Your Top Insurance Questions Answered: Fire Safety, Non-Renewals, and CAT Models

Published Date: 08/13/2024

In this episode of "Insurance Hour," hosted by Karl Susman, the focus is on addressing common questions from Californians about various insurance topics. Karl discusses the importance of building homes with fire-resistant materials and the guidelines provided by the Safer from Wildfires organization. He explains the viability of the private home insurance model in California, highlighting the Sustainable Insurance Strategy set by the Department of Insurance. Karl answers queries about non-renewal notices from companies like State Farm, the concept of fair rates in high fire zones, and the solvency of the California Fair Plan. Additionally, he delves into catastrophe modeling (CAT models) and its implications for future insurance coverage. The show also covers the importance of earthquake insurance, mobile home insurance, and the role of the Fair Plan in providing fire insurance. Throughout the episode, Karl emphasizes the need for consumers to stay informed and proactive in managing their insurance needs.