Insurers declined to renew 167,570 of the 9.65 million homeowner policies in the
"I have heard from many local communities about how not being able to obtain insurance can create a domino effect for the local economy, affecting home sales and property taxes," Lara said in a prepared statement. "This data should be a wake-up call for state and local policymakers that without action to reduce the risk from extreme wildfires and preserve the insurance market we could see communities unraveling."
In the top 10 counties with the most homes located in the highest risk wildfire areas -- which don't include
The full effects locally on homeowners' ability to secure private insurance after the Tubbs fire two years ago has yet to be determined because state law requires insurers to renew property insurance policies for two years following a total loss from a natural disaster.
What's clear is property insurers have been assessing their risks statewide and are seeking to increase annual premiums on homeowner policies covering properties located in areas with greater chances of being damaged or destroyed in future wildfires. During the past two years, home insurers have submitted more than 100 requests for premium increases to the state insurance commissioner. That is more than double the number of requests for premium hikes in 2015 and 2016.
Last year, insurers refused to renew 2,323 homeowner policies in
"A lot of people who haven't rebuilt got tired of paying (for homeowner insurance) on an empty lot," Bach said of
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