Homeowners insurance has become a hot button issue at the State Capitol as millions of California residents struggle to find affordable plans after some of the major insurers decided to stop selling new policies in the state.
For months, major insurers have been cutting coverage in California, blaming devastating wildfires, increasing costs and strict regulation.
Livermore resident Sheri Ramsell told KPIX she was dropped by her insurance company after filing a water damage claim. She hasn't been able to find a new company to insure her home. Ramsell said at first she was shocked when she read the letter. Then she got mad. She said she felt it was unfair to drop her after one claim when she'd paid premiums to Mercury for 17 years.
He said consumers are having a difficult time finding a new company for homeowners insurance across California, even in areas that aren't considered a high-fire risk like Shari's neighborhood in Livermore., Allstate and Farmers -- have all publicly announced they are not writing any new policies for any homes anywhere in the state. They claim saying they are paying out too much money in fire losses.
KPIX 5 reached out to Mercury Insurance for comment. A spokesperson said their claims and underwriting teams would be looking into Ramsell's case.called on State Attorney General Rob Bonta to investigate possible collusion to leverage higher prices in the industry. said he believes companies are trying to derail Prop 103, which controls insurance rates in California.
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