Check Your Fire Insurance Renewal Date . . . Before October 15th

10 hours ago

2 min read

If your home is insured through the California FAIR Plan, I want you to hear this from me before your next bill hits.

Starting October 15, FAIR Plan rates go up an average of 29.1%. That's the average. About half of policyholders will see increases between 30% and 50%. If your policy renews on or after October 15, the new rate applies automatically. You don't have to sign anything for it to hit.

A lot of families are on the FAIR Plan because they had no other choice. Their insurer left, or never would write them in the first place. Manufactured home owners have been hit especially hard. The FAIR Plan was built to be a last resort. Today it covers close to 700,000 policies, more than double what it did four years ago.

There is some good news. More companies are starting to write policies in California again. State Farm and Allstate have both filed plans to reopen to new customers, though in limited numbers and mostly for homes with wildfire hardening in place.

So here's what I'd do this week:

Find your renewal date. It's on your declarations page.

Call an independent broker before October 15. Ask them to shop the private market for you. There may be options now that weren't there last year.

Ask about discounts for home hardening. Ember resistant vents, Class A roofing and cleared defensible space can lower your premium and, more and more, decide whether a carrier will cover you at all.

Get help if you're stuck. The California Department of Insurance consumer hotline is 800-927-4357.

People shouldn't have to choose between keeping their home insured and keeping up with everything else. I've been pressing the state for real answers on this, and you can add your voice at SupervisorJimDesmond.com/FireInsurance.