A homeowner in Chatsworth, who lives in an area prone to wildfires, said he and his neighbors are facing an uphill battle when it comes to coverage with insurance companies dropping them or hiking up rates. Consumer Watchdog also said it's an issue, and the group's...
Californians living in wildfire-prone areas without homeowners insurance have "nightmarish fears of losing everything that is precious," Ricardo Lara, the state's insurance commissioner, said in a statement. "The people of California are strong and resilient, but we cannot just continue business ...
Most homeowners policies cover fire and smoke damage, but insurers may be reluctant to cover homes in high-risk areas. (Learn more in our guide to wildfire insurance.) If you have trouble finding a policy, you can turn to the California FAIR Plan, the state’s insurer of last resort. ...
Based on the unique risks of living in Colorado Springs, we recommend adding the following protection to your home insurance policy: Wildfires: If your Colorado home is damaged in a wildfire, your standard policy may not offer much protection. A wildfire endorsement is a great way to get more...
Best Home Insurance Company for Nationwide Coverage: State Farm View Rates Pros Available in 47 states and Washington, D.C. Ranks above average in J.D. Power's Property Claims Satisfaction Study Partnered with Wildfire Defense Systems to provide free fire prevention and risk management ...
typically, wildfire damage is included in your homeowners insurance coverage. however, the rapid rise of wildfires due to climate change in recent years has caused insurers to dramatically increase premiums or deny coverage altogether in fire-prone areas. many insurance companies have withdrawn coverage...
Insurance companies are shying away from covering homes in wildfire areas. But “wildfire areas” tend to be pretty broad. What if companies could evaluate the risk on a more granular level — tapping things like satellite imagery and machine learning combined with wind, weather and...
Homeowners Decline Wildfire Insurance
And it doesn't skimp on coverage, offering flood, wildfire, and earthquake protection — one of few competitors that offers all three insurance policies to homeowners in many high-risk states. Plus, while many competitors don't have the financial strength to pay out claims after several natural...
In the western U.S., drought and heatwaves have led to "extraordinary wildfire seasons," according to theNational Oceanic and Atmospheric Administration. More help:The 5 best companies for inexpensive homeowners insurance More people are moving to regions affected by these natural disasters: Migration...