Residents Face New Risk After Wildfires: Insurers Dropping Their Homeowner Policies
However, a few weeks ago, the Elkhourys were notified by a different insurer the coverage on their vacation home in
The couple has owned the 2,000-square-foot property in the
"Our property has never been threatened up there. If that's a high risk, I just can't imagine what it is for
She now fears the same scenario could happen with the family's
The Elkhourys' experience is playing out across
There is no official count of how many county or state homeowners are receiving home insurance cancellation letters, but insurance agents said they expect the number will increase this year as insurers comb through their customer files and drop coverage of properties in regions where they have an overconcentration of risk.
"Folks have started to get notified the last six to eight months. ... It's going to continue," said
The downside for those who receive such letters from home insurers? Get ready to pay an annual premium about double, at minimum, to cover your home with a new insurer, Stark said.
Despite the uptick of insurers not renewing homeowner policies in risky areas, the
That's not the case in the Golden State. The
___
(c)2019 The Press Democrat (Santa Rosa, Calif.)
Visit The Press Democrat (Santa Rosa, Calif.) at www.pressdemocrat.com
Distributed by Tribune Content Agency, LLC.
State urged to fund second Niagara Scenic Parkway roundabout
Columbia Fire and Rescue partners with American Red Cross
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News