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California Bans Insurance Cancellation, Non-Renewals In LA Areas Affected By Fires • Hollywood Unlocked

rmtsa by rmtsa
January 12, 2025
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California Bans Insurance Cancellation, Non-Renewals In LA Areas Affected By Fires • Hollywood Unlocked
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In a major move to protect homeowners impacted by recent wildfires, California Insurance Commissioner Ricardo Lara has imposed a ban on insurance companies from canceling or refusing to renew policies for residents in areas affected by the Palisades and Eaton fires.

This decision, announced by his office, is set to remain in effect for one year and will be retroactively applied starting from October 9.

Lara clearly explained the importance of this measure, stating, “This means that if you’ve received a non-renewal from your homeowners insurance between Oct. 9 and Jan. 7, essentially 90 days, your insurance company should do the right thing and retain you as a valued policyholder.” This directive aims to provide a sense of security for those dealing with the aftermath of devastating and extremely heartbreaking fires.

RELATED:Khloe Kardashian Goes Off on Mayor Karen Bass Over Wildfires: “You’re a Joke!”

RELATED:Donald Trump Slams Governor Gavin Newson For The Devastating Wildfires In California

The insurance landscape in California has become increasingly precarious, with numerous companies pulling back due to the escalating risks associated with wildfires. Notably, State Farm announced in 2023 that it would cease accepting new homeowners insurance applications in the state. Additionally, the company plans to discontinue coverage for 72,000 homes and apartments, citing catastrophic risk as a primary concern. This trend has been echoed by other insurers, who have also begun to withdraw coverage, even in areas previously considered to be at lower risk for wildfires.

The reasoning behind these drastic measures is highlighted by Dave Jones, director of the Center for Law, Energy & the Environment at UC Berkeley. According to him, “When insurance companies face higher losses or payouts, they typically respond in two ways: raise premium prices and stop renewing policies or writing new policies. California insurers are doing both.” This cycle of increasing costs and diminished coverage options poses a significant challenge for homeowners seeking to protect their properties.

For those who currently hold insurance policies and are concerned about potential damage to their homes, Lara advises prompt action. He suggests that homeowners begin collecting necessary documentation to file claims with their insurance providers. “Start documenting every conversation,” he instructed. “I often tell survivors – even set up a new, different email where you’re getting all your emails around your insurance recovery policies so that you could keep that and track that and document that. That’s critical.”

However, amid these challenging times, Lara warns of the risks of fraud. He urges homeowners to be vigilant and cautious when approached by individuals offering assistance. “Do not sign anything under stress,” he cautioned. “You have out-of-state adjusters that make false promises that don’t know California law and how we protect consumers here,” he added, emphasizing the need for caution during such vulnerable periods.

As California navigates the complexities of wildfire recovery and insurance challenges, these measures aim to safeguard homeowners and ensure they have the support they need in the face of adversity.

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Tags: AffectedareasBansCaliforniaCancellationFiresHollywoodInsuranceNonRenewalsUnlocked
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