Live Insurance News

Insurance Companies Under Fire After Tyler Perry’s Viral Post

January 13, 2025January 13, 2025 Angela Linders

Tyler Perry’s Outrage Over Insurance Cancellations Hollywood mogul Tyler Perry recently expressed his frustration with home insurance companies canceling policies as Los Angeles battled catastrophic wildfires. His social media post highlighted what he described as “pure greed” from these insurers, pointing out the plight of homeowners left unprotected after faithfully paying premiums for years. Perry shared the heartbreaking story of a woman using a garden hose in a desperate attempt to save her 90-year-old parents’ home, which had lost its insurance coverage just before the fires. “Does anyone else find…

High Wind Warnings Issued as California Faces $20 Billion in Fire Losses

January 11, 2025January 13, 2025 Live Insurance News

California Wind Forecast and Fire Risk Southern California is bracing for another dangerous fire weather event as the Santa Ana winds are set to return. After a brief reprieve over the past 24 hours, forecasters predict wind gusts of up to 65 mph will sweep through the region late Saturday into Sunday morning, once again intensifying wildfire threats. The National Weather Service has issued High Wind Warnings for much of Los Angeles and Ventura Counties, elevating the fire outlook to a “Critical” risk level. Key fire zones, including areas affected…

Palisades Fire Sweeps Through Southern California, Fueled by Strong Santa Ana Winds

January 8, 2025January 8, 2025 Tate Ellison

A Dangerous Start to 2025 for Southern California On Tuesday morning, the Palisades Fire erupted in the hills north of Malibu, fueled by powerful Santa Ana winds clocking up to 80 miles per hour, exceptionally low humidity, and persistent drought conditions. The blaze quickly grew, threatening thousands of homes in Pacific Palisades and leaving local authorities scrambling to protect lives and property. By late afternoon, the fire scorched over 1,200 acres, with more than 13,000 structures still at risk. Los Angeles Mayor Karen Bass emphasized the urgency of the response.…

California’s Evolving Insurance Market: Is Relief on the Horizon?

December 13, 2024December 12, 2024 Ester Adams

California’s home insurance market has been under immense pressure in recent years, leaving homeowners dealing with uncertainty about their coverage. Farmers Insurance, the state’s second-largest home insurer, recently announced a significant decision to expand the number of policies it writes each month. While it marks a potential turning point, many questions remain about the long-term sustainability of California’s insurance landscape. Here’s a breakdown of the situation, players involved, and what lies ahead. Farmers Insurance Expands Policy Sales Cap After limiting itself to selling 7,000 policies per month in California, Farmers…

The Hidden Costs of a DUI That Can Drain Your Wallet Over Time

December 12, 2024December 11, 2024 Ester Adams

Driving under the influence (DUI) isn’t just a legal problem—it’s a financial nightmare. What might start as a temporary lapse in judgment can leave a lasting impact on your wallet, particularly when factoring in long-term expenses such as rising insurance premiums. Across the United States, these costs vary significantly depending on your state, but no matter where you live, the hit to your finances is substantial. Here, we’ll break down how DUIs cause insurance costs to spike, highlight alarming DUI statistics during holidays, compare these expenses to alternative options like…