Day: May 13, 2025

Can We Fix California Home Insurance Gaps Without Pointing Fingers?

G. Turner
California Home Insurance Gaps

Home Insurance in California: Finding the Right Balance Wildfires don’t just burn homes; they upend lives, leaving emotional and financial scars. And for many Californians, the shock doesn’t end when the flames die down. It hits again when they realize their insurance isn’t enough to rebuild. Tough, right? Fixing the underinsurance problem is crucial, but here’s the thing—we’ve got to talk about the trade-offs. Because better coverage? It might mean higher premiums for homeowners. The Push for Smarter Coverage California’s leaders are trying to shake up how insurance works in…

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State Farm’s 17% Rate Hike Gets Judge’s Nod and Commissioner’s Approval

Marc
State Farm's Proposed Rate Hike

State Farm Looks to Raise Rates by 17% for California Homeowners California’s largest insurance provider, State Farm General, wants to raise homeowner insurance rates by 17%. Why? The company says devastating financial losses from the January 7 Los Angeles fires, combined with their already-thin financial cushion, forced their hand. Today, agreeing with this explanation, Administrative Law Judge Karl Frederic Seligman endorsed the move, calling it a “rescue mission” for State Farm’s finances. But here’s the thing—this isn’t a done deal yet. California Insurance Commissioner Ricardo Lara holds the keys to…

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From 55+ to Everyone: The Push to Broaden Minnesota Auto Insurance Savings

Logan B.
Minnesota Auto Insurance Savings

Minnesota’s Insurance Rules Are About to Get a Big Shake-Up. Here’s How Insurance discounts are great, right? But who actually qualifies for them in Minnesota? Currently, drivers 55 and older can save at least 10% on their car insurance premiums if they complete a state-certified accident prevention course. It’s all thanks to Minnesota Statutes §65B.28, which ensures older drivers who actively work on their road safety skills get rewarded. But what about everyone else? That’s what House File 3290, a new bill in the Minnesota legislature, is trying to address.…

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NOAA Cuts Leave Insurance Companies Asking, “Now What?”

Nordstrom
Insurance Companies using NOAA Data

Picture this: A powerful hurricane approaches your community. Insurance companies brace for the surge of claims they anticipate. How do they determine areas of highest risk and ensure policies remain viable in a world increasingly impacted by extreme weather? They turn to the critical data provided by NOAA (National Oceanic and Atmospheric Administration). Well, they used to. The current administration decided to stop updating NOAA’s “billion-dollar weather and climate disasters” database after 2024. This isn’t just a blip on the radar; it’s a seismic shift for the insurance industry and…

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