Home insurance in California has become filled with drama. Major providers are ghosting new customers, dumping their current ones, and giving the state ultimatums. Allstate has been at the forefront of the drama, pulling out first and then giving a list of their demands to the state. Here’s a rundown of home insurance by Allstate in Temecula, CA.
California Steps Up to Protect Homeowners
After devastating wildfires, the California Insurance Commission introduced new consumer protections. These protections were put into place for the summer wildfire season, and they increased payouts to consumers who were affected by fires, as well as reduced the red tape insurance companies required to pay out. In other words, consumers whose homes were damaged by fire receive more money and less hassle from the big insurance companies.
Additionally, a new pricing regulation was put in place to reduce insurance prices for homeowners who follow certain safety measures, such as upgrading their roofs and windows.
No New Policies
In 2022, Allstate ceased issuing new home insurance policies in California. Several other insurers, such as State Farm and Farmers Insurance, followed suit. They claimed they could no longer afford to cover families in California due to natural disasters, such as the California wildfires.
Ultimatum
Since halting new policies for home insurance by Allstate in Temecula, CA, didn’t have the desired effect, Allstate has now given California an ultimatum. Allstate will resume selling new policies only if California makes it easier for them to raise prices for homeowners.
If you’re looking for an alternative to home insurance by Allstate in Temecula, CA, check out Old Harbor Insurance. Their only interest is providing great insurance to California homeowners at an affordable price.
