I got four quotes for fire insurance on my N. California house and the FAIR plan was the least expensive. I keep seeing it described as “last resort” and “most expensive,” but thus far at least, that wasn’t my experience. Not sure why.
Yes, because they are forcing the insurance companies to write you FAIR policies for less than the policy costs them. You better snag that policy for as long as you can lock it in for, because something is going to give at some point and it’ll stop being that way, one way or another.
Yeah, all the policies were only 12 months at a time. Now I’m hearing chatter about “special assessments” on plan holders, but I don’t know how much stock to put in those speculations. For now I’m just riding things out and seeing what happens since there’s basically nothing else I can do anyway.
I got four quotes for fire insurance on my N. California house and the FAIR plan was the least expensive. I keep seeing it described as “last resort” and “most expensive,” but thus far at least, that wasn’t my experience. Not sure why.
EDIT: typo
Yes, because they are forcing the insurance companies to write you FAIR policies for less than the policy costs them. You better snag that policy for as long as you can lock it in for, because something is going to give at some point and it’ll stop being that way, one way or another.
Yeah, all the policies were only 12 months at a time. Now I’m hearing chatter about “special assessments” on plan holders, but I don’t know how much stock to put in those speculations. For now I’m just riding things out and seeing what happens since there’s basically nothing else I can do anyway.
That’s great! I’m glad it’s there for you.