3 Zip Codes Get The Worst of State Farm Non-renew Campaign in California

State Farm - Fire Risk Assessment - Bel Air

In an announcement that may reshuffle the deck for homeowners’ insurance across California, industry giant State Farm revealed a strategic shift in their coverage plans, affecting thousands of property and commercial apartment policies in the state. With implications extending to the very nature of wildfire and earthquake risk management, this move by State Farm is poised to remove billions in risk from the company’s books. Earthquake Aftermath Concerns Amplify Fire Risks in California While earthquake policies in California are indeed underwritten through the state-run California Earthquake Authority, State Farm’s heightened…

Read More

California wildfire insurance coverage remains important despite drought end

California wildfire insurance fire season homeowners

Millions of residents of the state aren’t out of the risk of wildfires even though the rains returned. The end of the several year long drought in the state hasn’t eliminated the need for California wildfire insurance yet, says a new report. Last winter came with soaking storms that put an end to what looked as though it would be a never-ending drought. Despite the fact that the land is no longer parched as it has been over the last few years, this doesn’t mean that the threat of wildfires…

Read More

Homeowners insurance is running from Californian wildfires

insurance industry fire insurance

As the brush fires and blazes moved ahead, insurers started to step back from providing coverage. Near the start of October, homeowners insurance companies found themselves covering the majority of the almost 5,000 claims that were made as a result of two wildfires that occurred in September in Northern California and agreed both to provide the policyholders with a larger amount of time in which to document their claims and to boost the speed of the payments. That said, following one of the worst wildfire seasons in the state, the…

Read More