Search Results for: Covered California

California market loses yet another homeowners insurance company

Marc
Homeowners insurance - Offered no more

The state has been struggling with a rapidly shrinking market due to considerable challenges. California is losing yet another homeowners insurance company from its market as a company owned by the second largest home insurer in the state announces that it will be ceasing operation in the state. This will leave tens of thousands of property owners looking to find new coverage. Farmers Direct Property and Casualty Insurance Company, an insurer owned by the second largest homeowners insurance provider in California’s property market, has surrendered the Certificate of Authority it…

Is the lack of flood insurance coverage the next coverage crisis for California?

Nordstrom
Flood insurance - Home on life preserver - California crisis

Thousands of homes may be at risk of flooding, but few are covered against this type of catastrophe. Though we tend to think of wildfires as the main risk to property owners in California, climate change and a majority of homes without flood insurance could create an entirely new crisis in coming years. Many predictions indicate that sea level is expected to rise in many areas of the country, including California. Places like the Bay Area are considered to be at particular risk of this future development. Thousands of families…

California considers private health insurance for immigrants

Nordstrom
Health insurance - Immigration - United States

The state has yet to determine if such a strategy can be achieved affordably for the demographic. Though many Californians whose income is too high to be eligible for Medi-Cal can receive subsidized health insurance through Covered California, an estimated 460,000 residents without legal status can’t purchase coverage through the Affordable Care Act’s state-run plans. Some lawmakers are seeking to create a bill to help close that gap for those uninsured Californians. “We’re going to need to figure out how to provide universal coverage for all who call this state…

As floodwaters rise in California, flood insurance covers few homeowners

Nordstrom
Flood insurance - Home near rising waters

Rainstorms have been soaking the state, placing property owners at risk of uncovered water damage. Throughout the entire state of California, only about 230,000 homes and other properties are covered by flood insurance policies. This coverage is not included in standard home policies, leaving Californians vulnerable. Therefore, only about 2 percent of California properties have flood insurance coverage against rising waters from storms such as those that have been soaking the state in recent weeks. For most of the properties that are covered, the federal government is the insurer. About…

Commissioner Lara reminds state to review California insurance coverage

Logan B.
California insurance - Flag for California

The recommendation is to know exactly what is covered from floods and mudslides caused by wildfires. Insurance Commissioner Ricardo Lara has issued a formal notice to insurers to inform them that it is their legal duty to provide California insurance coverage for any future disaster such as mudslides caused by the recent wildfires. Those wildfires have left hillsides weakened, increasing risks such as mudslides and flooding. Residents in wildfire burn areas who are at an even higher vulnerability are being advised to check their California insurance coverage to be familiar…