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New data shows just how much Californians in every ZIP code are paying to be insured by the FAIR Plan, the state's insurer of last resort.
What happens if the California FAIR Plan goes under after the wildfires? Here's how it could affect the 8.7 million policyholders across the state.
As insurance companies retreat, the FAIR Plan has seen its policy count grow from a little over 200,000 in September 2020 to more than 450,000 as of September 2024.
A $1 billion assessment for California’s FAIR Plan, the state-mandated insurer of last resort, is expected to drive up premiums as companies will likely pass some of the costs onto homeowners.
A Tierrasanta homeowner recently reported to CBS 8 that their California Fair Plan policy renewal saw a significant decrease, dropping from $3,500 annually to just $600 per year.
For example, the California FAIR Plan caps insurance payments for natural disasters at $3 million for residential policyholders. That price tag is important, given there are now at least 33 Bay ...
California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims related to the Los Angeles wildfires, the state Insurance ...
The number of people on California’s FAIR plan nearly doubled in the five years leading up to 2021, and that number has almost certainly increased even more in the past two years.
California lawsuit accuses insurance companies of ‘illegal scheme’ to drop homeowners The lawsuit claims insurers conspired to force homeowners onto the FAIR Plan, the state’s last-resort ...
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