Homeowners in Southern California are worried about potential insurance rate hikes due to new wildfire hazard maps, which expanded very-high fire zones by 26%. However, it was clarified by experts that insurance companies rely on their own, more detailed, and updated maps rather than the state's maps to assess risk. This consensus among insurance professionals is aimed at alleviating homeowners' fears about immediate rate increases linked to the new hazard designations, emphasizing that the state's maps do not dictate insurance policies or pricing strategies.
"We don't use these maps to determine risk — our private data is more reliable and tailored to what we see on the ground." — Janet Ruiz, Insurance Information Institute representative.
"People are nervous about it…but insurance companies don’t rely on these maps to decide who they're going to insure and how much they're going to charge." — Amy Bach, United Policyholders.
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