California will soon require insurers to increase home coverage in wildfire-prone areas
- California will require property insurers to increase coverage in wildfire-prone areas after homeowners struggle to find policies.
- The new rule mandates insurers to raise coverage by 5% every two years until reaching 85% of their market share.
- Insurers can consider climate change when setting prices in exchange for increasing coverage.
- Major insurers like State Farm and Allstate have halted new policies due to fears of losses from wildfires and other disasters.
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Coverage Details
Total News Sources0
Leaning Left10Leaning Right6Center19Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 29%
C 54%
R 17%
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