Schneiderman Insurance Agency, Inc. Blog
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How California’s Homeowners Insurance Market Fell Into Crisis—And What’s Being Done To Fix It2/6/2025 For decades, homeowners insurance in California was predictable—a competitive marketplace, stable rates, and widespread availability. That’s no longer the case.
Today, homeowners across the state are facing skyrocketing premiums, policy non-renewals, and shrinking coverage options. Insurers are pulling back from high-risk areas, while others have stopped writing new policies entirely. At the same time, California’s auto insurance market is also in crisis, with drivers experiencing similar issues—rising premiums, fewer carriers, and stricter underwriting. While these two crises share some common causes, including outdated regulations and rising claims costs, they also have distinct challenges. For homeowners, the biggest issue isn’t accident lawsuits or repair costs—it’s the growing threat of wildfires and the financial risks insurers face when covering homes in high-risk areas.
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We’re thrilled to share that Schneiderman Insurance Agency was recently featured in an article on MSN, Yahoo Finance, AOL, and GOBankingRates! The article, written by Heather Altamirano, highlights expert strategies for homeowners to safeguard their finances against extreme weather. We’re honored to have contributed insights that can help protect families and their properties.
The California FAIR Plan (Fair Access to Insurance Requirements) is an essential safety net for property owners across California. Created to address the challenges of obtaining property insurance in high-risk areas, it has become a vital resource in regions prone to wildfires and other natural disasters. This article explores how the FAIR Plan works, its origins, and what might happen if it faced exposure beyond its capacity after a catastrophic event.
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