Reported about 12 hours ago
Recent wildfires in the Los Angeles area have intensified California's existing home insurance crisis, as many insurers retreat from providing coverage due to high fire risks. Wealthy areas like Pacific Palisades, struck hard by the latest fires, are experiencing significant property destruction and challenges in insurance availability. The state has implemented new regulations allowing insurers to raise premiums and consider climate risks, but homeowners may soon face higher premiums and limited insurance options, especially those relying on the state’s FAIR Plan.
Source: YAHOO