Tag: california wildfires

Allstate is no longer selling new California home insurance policies

Julie Campbell
California home insurance - homeowners insurance policy - X

Immediately after State Farm’s exit from selling in the market, its top competitor has done the same. Allstate has announced that it is no longer selling new California home insurance policies, removing it from the pool of available coverage for homeowners following State Farm’s exit from sales only days before. That said, despite the fact that the announcement was only just made, the insurer’s statement said it stopped accepting new policies as of last year. This means that two of the largest insurers in the country are no longer selling…

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California homeowners overcharged for wildfire insurance to be refunded

Live Insurance News
Wildfire insurance - person holding money that's on fire

State Commissioner Ricardo Lara has announced that there will be about $1.5 million in refunds. California Commissioner Ricardo Lara has announced that Kemper Independent Insurance Company overcharged its policyholders for their wildfire insurance coverage. As a result, that insurer has issued $1.5 million in refunds to thousands of homeowners. The Department of Insurance determined that the insurer had been overcharging for that risk. Both Kemper and Unitrin Auto and Home Insurance Company, its affiliate insurer, have also agreed to pay $617,200 to the General Fund as a combined penalty and…

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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…

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California Insurance Commissioner Ricardo Lara issues notices to insurers over wildfires

Marc
California insurance commissioner - Notice Insurance

Insurers have been advised to cease their cancellations and non-renewals in wildfire affected communities. California Insurance Commissioner Ricardo Lara has issued notices to homeowners’ insurance companies regarding the cessation of cancellations and non-renewals in communities suffering wildfire emergencies. Lara’s notices have advised insurers to stop such behaviors or risk violating Californian law. The notices from the California Insurance Commissioner have to do with homeowners and renters’ policies in communities located near the state’s many major wildfires. Those communities will be identified by state Governor Gavin Newsom in emergency declarations. According…

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Mercury homeowners insurance encourages Californians to prepare for fires

H. Cutner
Mercury homeowners insurance - house on fire

The 2021 wildfire season is already outpacing that of 2020, which broke historic records. California is suffering a severe drought this year, and Mercury homeowners insurance customers are being urged to take action to ensure their properties and their families are prepared for a rough wildfire season. The California Department of Forestry and Fire Protection shows that wildfires are worse than last year. According to recent California Department of Forestry and Fire Protection (CAL FIRE) data, the drought is contributing to wildfire numbers and acres burned to the point that…

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Homeowners insurance non-renewal protection issued to several Californian communities

Nordstrom
Homeowners Insurance Non-Renewal - neighborhood in California

Residents of almost 2.4M homes will benefit from a one-year moratorium against wildfire risk cancellation. Almost 2.4 million policyholders will be protected against homeowners insurance non-renewal for the next year. Millions of property owners faced having their policies cancelled due to increased wildfire risk. The historic wildfires that blaze their way through the state every year have caused homeowners insurance non-renewal trends to skyrocket in California. This has threatened the ability of many residents to find affordable coverage, or any coverage at all. That said, on December 31, California Insurance…

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Californians wonder if fire hardening will make it easier to get homeowners’ insurance

H. Cutner
Fire hardening - Wildfires

Creating a program to incentivize homeowners to mitigate the risk of wildfires has potential. Californians across the state are trying to do what they can to spare their homes from wildfire risk, and some are looking to fire hardening in the hopes of becoming more acceptable to homeowners’ insurance companies. Insurers are becoming increasingly risk averse in the state when it comes to protecting from wildfire. Californian homeowners have been watching their premiums spiking and many are at a risk of having their coverage cancelled altogether. The wildfires in the…

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