Multiple insurance providers, such as State Farm and Allstate, have recently announced they will not be offering new homeowner fire insurance policies in California. Additionally many of the one year non-renewal moratorium deadlines are due to expire later this year. This is bad news for home buyers who already have to battle with the housing inventory shortages.
According to CA Association of Realtors “With nearly 500,000 California homes worth a combined $268 billion under serious risk from wildfires, and the issue growing more acute with each passing year, insurance companies are ramping up prices or outright refusing to renew policies in fire-prone areas.
Here’s a sample of some of the questions you may have if you are impacted by these changes in insurance policies” about your legal rights, how to find homeowner insurance and policy coverage considerations:
For more information on homeowner fire insurance here is a link to the One Sheet from the CA Association of Realtors
“How to Find (or Keep) Fire Insurance”
For a free consultation about Real Estate in the San Fernando, Conejo or Simi Valleys
Call (818)570-1144 Email [email protected]
Janey Bishop Real Estate Broker – Senior, Probate/Trust, Divorce Certified
SRES, CPE, CPRES, CDRE, RCSD, MBA DRE 01838769
