Most California insurers foregoing inventory for wildfire victims
Posted: April 8, 2025
Homeowners in Los Angeles County impacted by recent wildfires can breathe a little easier, after state Insurance Commissioner Ricardo Lara issued an order that bars insurance companies from canceling or non-renewing homeowner's policies in wildfire-affected areas for at least one year. He also ordered insurance companies to make advance payments to policyholders who had their homes damaged or destroyed by the fires, in order to...
Expect to See Surcharges on Your Policy for the L.A. Fires
Posted: March 4, 2025
Even if you have a business or a home that was not affected by the recent wildfires in Los Angeles, you will likely see a surcharge to help pay for them on your next property insurance policy renewal. The state-run California FAIR Plan, which is the market of last resort when policyholders are unable to find coverage from private carriers, expects its total loss from...