MySafeLA Meeting Recap - Fire Insurance
** On September 21, 2023 a new insurance deal was agreed to**
By December 2024, the California Department of Insurance will require insurance companies to write at least 85% of their statewide market share in fire-distressed areas selected by the commissioner
Insurance companies may use forward looking “AI” modeling to establish “Fair Market” Rates. This also affects California “Fair Plan”
California Fair Plan Key Facts:
You must prove you’ve been turned down for fire insurance by a primary provider
Maximum coverage for a non-commercial property is $3 million
Intended as a “stop gap” temporary solution
A separate policy for contents and other coverage is typically needed for most homes
Fair Plan Discounts:
If you’ve hardened your home
If you’ve defended your property
A sliding scale is used to determine discounts
Your property and structure(s) must be inspected
Discount Factors (Scalable)
Immediate surroundings protections::
Cleared vegetations and debris from under decks
Removal of combustible shed and other outbuildings from the immediate surroundings of the home, to at least a distance of 30 feet
Defensible space compliance (including trimming trees, removal of brush and debris from yard, and compliance with state law and local ordinances)
Structure Protections:
Class-A fire rated roof
Maintain a 5-foot ember-resistant zone around a home (including fencing within 5 feet)
Noncombustible 6 inches at the bottom of exterior walls
Upgraded windows (doubled paned or added shutters)
Enclosed eaves