California homeowners left scrambling as State Farm slashes policies and hikes rates — here’s what this could mean for you
California homeowners left scrambling as State Farm slashes policies and hikes rates — here’s what this could mean for you

The process was described as “ongoing with no timeline for when it could be resolved.” The ongoing climate crisis has increased the frequency and intensity of natural disasters like the recent Hurricane Helene and Hurricane Milton, and insurance companies are pulling back coverage from the…
Can a Home Insurer Drop You Due to Aerial Photos? Brace Yourself for It
Can a Home Insurer Drop You Due to Aerial Photos? Brace Yourself for It

Is your insurance company spying on you? Insurers are increasingly using technology such as drones, airplanes and even high-altitude balloons to survey homes from coast to coast. If these companies spot something they don’t like, you could lose homeowners insurance coverage. In late 2023, KGO-TV…
New insurance insights from second series forum hosted by Center for California Real Estate
New insurance insights from second series forum hosted by Center for California Real Estate

LONG BEACH, Calif., Oct. 1, 2024 /PRNewswire/ — The California Dept. of Insurance and other industry leaders gathered last week to continue statewide conversations around insurance challenges at the forum, “Securing California’s Insurance Market: The Path Forward,” hosted by the Center for California Real Estate.…
State Farm forecasts decline in California policies over the next five years
State Farm forecasts decline in California policies over the next five years

The drop is expected to be around 1 million Insurer State Farm has stated that it was expecting to see the number of policies that it issues in California decline by 2 million by the year 2028, following the financial issues it was encountering, as…
Preparing Vulnerable Communities for Natural Disasters
Preparing Vulnerable Communities for Natural Disasters

During September, which is also National Preparedness Month, CWS’ Emergency Preparedness, Response and Recovery (EPRR) team dedicated its time to equipping vulnerable communities in northern California with the knowledge and tools they need to survive a disaster. September is also a wildfire season, making the…
State Farm projects dropping 1 million policies in California over next five years
State Farm projects dropping 1 million policies in California over next five years

State Farm is projecting that by 2028, the number of policies it issues in California will drop by 1 million, as the insurance giant grapples with financial distress and pulls back from the Golden State. According to a filing submitted to the California Department of…
Homeowners scramble after insurance company hikes rates following major disasters: ‘Doubles down on the bad news’
Homeowners scramble after insurance company hikes rates following major disasters: ‘Doubles down on the bad news’

With prices continually rising, many people cannot afford to pay for insurance, making them vulnerable to financial damage as well as the risk to life that wildfires bring. What’s happening? The Washington Post reported that Allstate has been approved to raise insurance premiums by 34%…
State Farm Expects to Shed 1M Homeowner Policies in California
State Farm Expects to Shed 1M Homeowner Policies in California

State Farm, California’s largest home insurer, expects to cut 1 million policies to stay financially solvent. The Illinois-based firm, whose trademarked jingle is “Like a good neighbor, State Farm is there,” expects it won’t be here for a third of its statewide property insurance policyholders…
Bonny Doon homeowners to hear from state on insurance crisis
Bonny Doon homeowners to hear from state on insurance crisis

California Insurance Commissioner Ricardo Lara has accepted an invitation from the Rural Bonny Doon Association to speak at an online forum at 7:30 p.m. Wednesday, Sept. 25, on the home-insurance crisis facing residents of Santa Cruz County who live in wildfire-prone areas. “All of us…
What to do if you can’t get insurance in California
What to do if you can’t get insurance in California

While plenty of Californians will tell you there’s nowhere they’d rather live, many will also tell you they’re fed up with trying to get affordable home and auto insurance. Still, homeowners insurance is not optional if a house is mortgaged, and all California drivers must…
Coverage shrinks, premiums skyrocket as wildfire risk hits OC multifamily complex
Coverage shrinks, premiums skyrocket as wildfire risk hits OC multifamily complex

At Laguna Village, insurance costs double while damage benefits drop 98% Laguna Village, a townhome community in Laguna Hills, is facing a severe insurance crisis as rising wildfire risks have drastically reduced its coverage while premiums skyrocket. Two years ago, the insurance coverage for the…
California Insurance Commissioner says ‘real change’ coming to homeowners insurance crisis
California Insurance Commissioner says ‘real change’ coming to homeowners insurance crisis

In the last few years, most of California’s major homeowners insurance companies have paused or limited business in the state, citing the rising risk of wildfire, the cost of rebuilding homes and what they consider burdensome state regulations. As a result, hundreds of thousands of…
Anguished homeowners struggle to keep their insurance
Anguished homeowners struggle to keep their insurance

Kerry McCalmont’s insurance company told her to cut down the majestic oak tree towering over her Glendale house if she wants to renew her homeowner’s policy. But there’s a catch. A city ordinance declares that indigenous trees are “natural aesthetic resources” that add “distinction and…
California’s Sustainable Insurance Strategy: What the most extensive insurance overhaul in 30 years means for homeowners
California’s Sustainable Insurance Strategy: What the most extensive insurance overhaul in 30 years means for homeowners

It was a historic summer for California, with 2024 bringing the most severe wildfire season in 16 years. The Park Fire, which began in late July, has burned over 400,000 acres and blazed its way into history books as the fourth-largest wildfire in the state’s…
The best way to protect yourself from the home insurance crisis is also the easiest
The best way to protect yourself from the home insurance crisis is also the easiest

There are countless expensive and arduous ways to protect yourself in California’s home insurance crisis, but brokers say the simplest and most effective may be this: Check your mail. It may seem obvious, but letting a piece of mail from your insurance company fall through…
Park Fire Survivors Stuck in Recovery Limbo as Officials Figure Out What to Do
Park Fire Survivors Stuck in Recovery Limbo as Officials Figure Out What to Do

Under a low-slung ceiling of flashing disco lights, Yahmo Ahqha roared into the mic during his band’s practice. The band, called Yahmo, is in the performance space of an independent radio station in Chico. They have shows coming up, want to record an album, and…
Thousands turn out for Ember Stomp festival in North Bay to celebrate wildfire safety, preparedness
Thousands turn out for Ember Stomp festival in North Bay to celebrate wildfire safety, preparedness

As we head into prime wildfire season, thousands came out for a festival like no other in the North Bay on Saturday. Ember Stomp is a wildfire safety and prevention event, helping homeowners prepare for the very real possibility of a wildfire emergency. Freshly cut…
California FAIR Plan Insurance: What You Need to Know
California FAIR Plan Insurance: What You Need to Know

What Is California FAIR Plan Insurance? The California FAIR Plan provides fire insurance for high-risk homes and businesses that private insurers won’t cover. FAIR stands for Fair Access to Insurance Requirements. The plan, established by state legislators in 1968, is a pool of all insurers…