California homeowners face insurance crisis

New insurance rules mean homeowners throughout California are likely to pay more after fires
A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in the past.
California’s home insurance prices set to soar
Note that policy costs in these high-risk states, minus California, averaged $5,040 – roughly 150% more than Golden State prices. And the 48-state average policy of $3,200 is 50% above California’s cost. Insurance companies are not saints, but you want them to be profitable.
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Denied Homeowners Insurance? Here's How to Get the Coverage You Need
If you live in a high-risk area prone to wildfires or hurricanes, then securing your property can be difficult.
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Puri | California’s home insurance crisis demonstrates the folly of direct democracy
A 1988 ballot proposition that suppresses premiums has forced the state’s insurance markets to burn alongside Los Angeles, Puri writes.
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California overhauled its insurance system. Then Los Angeles caught fire.
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