Property owners across the state have seen their policies dropped by insurance companies due to fire danger, but experts say the state’s regulations are more impactful than the risk posed by natural disasters. After State Farm and Allstate both declared in May they will no longer accept new homeowners’ policies in California, many property owners…
California Insurance Crisis Goes Beyond Wildfire Risk: Experts
July 7, 2023
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More Than Wildfire Risk Causing Insurance Companies to Reconsider California: Experts
July 7, 2023
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Business & MarketsCaliforniaCalifornia Department of Insurancehome insuranceinflationNorthern CaliforniaPolicies & Impactsreal estateRegional & State NewsreinsuranceSouthern CaliforniaState FarmState NewsUSUS Newswildfire
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Property owners across the state have seen their policies dropped by insurance companies due to fire danger, but experts say the state’s regulations are more impactful than the risk posed by natural disasters. After State Farm and Allstate both declared in May they will no longer accept new homeowners’ policies in California, many property owners…
State Farm Halts Issuing New Home Insurance Policies in California
May 28, 2023
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Business & MarketsCaliforniaCalifornia wildfiresCompanieshome insuranceRegional & State NewsState NewsUS
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Insurance company State Farm is halting new property insurance policies in the state of California as the firm battles inflationary pressures and increasing exposure to wildfire risks. In California, State Farm will “cease accepting new applications including all business and personal lines property and casualty insurance, effective May 27, 2023,” the firm said in a…
Treasury Department Proposes Climate Data Collection Rule For Insurers
October 18, 2022
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Business & Marketsclimate changeeconomic policieseconomyhome insuranceInvestmentpersonal financePolicies & ImpactsRegional-Local NewsTreasury DepartmentUSUS News
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The Treasury Department announced that it was proposing a new rule that would gather climate risk data from home insurance companies. The proposed changes, which were posted in a Federal Register notice on Oct. 18, require that property and casualty insurers provide data on climate change-related risks, in order to better prepare financial regulations for global…
Homeowner Insurance: Are You Sure You Have Enough?
Homeowner insurance policies differ as much as homes—they are all different. Although the basic coverage will likely be very similar, many options are available. You may have gotten a good deal on your insurance policy from an agent, but it may not give you the coverage you need. When it comes down to it, it…
4 Great Homeowner’s Insurance Tips
Let’s face it: no one likes to think about insurance or the reasons why we may need it. No one wants to ponder bad things happen to their properties or worse, their family members. But insurance is important. It can give you peace of mind when things are good, and help you recover from the…
Burglaries Rise 6 Percent as People Leave Their Homes After Lockdown in the UK
The number of burglaries reported to the police rose as lockdown restrictions eased and people started to leave their homes in larger numbers, according to an insurer. Churchill said that police forces reported a 6.2 percent increase between the first and second quarters of this year. It means there were 3,600 more burglaries between April…
Keep the Homeowner’s Insurance
Dear Dave, Recently, I made a claim on my homeowner’s insurance for hail damage. It was my first claim ever. Since I’m retired and completely debt-free—including my home—and have over $1 million in the bank, is homeowner’s insurance still a good idea? The house is insured for $250,000, with a $5,000 deductible, and the insurance…
Jack Russell Pup Saves Owner’s Life, Alerting Her to House Fire Minutes Before Flames Would Have Caused Explosion
A grateful pet owner has thanked the brave pup who saved her life after it alerted her to a fire which would have blown up their house within minutes. Diane Thompson, 51, initially told her 1-year-old Jack Russell, Bella, to come back to bed when she woke up to her barking at 3:30 a.m. on…
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