Farmers Insurance Called to Task on Homeowner Underinsurance ClaimsMost homeowner insurance companies in California have been avoiding responsibility for often massive underinsurance in their customer’s policies, in the wake of wildfires, by saying that it is up to the insured to select policy limits. Underinsurance has been an issue long enough that now some customers […]
What Courts Say About Underinsurance of Homeowner’s Coverage in CaliforniaInsurance companies take the position that they have no responsibility for the amount of coverage their insureds have in the event of a disaster. That way, they can offer very low premiums to compete in the insurance market. And, if there is a wildfire or other […]
Wildfires have decimated swaths of California, leaving entire cities destroyed in their wake. Many of the homeowners affected by these fires have found too late that they were dramatically underinsured and cannot rebuild or buy a similar home. In essence, their insurance is useless to them.The Department of Insurance is aware of the problem and […]
Your news feed is constantly cluttered with natural disasters – wildfires, hurricanes, and floods seem to have become part of our daily conversations. According to a recent study by the Institute for Economics and Peace, natural disasters on a global scale have increased ten times since the 1960s.We often absorb this information with sorrow for […]
The California Fair Access to Insurance Requirements Plan Association or “FAIR Plan” was established by statute in 1968 to meet the needs of California homeowners unable to find insurance in the traditional marketplace. The FAIR Plan is a syndicated fire insurance pool comprised of all insurers licensed to conduct property and casualty insurance business in […]
