California home insurance market Archives

Consumer Group Takes on Insurance Commissioner in High-Stakes Lawsuit

April 16, 2025April 16, 2025 Angela Linders

Lawsuit Targets California Insurance Commissioner Over Home Insurance Surcharges A courtroom battle is brewing in California over home insurance surcharges tied to devastating wildfire losses, thrusting Insurance Commissioner Ricardo Lara into the spotlight. The legal challenge, filed by the advocacy group Consumer Watchdog, alleges Lara violated state law by enabling insurance companies to pass on the financial burden of wildfire damage to policyholders. At the center of this fight are the ripple effects of the Pacific Palisades and Altadena fires, which left a staggering $4 billion in damages and obliterated…

California takes different tack than Florida to beat home insurance crisis

September 14, 2023September 13, 2023 Marc

Home insurance - Home on fire - Option A Option B

Officials in the state are looking for options to support property insurers in wildfire prone regions. California officials are working to avoid facing a similar situation in their home insurance market to that faced by officials in Florida. Florida residents are livid with their elected officials for allowing premiums to skyrocket to current levels. Catastrophic storms have been sending home insurance rates steadily and steeply upward in Florida. California is aiming to avoid the same situation due to the regular and devastating storms blasting their way through. State officials in…

State Farm will no longer sell home insurance in wildfire-prone California

May 31, 2023May 30, 2023 Julie Campbell

The giant has announced that it is leaving the state’s homeowners’ market due to high risk and construction costs. State Farm has announced that due to spiking wildfire risks and construction costs, it is leaving selling in California’s home insurance market altogether. The insurer is stopping new sales of the coverage in the state, which it says has become too expensive. State Farm issued an official media release to announce its withdrawal from the home insurance market in California. It stopped accepting business and personal applications on May 27. That…