In California’s rural counties, scores of homeowners are losing their wildfire insurance. Homeowners said their policies have been canceled because of concerns about wildfires and they are quickly learning that premiums are now double or triple the price they used to pay.
"People buy a house, put it in escrow and they either find out they can't get insurance or it's so expensive they can't afford it,” said Camino resident George Osborne.
The situation is “dire,” according to the El Dorado County Board of Supervisors. They wrote a letter to Insurance Commissioner Ricardo Lara, demanding action. The article includes a link to a survey of more than 700 El Dorado County residents about, “what best describes what has happened to your homeowner insurance in the last two years?
- 13% said their insurance was canceled
- 21% indicated they are paying much higher premiums
- 49% said they renewed their policies at the same price