How much has your homeowners insurance gone up in the last year or two? If you are a renter, your rent increases may have been because of the run away homeowners insurance policies of late.
My homeowners insurance went up 30% in 2023, tried to go up 30% more in 2024, then this year, 2025; 265%. I worked in the lumber industry during 2021 in purchasing so I saw first hand how fast and far building materials rose as a direct result of Biden's vaccine mandates and controlyavirus policies. Prices quadrupled and more for lumber. But they came back down, somewhat.
What is also fueling it are the new green deal climate-ageddon policies being pushed. And the big three are also pushing for it, as well as all the other strange DEI crap that Bud and Nike did regardless of huge losses.
Here, it looks like California is pushing back, in a way. Apparently insurance companies are flat out leaving states and areas they find higher risk. So state insurance commissions are turning the other way to these huge price hikes to keep insurers in their states.
- California will require property insurers to increase coverage in wildfire-prone areas after homeowners struggle to find policies.
- The new rule mandates insurers to raise coverage by 5% every two years until reaching 85% of their market share.
- Insurers can consider climate change when setting prices in exchange for increasing coverage.
- Major insurers like State Farm and Allstate have halted new policies due to fears of losses from wildfires and other disasters.
California will soon require insurers to increase home coverage in wildfire-prone areas
