Thousands of California homeowners are facing massive rate hikes and non-renewals from their insurance companies, leading to widespread concern and calls for action. Homeowners shared their stories at a recent insurance committee oversight hearing in Los Angeles, voicing opposition to proposed regulations by Insurance Commissioner Ricardo Lara.
Thousands of California homeowners were recently dropped by their insurance companies, with some facing massive rate hikes ."Last year we had 100% full coverage," says homeowner Bruce Breslau. "Now we have half of that."
He's one of several who came to an insurance committee oversight hearing in downtown Los Angeles. They are opposed to Insurance Commissioner Ricardo Lara's proposed regulations. Californians are dealing with rate increases, and insurance policies getting non-renewed or canceled. Lara says insurance companies have asked for rate increases but his regulations will push insurers to resume writing new policies in high-risk areas.
Insurance California Homeowners Rate Hikes Non-Renewals
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