Listen on below as Eric provides insight into several other questions and concerns many California homeowners share on the topic.
Wildfires have significantly effected the home insurance landscape in California. Unfortunately, it has become commonplace for home insurance companies to cancel/non-renew home policies or exponentially increase premiums to cover their potential costs in the event of a catastrophic event.
According to the California Department of Insurance, insurer initiated non-renewals increased by 10% from 2016-2018. New CALIFORNIA FAIR PLAN policies rose by 177% during that same time. From our experience, these numbers have increased significantly in 2019.
We were invited to be the expert on NPR’s Air Talk to discuss the recent wildfires and their impact on home insurance.
“It’s a very challenging time in the insurance world,” Eric says. “Insurance companies have really tightened their guidelines, which resulted in many companies trying to reduce their risk and exposure.”
“It’s the first time in my career where I’ve seen some high-value homes in California which have been totally uninsurable this year,” he continues.
Listen above. Eric Einhorn responds to concerns that many California homeowners share.
