Zurich is committing to expand its property coverage availability in areas designated as distressed in California in a new filing. Zurich U.S. submitted a commercial property insurance rate filing in California under the state’s Sustainable Insurance Strategy, an effort by Insurance…
California home insurance projected to rise 16%, the largest jump in U.S. Daily Breeze California property owners can expect the nation’s steepest insurance premium hikes this year. Nevertheless, that surge will leave California property owners paying below U.S. norms, according to my…
A popular home insurer in California is hiking rates for homeowners this fall. Farmers Insurance Group, known for its "We are Farmers" jingle with actor JK Simmons, will raise rates by 1.5% at the next renewal date in September. The change…
California’s home insurance costs have long been moderate, despite the state’s higher cost of living, largely because of its strict regulatory environment. Still, the average cost of homeowners insurance rose 5% in the Golden State last year, and an even higher…
Two major insurers in California plan on raising rates by double digits for single-family homes, which could cause premiums to skyrocket. The AAA-affiliated Interinsurance Exchange of the Automobile Club applied to raise rates for homeowners by 11.2%, while rates for condos…
REDDING, Calif. — Homeowners insured through the California FAIR Plan could soon pay significantly more, as the state’s insurer of last resort moves forward with a broad rate increase tied largely to wildfire risk. The California FAIR Plan is raising rates…
The Desert Sun California FAIR Plan set to increase rates for most policyholders California's home insurance plan of last resort is set to increase rates for policyholders later this year. California FAIR Plan announced an average 30% rate increase for policyholders,…
in years starting in October. Premiums will rise by just under 30% overall for nearly 663,000 residential policyholders. The final change will vary by property and location. About half of customers will see rates climb 30% to 50%, while one-quarter will see premiums decrease…
California’s FAIR Plan will raise rates 29.1% for some homeowners as wildfire exposure, policy counts, and insurer pullbacks strain the market
Building material costs have surged over the past two years, making reconstruction after fire damage increasingly expensive. Labor shortages in the construction industry have compounded these pressures, driving up claims settlement costs. For insurers like Allstate, premiums that haven’t been…
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California auto and home insurer founded in 1961. It writes commercial auto in four states and California BOPs, through independent agents.