California FAIR Plan Seeks Insurance Premium Hike of Nearly 36%

California FAIR Plan seeks insurance premium hike of nearly 36%

Homeowners in California might be facing a steep increase in their insurance costs. The California FAIR Plan, the state’s insurer of last resort, is seeking an average rate hike of 35.8%. If granted, this would be the largest hike recorded by the FAIR Plan in several years.  This proposed rate hike would be the largest increase since 2019, when rates rose by an average of 20.3%. In 2021 and 2023, rates went up by 16% in each year, although 2023’…

Bay Area community will have to use California FAIR plan as rate hike looms

By John Ramos The entire city of Clayton shares a common ZIP code, 94517. And hundreds of its homeowners there share something else: They’ve all been kicked out of their insurance companies and sent to the California FAIR Plan. The 215 homeowners have been “non-renewed” and sent to the FAIR Plan, which covers only fire loss and can cost thousands of dollars more than private insurance.   The FAIR plan was supposed to be just for those at the hig…

California FAIR Insurance Seeks 36% Rate Increase Due to Growing Wildfire Concerns

The California FAIR Plan, which provides basic fire insurance to California property owners unable to obtain private insurance, has filed a proposal to increase insurance rates by 35.8%. If approved, this rate hike would begin April 1, 2026, making it the program’s largest rate increase in seven years.  The California FAIR Plan alone only covers… The post California FAIR Insurance Seeks 36% Rate Increase Due to Growing Wildfire Concerns appeared…

KTVU Mornings: CA Fair Plan Proposes 35.8% Insurance Rate Hike

The post KTVU Mornings: CA Fair Plan Proposes 35.8% Insurance Rate Hike appeared first on Consumer Watchdog.