{"id":2173,"date":"2024-01-02T11:15:27","date_gmt":"2024-01-02T11:15:27","guid":{"rendered":"https:\/\/www.homeinsuranceking.com\/blog\/?p=2173"},"modified":"2024-07-07T22:44:01","modified_gmt":"2024-07-07T22:44:01","slug":"what-exactly-is-a-fair-plan","status":"publish","type":"post","link":"https:\/\/www.gethomeinsurancequotes.com\/blog\/what-exactly-is-a-fair-plan\/","title":{"rendered":"What exactly is a FAIR Plan?"},"content":{"rendered":"\n
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If you live in an area where severe weather is common, or wildfires pop up every summer you may have trouble finding affordable home insurance coverage<\/a>. If homes in your area are repeatedly damaged or destroyed by a covered peril, insurers may pull out of the entire area, refusing to write policies in your neighborhood. This is not as uncommon as you may think.<\/p>\n\n\n\n

Homeowners in Florida<\/a> and California<\/a> have had their policies cancelled or non-renewed due to extreme weather events in the area or wildfires, leaving them unprotected. Fortunately, there are options for homeowners who have been cancelled by their mainstream insurance company. State run, high risk, insurers of last resort FAIR plans are often the only option left for these homeowners. <\/p>\n\n\n\n

Let\u2019s take a quick look FAIR plans and how they work.<\/p>\n\n\n\n

What exactly is a FAIR Plan?<\/strong><\/h2>\n\n\n\n

If a property owner cannot get coverage in the private market, FAIR plans step up to insure these unlucky homeowners. FAIR stands for Fair Access to Insurance Requirements (FAIR).<\/p>\n\n\n\n

FAIR plans are designed to offer coverage in areas that have extremely high risks and where insurers have pulled out of the market and are no longer writing policies in that area. <\/p>\n\n\n\n

There are a number of reasons your home could be considered extremely high risk but, in most cases, it is due to severe weather or fire risk. Here are a few common risks that could result in your home being uninsurable:<\/p>\n\n\n\n