Tag: california wildfire insurance

No, Other States Aren’t Paying for California’s Wildfire Risks, Says State Farm

Angela Linders
State Farm

State Farm Sets the Record Straight on California Wildfire Insurance Wildfires have devastated California. Thousands of families are rebuilding their lives, and insurance companies are at the center of it all. But with so much news swirling around, State Farm wants to clear the air. Here’s what they’re saying about the current situation in California—and what it means for their customers. Helping Californians Recover For six months, State Farm employees, agents, and associates have been on the ground, helping customers recover from the wildfires in Los Angeles. Many left their…

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Why Chubb Is Non-Renewing Home Policies in California and What They’re Offering Instead

Nordstrom
Chubb

Chubb’s California Policy Shift: What It Means for Homeowners Chubb is making big changes in California. Starting mid-October 2025, it will stop renewing hundreds of admitted policies for high-value homes. Instead, these customers will get quotes under its Excess & Surplus (E&S) lines. Why the shift? And what does it mean for homeowners? Let’s break it down. What’s Happening? Admitted policies, which are tightly regulated by the state, are being phased out for many of Chubb’s high-net-worth clients in California. These policies come with consumer protections, standardized coverage, and price…

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California Court Ruling Shakes Up Smoke Damage Claims

Ben Jones
California Fair Plan News Report

Big changes are coming to California’s insurance world. A judge just ruled against the FAIR Plan, the state’s fallback home insurance option for high-risk properties. What’s it all about? Smoke damage. And this decision could shake things up—for both homeowners and insurance companies. The Ruling That Changes Everything The issue? How the California FAIR Plan handles smoke damage claims. The judge ruled their approach was illegal. Why? Their policy limited smoke damage claims to only what they called “direct physical loss.” Basically, if the damage wasn’t visible to the naked…

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From 22% to 17%: The Inside Story of State Farm’s Rate Cut Pivot

Angela Linders
california insurance state farm insurance news

State Farm’s Rate Pivot in California: What the 17% Request Means for You State Farm, one of the nation’s largest insurers, has been making headlines after scaling back its California emergency rate hike request to 17%. For policyholders and industry watchers alike, this isn’t just another number shuffle; it’s a significant moment in the ongoing tug-of-war between insurers and state regulators. What prompted this shift? And more importantly, what does it mean for the people paying the bills? Read on as we dissect the moving parts of this story. From…

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From Crisis to Solution: How AB 226 Aims to Transform Wildfire Insurance

H. Cutner
Wildfire Insurance

California Moves to Reinforce FAIR Plan Stability Amid Wildfire Challenges California lawmakers are taking bold steps to protect homeowners and address the state’s wildfire-induced insurance crisis. At the center of these efforts is Assembly Bill (AB) 226, also known as the FAIR Plan Stabilization Act, designed to bolster the state’s insurer of last resort. With unanimous support in the Assembly and growing momentum in the Senate, this bill holds promise for easing the financial strain on an increasingly overburdened insurance market. FAIR Plan’s Crucial Role in High-Risk Areas The FAIR…

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Unveiling the Housing Crisis – Where Homeowners Are Losing Insurance at Alarming Rates

Logan B.
home insurance - Non-Renewals and where are the most in the US

Climate Change Sparks Surge in Dropped Home Insurance Policies The United States faces a quiet yet profound crisis as climate-related disasters reshape the home insurance market. According to a recent congressional investigation, more than 1.9 million home insurance contracts nationwide have been dropped by insurers since 2018. The practice of “nonrenewal” has surged, putting countless American homeowners in precarious positions. This shift has far-reaching consequences for mortgages, property values, and entire communities. Rising Non-renewals Expose the Insurance Housing Crisis Once considered a steady and predictable industry, the U.S. home insurance…

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California fire station project on pause because it can’t get property insurance

Julie Campbell
Property insurance - Pause Button on Fire Station

The crisis in the state is largely from wildfires, but even those battling them can’t get insured Wildfire risk is very high in many parts of California, leading to what many have called a property insurance crisis in both the residential and business markets. Many insurers have withdrawn from selling More recently, the size of the issue became particularly clear when a project to upgrade a fire station in the area stalled due to a lack of property insurance availability. Homeowners living in California’s mountains face a particularly high wildfire…

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