Climate change to obliterate $1.5 trillion in U.S. home values
More than 5 million Americans will leave areas being impacted by climate change this year, according to study.
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More than 5 million Americans will leave areas being impacted by climate change this year, according to study.
Former San Francisco Supervisor Jane Kim and State Sen. Ben Allen, both Democrats, have advanced in the primary election for California's insurance commissioner race, the Associated Press projects.
Once thought of as a small, rarely-used backstop, the FAIR Plan is now one of the largest insurers in the state, and people without FAIR Plan insurance are the ones on the hook for the FAIR Plan's debt. Yet the FAIR Plan is still cloaked in secrecy.
Two lawsuits allege major home insurance companies have colluded to limit coverage in wildfire-prone California communities and force homeowners onto the state's last-resort insurance plan.
At an Oakland hearing Tuesday, attorneys for State Farm Insurance made their case for an emergency rate hike that could impact insurance rates for millions of Californians.
As more people in California lose private insurance, the state's FAIR plan is filling up with homes in places the industry itself has classified as low-risk for wildfire.
State Farm General also had a blunt warning to Californians about the future of insurance in the state.
About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.
Insurance companies in California will have to offer coverage to homeowners in wildfire-prone areas under a new state regulation that was announced Monday.
Under a new insurance regulation that just got approved this week, California Insurance Commissioner Ricardo Lara said homeowners should have an easier time buying fire insurance, even in fire-prone areas.
A Fairfield couple had their home insurance policy canceled because of a photo taken from high above their residence. They called Kurtis when they thought the insurance carrier got it wrong.
Home insurance premiums have at times risen 40% faster than inflation. Extreme weather events are likely to make the expense worse.
As climate change whips up wilder weather, more Americans must deal with "hazards they have not faced in the past," expert says.
California has a new plan to boost insurance coverage in some of the riskiest areas for wildfires.
Some residents of the area said that while they hope that this may be a good thing in the long run, they aren't sure it will do much to help anyone who needs assistance right now.
A former Grizzly Flats resident received a shocking notice this week that her insurance is being invoiced for debris removal related to the Caldor Fire, which decimated the El Dorado County town in 2021.
With major insurance companies announcing they would not renew California home insurance policies, some people in El Dorado County were left scrambling.
State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer, nine months after announcing it wouldn't issue new home policies there.
