HOMEOWNERS CONCERNED AMID CALIFORNIA'S HOME INSURANCE CRISIS

Thousands of people in the Bay Area and many more throughout California are in limbo right now in terms of their insurance coverage. A possible legislative deal to keep insurance companies from fleeing the state collapsed, and now many homeowners are worried they may not be able to find insurance for their homes. California’s record number of catastrophic wildfires is the main reason many insurance companies say they can’t afford to stay. They said that they are spending too much to pay claims, while the state is limiting how much they can raise their premiums through regulations and voter-passed protections such as proposition 103.

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