State Farm General said on Monday it is asking the California Department of Insurance to immediately approve interim rate increases, including 22% average for homeowners. The carrier, the state’s top homeowners insurer, is partly blaming the devastating Los Angeles wildfires for the request. “As of February 1st, State Farm General (Fire only) has received more … Read more
Homeowners associations insurance (HOAs) operate as essential entities that preserve both neighborhood security and residential authenticity standards in residential districts. The board of directors of HOAs regularly contracts external professionals to execute different types of service, including maintenance work and landscape projects. But one important question arises: Are HOAs required to obtain proof of insurance … Read more
California Insurance Commissioner Ricardo Lara expanded emergency insurance protections for Southern California homeowners, adding new ZIP Codes to those already under a mandatory one-year moratorium on insurance non-renewals and cancellations. The expanded order shields those within the perimeters or adjoining ZIP Codes of the Palisades, Eaton, Hurst, Lidia, Sunset and Woodley fires in Los Angeles … Read more
While the perception of overall severe weather risks varies significantly by region, 65 percent of the participants nationwide believed their home is at risk from thunderstorms, according to the new report, Catastrophic Weather Events and Mitigation: Survey of Homeowners by the Insurance Research Council (IRC), a division of The Institutes. Overall, this and other key … Read more
Homeownership is a pivotal achievement, and safeguarding it is of paramount importance. Comprehending the coverage of homeowners insurance is essential, whether you are a novice homeowner or reassessing your policy. If you are seeking dependable homeowners insurance in California, this guide will elucidate the fundamental elements of a basic coverage and its capacity to protect … Read more
