That’s made home insurance increasingly unaffordable or even inaccessible – and that’s leaving more people in the same position as the Daneaus.
California’s largest insurer, State Farm, requested a 30% rate increase for its homeowner’s line last month.
Last year, California Insurance Commissioner Ricardo Lara reached an agreement with insurers with an aim to cover approximately 85% of properties in high-risk areas.
“[My insurance plan] wasn’t canceled but my insurance company increased the rates quite a bit,” she said.
But he cautioned there’s no guarantee of that, leaving homeowners like the Daneaus grappling with uncertainty.
Persons:
Los Angeles CNN —, Michael, Kristy Daneau’s, Kristy, Michael Daneau, Kristy Daneau, That’s, “ We’re, ” Michael, ”, aren’t, Justin Sullivan, California’s, it’s, ” Michael Daneau, Ricardo Lara, Kristy Daneau's, what’s, Steve Hawks, Woolsey, Angela Wilson, LAEPF, Wilson, Brent Woodworth, there’s, “ I’m, we’ve, CNN’s Camila Bernal, Sarah Moon
Organizations:
Los Angeles CNN, Gas & Electric, Insurance Information Institute, California Department of Insurance, Farm, State, CNN, FAIR, California FAIR, California, Golden State, The Insurance Institute for Business & Home Safety, Institute for Business & Home Safety, for Business & Home, Los, Emergency Preparedness Foundation
Locations:
Cohasset, California, Paradise , California, Santa Monica, Malibu