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Fire Insurance Non-Renewals Dropping?

The number of homeowners non-renewed by insurance companies fell by 10-percent, statewide, in 2020, compared to the previous year. That’s according to a new report released by the California Department of Insurance. Nevada County Senior Management Analyst, Jeff Thorsby, says there was also a similar, rather marginal decline in this area. But, as also reflected in the report, a number of homeowners had to switch to the state’s FAIR plan, after they were dropped by private insurers for living in a high wildfire hazard area…

click to listen to Jeff Thorsby

And the mandatory one-year policy moratoriums for homeowners living in such areas, that can now be issued by Insurance Commissioner Ricardo Lara, were also a factor. Thorsby says they made up for more than 80-percent of the non-renewal reductions.

click to listen to Jeff Thorsby

Thorsby says around 75-percent of all improved parcels in Nevada County are in hazardous or extreme fire danger zones. So the county will continue to work with legislative representatives on this issue.

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