Homeowners in California are increasingly struggling to obtain and maintain insurance coverage due to high payouts from natural disasters and current regulatory issues. Many insurance carriers have exited the state, complicating the home buying process and threatening renewals for current policyholders. With recent wildfires intensifying these concerns, homeowners are urged to review their insurance policies with agents. Experts like Michelle Lin stress the importance of informing insurance providers about home upgrades to avoid underinsurance, which can often result from neglecting to report renovations that affect rebuild costs and premiums.
Many homeowners are facing renewed challenges with insurance coverage, prompting urgent discussions in Sacramento amid rising natural disasters and policy adjustments.
Insurance professionals advise homeowners to proactively communicate updates to their policies, ensuring coverage matches actual home value, especially after renovations.
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