US EditionLA fires could drastically drive up insurance premiums -- and test California's new market rules
- Thousands of families displaced by the January 2025 Pacific Palisades and Eaton wildfires in Los Angeles triggered a surge in home sales and prices across affected neighborhoods.
- The destruction of homes and forced relocation of roughly 13,000 families led to real estate activity soaring especially in neighborhoods near fire zones.
- Condominiums saw a 12.4% median price increase to $1.18 million, while Brentwood single-family homes rose nearly 47% in median price to $5.1 million amid high demand and new luxury developments.
- State Farm has received about 12,500 fire-related claims, paid over $3.12 billion so far, but faces numerous complaints about smoke damage claim delays and seeks a 17% rate hike under review.
- Insurance Commissioner Ricardo Lara has requested detailed information from State Farm, setting a May 9 deadline for their response, and indicated that he will evaluate their reply before deciding on further action, highlighting increased regulatory scrutiny.
12 Articles
12 Articles
Company accused of denying insurance claims from LA fire survivors asks for a rate hike
Rossana Valverde’s Pasadena home of 35 years is still standing after Los Angeles County’s devastating January fires — but more than 100 days later, she and her husband still can’t move back in.This story was originally published by CalMatters. Sign up for their newsletters.That’s because they’re waiting for their insurer, State Farm, to approve and process their claims. “We were lucky our house made it through,” Valverde said. “At first we thoug…
Cal Matters
Santa Monica Daily PressL.A. fire survivors accuse State Farm of delaying claims. Should it get OK for a rate hike?
California regulator investigates State Farm over L.A. fire survivors’ complaints as insurer awaits approval of rate increase.
After LA fires, could it be cheaper and faster to rebuild without gas?
The wildfires that ravaged parts of Los Angeles County in January were the most catastrophic in its history . Made worse by climate change , the disaster caused as much as $131 billion worth of damage and destroyed more than 16,000 homes and other properties. In the name of a speedy recovery, LA Mayor Karen Bass, a…
Brentwood News
Prices Spike in Brentwood, West Hollywood, and Santa Monica Amid Post-Fire Housing Rush
Displaced Families Are Reshaping Los Angeles’ Housing Market on the Westside Home sales and prices across Los Angeles surged in the first quarter of 2025 as thousands of residents displaced by January’s devastating wildfires scrambled to find new housing, according to a report released Thursday by Douglas Elliman. Fueled by the Pacific Palisades and Eaton fires, which destroyed homes and forced roughly 13,000 families to relocate, real estate ac…
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