Some high-risk areas have seen rate increases of nearly 300% since 2020.
Getting an affordable homeowners insurance policy in California is becoming harder and harder, especially in areas with higher wildfire risk. Homes near undeveloped wildland vegetation, nearly a third of California homes, are at greater risk of burning and face much higher premiums for fire coverage or an inability to secure coverage at all.
In many places this number has been rising. Since 2020, some areas in the hills east of San Diego have seen the biggest increase, with their factor nearly tripling and pushing premiums above $20,000 before deductions.Premium calculations are based on a coverage amount of $850,000. Insurers are allowed to use wildfire models to determine where to write policies. As a result, many of the areas facing high rates due to the location rating factor are also at a greater risk of nonrenewal. In recent years, nonrenewals disproportionately hit high-risk areas harder.
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