I’m extremely pleased to announce that our Board of Supervisors unanimously passed a resolution on Tuesday to address the California insurance crisis that is adversely impacting both homeowners and businesses in the state.
For the past two years, many of our constituents — particularly in the mountain and foothill communities — have been dropped by big carriers such as Allstate and State Farm, forcing them to find other insurance companies to keep their mortgages.
Unfortunately, the only insurance option for most high-risk fire areas is the California Fair Access to Insurance Requirements (FAIR) Plan, and most lenders also require wraparound liability insurance for an additional cost. Many residents have seen their rates triple since being dropped by their former carriers.
Our resolution asks Insurance Commissioner Ricardo Lara, Governor Gavin Newsom and the State Legislature to declare a State of Emergency and take immediate action to expand coverage choices, improve the approval process, and ensure the long-term viability of both the homeowners/commercial insurance market and the FAIR Plan.
To see the full resolution passed by our Board, click here.