Sign in Subscribe

california

What to Know About California’s New Plan to Bolster Home Insurance Market | Insurify

Californians’ home insurance options shrunk significantly in 2023, with seven of the state’s 12 largest home insurance companies either limiting new business or leaving the state marketplace altogether. But the state’s governor and insurance commissioner recently took action aimed at curtailing the state’s growing insurance crisis. Advocates

Fewer Californians Buying Flood Insurance Despite Record-Breaking Year | Insurify

Flood insurance claims in California soared nearly 211% in 2023, reaching an all-time high of more than $59.3 million, according to National Flood Insurance Plan (NFIP) data. And despite severe flooding and storms that caused nearly $5 billion in damages last year, the number of Californians with NFIP

High Insurance Rates Driving Homeowners Out of Florida and California | Insurify

Soaring insurance costs and natural disasters are prompting some homeowners to leave areas and states where the insurance market is in crisis, according to a recent study by real estate company Redfin. Nearly 12% of Floridians who plan to move in the next year said rising insurance costs are the

Different States, Same Problem: A Home Insurance Crisis | Insurify

The U.S. has more than 95,000 miles of shoreline — and every inch of it is at risk of climate-change-driven storm damage, flooding, and erosion. California and Florida — two of the largest, most populous, and economically robust states — account for 3.5% and 8.8% of the

Wildfire Risks Spark Insurance Woes for Utility Companies | Insurify

Homeowners aren’t the only ones facing high insurance rates and difficulty finding coverage because of wildfires. Power companies are also feeling the heat. Utilities in states affected by wildfires are struggling to find affordable insurance — if they can find it at all, according to Bloomberg. “The trouble comes after

State Farm Seeks 38% Rate Hike for California Renters Insurance | Insurify

Hundreds of California renters may soon have to find new insurance, while thousands more could face double-digit rate increases for their renters insurance. In early August, State Farm — the state’s largest insurer — asked the California Department of Insurance to approve a 38% rate increase for the company’s

USAA Home Insurance Rates Climbing for 265,000 California Homeowners | Insurify

Home insurance rates are about to increase dramatically for hundreds of thousands of California policyholders. State insurance regulators recently approved rate increases for two of USAA’s largest subsidiaries. USAA is the sixth-largest home insurer in California. Rates will increase for home and condo policyholders The California Department of