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News & Press: Industry News

Will Escalating Homeowner Insurance Rates Slow Sales?

Tuesday, August 20, 2019  
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The Sacramento Bee reported that two consecutive disastrous wildfire seasons have created an insurance crisis for thousands of Californians who live in and around fire-prone areas. Some homeowners are seeing rates triple, or are just simply being cancelled. Replacement policies are hard to find as insurers scale back their risk. The Bee reported that 11 of the 15 largest homeowner insurance companies had loss ratios of over 100% on California policies in 2018. Six of the companies had loss ratios over 200%. Prospective homebuyers are now carefully looking at insurance rates before buying and there are now reports of lost sales due to the insurance crisis in fire prone areas.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851