San Mateo County leaders are asking Gov. Gavin Newsom to intervene and declare a state of emergency over California’s home insurance crisis.
The move follows other counties, including Shasta, Placer and San Bernardino, calling on the state to take action.
The San Mateo County Board of Supervisors voted 4-0 to adopt a resolution calling for a state of emergency. District 3 Supervisor Ray Moeller is leading the effort, as his constituents, some of whom live in unincorporated areas, have been affected by rising costs and complete cancellation of home insurance policies. said.
“Right now, with the increase in wildfires and natural disasters, people living in rural areas of the state’s forested areas are the most affected, and the state is making significant changes in insurance affordability and accessibility,” Mueller said. It is no exaggeration to say that we are facing an insurance crisis.” . “We’re seeing this all over my district. People are losing insurance, their premiums are going up. It’s an incredible problem.”
If policyholders are unable to continue coverage through a private insurance company, they have the option of obtaining coverage through the California Fair Plan, but this is a last resort. That’s because, as Mr. Mueller says, the fees double or even triple, even though no compensation applies. same.
The Mercury News reported that State Farm expects to cancel 1 million policies in California over the next five years.
Others agree with Mueller that the insurance crisis could slow or halt the housing market, with further ramifications for affordable housing.
