Tag: California homeowners insurance

California homeowners insurance policies are becoming fewer and farther between

Nordstrom
California Homeowners Insurance Policies - House Fire - Fire fighters

As the state prepares for another dangerous wildfire season, coverage is in the spotlight. California homeowners insurance policies are becoming a serious subject at the moment. With the approach of the wildfire season, a growing number of property owners are losing their coverage. That said, the issue of spiking premiums and reduced availability isn’t anything new. A recent New York Times report looked at the issue of California homeowners insurance policies. It examined the way the state has been trying to manage these challenges for a long time. It pointed…

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What does California earthquake insurance coverage provide following a disaster

Julie Campbell
California earthquake insurance coverage - House after earthquake

Following the tremors last Thursday and Friday, many residents are looking into the protection available. The importance of California earthquake insurance coverage was placed in the spotlight last Thursday and Friday. The 6.4 magnitude quake was the strongest to rock Southern California in two decades and was followed by a 7.1 magnitude quake the next day. The tremors shook homes and other buildings across hundreds of miles in the state. Independence Day came with a number of different catastrophe risks, particularly with the number of tornadoes that have been cutting…

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California Legislature enacts homeowners insurance reforms regarding wildfires

Julie Campbell
california wildfire insurance - Homeowners insurance reforms

Victims of the fires that destroyed thousands of homes in 2017 will not benefit from the changes. The California Legislature has approved homeowners insurance reforms designed to boost consumer protections. This is particularly important as Californians battle with wildfire risks for yet another year. Devastating wildfires have become the new normal throughout the second half of every year. Wildfires are occurring statewide and the Legislature decided it was time to come to terms with these new trends. This was reflected in the new homeowners insurance reforms that have received approval.…

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California insurance industry will face more wildfire losses in 2018

Logan B.
California Insurance Industry - Wildfires

A new Moody’s report shows that insurance companies will endure more wildfire losses this year. The California insurance industry isn’t getting a year off from wildfire losses after facing a costly year in 2017. A new Moody’s Investors Service Inc. report showed that despite current losses, there will likely still be another major wildfire loss event this year. The Carr wildfire in California has caused about an estimated $1.5 billion in insured losses. After the California insurance industry copes with the $1.5 billion in losses likely already caused by the…

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Could Hippo Insurance model really change the homeowners market?

Nordstrom
InsuranceBee and Hiscox launch insurance agent partner program

The startup insurer officially launched in California with a new way of looking at coverage. Hippo Insurance had its official launch in California this week and has taken a different perspective for homeowners policies. The concept is to offer smart homeowners insurance for modern homes. This insurance company is based in Mountain View, California and hopes to freshen the market. The insurer claims that the homeowners insurance market has barely seen any change at all in fifty years. Hippo Insurance hopes that with the changes it’s making, consumers will be…

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