The California Department of Insurance announced new actions to make sure homeowners and commercial business owners are not left without coverage.Tree trimming, brush clearing: These are among the steps many property owners in California have taken to protect their homes and businesses from wildfires.
“Whether you live in the Sierra or the foothills, along the coast or in a city, California is not a 'one-size-fits-all' place, and we need to be inclusive. We are enacting a major reform that will result in insurance companies writing more policies, so if you are stuck on the FAIR Plan because of your unique wildfire risk, there will be help for you,” he added.
Susman is an insurance agent with decades in the industry and tells the NBC4 I-Team insurance companies will also be allowed to use what’s called “catastrophe models” to determine rates for individual owners so there is no blanket “one size fits all” cost.