Wildfires have ravaged California this year which is leading to hundreds of thousands of residents not being able to find homeowners insurance or if they do, it is an expensive bare-bones policy. Many homeowners have been dropped by their regular insurance company as insurers pull out of the market in certain areas. The problem is […]
On September 9 2020, a thick orange haze above San Francisco, CA from wildfires. This photo is a daytime view of ash and smoke floating over the Bay Area. Recently, the California Department of Insurance released a list of 518 zip codes within or adjacent to this year’s wildfires where insurance companies are no longer […]
Curtis Panasuk was forced to evacuate his home located in Ben Lomond (Santa Cruz County) California when the CZU Lightning Complex fires hit in August according to a recent San Francisco Chronicle article. In the article he said he could hear dynamite-like explosions in the San Lorenzo Valley when nearby homes burned which caused their propane […]
If you are in the market for a house, the cost of homeowners insurance is probably not your number one priority but some homes come with risks that could dramatically up the cost of insuring your new home. Knowing what risks can be an insurance issue with a home can help you save not only […]
In Salinas, Monterey County, California, a “River Fire” was ignited by dry lightning on August 16, 2020. Smoke fills the sky as it burns close to houses on its first day. Californians have experienced numerous wildfires this year and many of them are still burning out of control which has led to many homeowners having […]
As wildfire season kicks off, lawmakers in California are pushing through an insurance industry backed homeowner insurance bill. While the bill seems popular with a number of lawmakers, it is receiving fierce opposition from consumer groups as well as California Insurance Commissioner Ricardo Lara. The bill addresses a number of issues, from letting insurance companies […]
According to national insurance expert and actuary, J. Robert Hunter, a package of homeowner insurance bills that California lawmakers are considering could lead to premium hikes of at least 40 percent across the state. It will also increase the number of California homeowners who are struggling to find coverage for their homes. AB 2167 (Daly-Anaheim), […]
The Insurance Information Institute (III) recently issued a press release that looks at both the number of lightning related claims as well as the cost of those claims. They found that for the second consecutive year, the number of lightning related claims decreased but the average cost per claim actually increased. When the I.I.I ran […]
While job losses mount and home sales plummet due to COVID-19, lenders are tightening mortgage requirements, making it more difficult to purchase a home. In addition to stricter mortgage requirements, the virus may change how Americans buy and sell homes in the future. As the pandemic continues, it could end up transforming how real estate […]
Homeowners across the country are suffering as unemployment climbs across all industries, making it difficult for many homeowners to cover all of their bills. The Federal government, as well as some private mortgage companies are offering a bit of help by allowing some homeowners to apply for mortgage relief. While this sounds great, there can […]