I just read this and I cannot believe it?! There are plenty of houses that pay homeowner insurance but haven’t spent a dime yet. Also, their CEO makes more than $25 million each year. I don’t understand why they don’t have money and are having us overpay?! I needed to vent, but also, what other homeowner insurance options should I look at?
“State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for homeowners from state officials on Monday, citing a ‘dire’ financial situation after destructive Los Angeles wildfires last month.”
Allstate, Farmers, USAA, Travelers, Nationwide, and last I heard even Lloyds have all stopped writing new policies. State Farm too, though they are still renewing existing policies so the OP is lucky to have that option. I believe AAA will still write new policies in lower fire risk areas but only as part of a bundle with car insurance.
@Kerr
There may be some niche, smaller carriers. I’m familiar with the coastal NC market, which has insurance issues as well. All the policies I see here are from smaller companies I’ve never heard of.