Loading...
You are here:  Home  > 
Warning: Use of undefined constant single - assumed 'single' (this will throw an Error in a future version of PHP) in /home/customer/www/thevistapress.com/public_html/wp-content/themes/dailypress/include/breadcrumbs.php on line 38

Warning: Use of undefined constant ai1ec_event - assumed 'ai1ec_event' (this will throw an Error in a future version of PHP) in /home/customer/www/thevistapress.com/public_html/wp-content/themes/dailypress/include/breadcrumbs.php on line 38

Warning: A non-numeric value encountered in /home/customer/www/thevistapress.com/public_html/wp-content/themes/dailypress/include/breadcrumbs.php on line 38

Warning: Use of undefined constant single - assumed 'single' (this will throw an Error in a future version of PHP) in /home/customer/www/thevistapress.com/public_html/wp-content/themes/dailypress/include/breadcrumbs.php on line 54

Warning: Use of undefined constant ai1ec_event - assumed 'ai1ec_event' (this will throw an Error in a future version of PHP) in /home/customer/www/thevistapress.com/public_html/wp-content/themes/dailypress/include/breadcrumbs.php on line 54

Warning: A non-numeric value encountered in /home/customer/www/thevistapress.com/public_html/wp-content/themes/dailypress/include/breadcrumbs.php on line 54
Calendar >  Senator Wilk Urges Insurance Commissioner – Act on Skyrocketing Property Premiums, Coverage Drop

Senator Wilk Urges Insurance Commissioner – Act on Skyrocketing Property Premiums, Coverage Drop

By   /  March 6, 2023  /  No Comments

    Print    

Sacramento, CA -Sen. Scott Wilk (R- Santa Clarita) delivered a letter to California Insurance Commissioner Ricardo Lara calling on him to act immediately on the issue of rising property insurance costs and coverage drops.

“As if life in California wasn’t expensive enough, homeowners are understandably shocked to see their insurance premiums skyrocket or see their policies dropped altogether,” said Senator Wilk. “Because of this, residents find themselves at risk of losing their homes or being unable to sell them. It is a dire situation to say the least.”

On March 1 the Senate Committee on Insurance held a hearing on the matter, listening to experts from the insurance industry, homeowners associations (HOAs) and stakeholders. While California’s troubled insurance market has been a growing problem for years, the issue is now affecting groups such as homeowners associations. In some cases, HOAs have seen their premiums increase as much as 1,000%.

Homeowners who have had their coverage dropped can use the California Fair Plan as a last resort, however the Fair Plan can be costly and currently does not offer policies large enough to cover HOAs.

“With wildfire season on the horizon, I strongly urge the Commissioner to find solutions now to protect millions of California homeowners and prevent a complete failure of the insurance market,” concluded Senator Wilk.

Senator Wilk represents the 21st Senate District, which includes the Antelope, Santa Clarita and Victor valleys. 

    Print    

Do you want more news like this? We're supported by our subscribers and readers!

About the author

Founder

Leave a Reply

Your email address will not be published. Required fields are marked *

You might also like...

Assemblymember Waldron – California’s Budget

Read More →