Santa Cruz Mountains residents still recovering from the CZU wildfires face a new looming crisis as the FAIR Plan — California’s fire insurer of last resort — proposes rate increases as high as 50% for homeowners in some fire-prone areas. That has left many residents fearing they can no longer afford to stay.
insurance
Posted inLatest News
Some county homeowners face proposed insurance rate hikes up to 50% as FAIR Plan struggles with fire risk
Nearly 11,000 Santa Cruz County residents insured through California’s FAIR Plan could face average fire insurance rate hikes of nearly 36% starting in 2026 as part of a statewide proposal submitted to the Department of Insurance.
Posted inPolitics & Policy
Ricardo Lara proposes insurance rule that critics call ‘revenge’
California’s insurance commissioner has sparred with Consumer Watchdog, which says a proposed rule Ricardo Lara says will make the rate-review process more efficient is retaliatory.
Posted inSan Lorenzo Valley
Santa Cruz Mountains housing market is still popular post-CZU — but buyers face new difficulties
Despite the destruction the CZU fires brought to the Santa Cruz Mountains, prospective homebuyers continue to look in part due to better value for price. But anxious memories are making some think twice, while insurance uncertainty makes purchasing there a bigger gamble than before the fire.
Posted inPolitics & Policy
State Farm wins first-ever emergency rate hike in California
Insurance Commissioner Ricardo Lara’s unprecedented approval for State Farm in the wake of January’s ruinous fires in the Los Angeles area means the company can raise premiums in California next month.
Posted inBusiness & Technology
State Farm moves one step closer to emergency California rate hike
After a three day hearing this week, State Farm is one step closer to approval for a rate hike on its California customers.
Posted inPolitics & Policy
California lawmakers propose fixes for ‘insurance industry in shambles’
From pushing for oversight of the FAIR Plan to providing tax breaks for premiums, California lawmakers have put forward a number of bills to try to fix insurance market problems.
Posted inLatest News
Big homeowners insurance rate hike from State Farm shot down by California regulator
In the wake of the Los Angeles fires, State Farm asked for an “emergency” premium increase of 22% on average for California homeowners. On Friday, California Insurance Commissioner Ricardo Lara denied the request pending more information.
Posted inOpinion from Community Voices
Fire insurance – it’s getting harder to get, and keep, even in urban areas of Santa Cruz County
It’s getting tougher for Californians to get and keep fire insurance, writes Lookout politics columnist Mike Rotkin, and it’s not just people living in fire-prone, forested areas like Bonny Doon and the Santa Cruz Mountains. “People living in downtown Santa Cruz and on the Westside and Eastside have recently been shocked to discover that they need to find a new home insurance company – and that they need to do so in a hurry,” he writes.
Posted inBusiness & Technology
Santa Cruz County agents say new insurance rules offer hope for homeowners, even as fires rage in Southern California
Santa Cruz County agents see a glimmer of hope in new state regulations aimed at enticing insurance companies back to the California market, though questions about access and affordability remain.