In fire-prone California, many residents can’t afford wildfire insurance

residents can’t afford wildfire insuranceOver the past several years, premiums have risen significantly – as much as 300% to 500% in many cases. And in many high-risk areas, insurers are increasingly opting not to renew coverage.
In the past four years insurers have dropped more than 340,000 policyholders in fire-prone areas. Owners who can’t find private wildfire insurance must rely on California’s FAIR plan, a state-backed pool of insurers who provide basic coverage for a high price as a last resort.
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