It's Becoming Increasingly Hard For California Homeowners To Get Insurance : NPR
"Insurance companies are increasingly dropping homeowners in California because of wildfire risk. There's concern the problem will grow worse after this year's destructive fire season."
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Insurance companies have freaked out about property insurance risks in California in years past. Fires, floods, 100-year storms, landslides earthquakes--these events are hard to build into their premium calculations. But homeowners need property insurance, so we shall see what the state legislature has to say about this.
1 comment:
In the 90s the legislature acted by prohibiting insurers from cherry picking types/exclusions of coverage. So, for example, if they wanted to sell homeowners insurance they couldn't exclude earthquake coverage.
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