Insurance companies are dropping customers in San Francisco due to extreme weather risks and if they fail to make unaffordable home upgrades.
Homeowners who still can get coverage are struggling to afford the sky-high premiums and risk having to pay out of pocket for natural disasters.
What’s happening?
As the San Francisco Chronicle reported, California’s insurance crisis is worsening.
Many insurers are telling homeowners they must make roofing and electrical repairs and replacements to keep their policies. As a result, an increasing number of San Franciscans are enrolling in the California FAIR plan, which provides the most basic but high-cost insurance to people who can’t get a policy through traditional insurance companies…