Victims of the Pacific Palisades fire face another harsh reality: No insurance to rebuild
Even before this week's devastating wildfires left thousands of structures in smoldering ruins across some of the most affluent Los Angeles neighborhoods, the state of California faced an existential insurance crisis.
California is in a home-insurance crisis. The Pacific Palisades fire will only make it worse
We need to make it incredibly expensive to build in these kinds of environments,’ one expert told The Independent. ‘If the insurance industry refuses to sell policies, maybe people won’t risk it’
Yes, State Farm ended insurance coverage for many in the Pacific Palisades in 2024
State Farm cited “catastrophe exposure” as one reason it wasn’t renewing policies for many Californians, including those in Los Angeles’ Pacific Palisades.
How the devastating Los Angeles fires could deepen California’s home insurance crisis
The massive fires that have destroyed much of Pacific Palisades and demolished thousands of homes and structures in Los Angeles County threaten an effort to fix California's troubled home insurance market.
Why the LA wildfires will worsen California's insurance crisis — even for fire-safe regions
Californians were already fighting to find affordable insurance policies.
California overhauled its insurance system. Then Los Angeles caught fire.
The Palisades Fire could cause more than $10 billion in damages, further straining the state’s fragile insurance market.
How will LA's devastating fire losses affect insurance and home costs?
The current fires are on track to become one of the most costly disasters in California history. That could threaten the stability of California's insurance market and make housing costs go up even more.
How will the California wildfires shape the home insurance industry?
In recent years, insurers like Allstate, American National, The Hartford and State Farm have stopped renewing policies or issuing new policies for California homeowners.
How the Wildfires in the Los Angeles Area Could Affect California's Home Insurance Market
The wildfires that destroyed homes in multiple sections of the Los Angeles area will test California’s efforts to stabilize the state’s insurance marketplace after many insurers stopped issuing reside
LA fires could break California's insurance market
Wednesday's firestorm in a wealthy area of Los Angeles could be the final straw that breaks California's insurance market. The state's insurance market has been teetering on the edge of insolvency for years thanks to catastrophic wildfires that have driven many insurers to stop writing new policies and drop existing ones.
Pacific Palisades fire may spell an end to cheap homeowners insurance in California
By Andy Sullivan The Pacific Palisades area ravaged by wildfires in Los Angeles is one of the most expensive neighborhoods in the U.S., home to Hollywood A-Listers and multimillion dollar mansions. And ahead of this week's disaster,
Thousands of Los Angeles homeowners were dropped by their insurers before the Palisades Fire
About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.
State Farm canceled California homeowners’ insurance policies months before wildfires
The insurance company canceled thousands of California homeowners' insurance policies last year in an attempt to avoid ...
Valley representatives warn of California’s harsh fire insurance reality
Last year, State Farm said it was cancelling coverage for 72,000 houses and apartments in California. Local representatives said millions of residents whose homes were ...
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First the fire, then the insurance vacuum
First your home burns to the ground, then you remember that the insurance company canceled your policy a few months ...