emergencyBreaking NewsKim Tucker Tremblay’s Boston Marathon Run Targets $9,000 for Hopkinton Emergency FundMortgage Rates Dip as Global Tensions Ease, but 'Lock-In' Effect Inhibits RefinancingA three-month extension on margin rule compliance could prevent forced sell-offs in Bangladesh’s distressed marketFundstrat Predicts S&P 500 Target of 7,300 as Sector Repricing Limits Pullback DepthStrong corporate earnings and investor skepticism keep markets from collapsing during Middle East crisisKim Tucker Tremblay’s Boston Marathon Run Targets $9,000 for Hopkinton Emergency FundMortgage Rates Dip as Global Tensions Ease, but 'Lock-In' Effect Inhibits RefinancingA three-month extension on margin rule compliance could prevent forced sell-offs in Bangladesh’s distressed marketFundstrat Predicts S&P 500 Target of 7,300 as Sector Repricing Limits Pullback DepthStrong corporate earnings and investor skepticism keep markets from collapsing during Middle East crisis
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Home/Financial Foundation/HOMEOWNERS INSURANCE RATE HIKE · STATE FARM

California's last-resort insurance plan faces insolvency risk as homeowners flee private markets

HP

Hayden Pemberton

homeowners insurance rate hike · Apr 9, 2026

California's last-resort insurance plan faces insolvency risk as homeowners flee private markets

Source: DojiDoji Data Terminal

Homeowners in fire-prone areas are opting into the state's last-resort insurance program rather than using it as a last resort. This shift is driven by the cost of FAIR Plan policies in some areas becoming comparable to traditional coverage options.

The trend is a result of the the California Department of Insurance being slow to approve rate increases for the FAIR Plan.

As insurers such as State Farm and Allstate have paused writing new home policies in California, hundreds of thousands of homeowners have enrolled in the FAIR Plan. The program is a state-mandated entity operated and financed by private insurers to provide bare-bones disaster protection.

Related Brief1d ago
high school athletics

A high school relay team breaks a 44-year-old record, revealing the value of incremental gains

A high school relay team has broken a record that held for 44 years. Civic Memorial’s boys 4x200 relay team — Parker Walters, Ty Books, Reed Wallace, and Grady Farrell — ran the event in 1:33.22 at the O'Fallon Relays, surpassing a mark set in 1979. The previous record had stood longer than any of the runners had been alive. Their performance earned them recognition as Tom Lane State Farm Insurance Male Athletes of the Month. Coach Jacob Peal noted the group’s time was not a ceiling. He believes they can run faster, possibly under the state qualifying standard by May. The team also has the depth, he said, to threaten school records in all four relay events this season — if everything aligns.

The rapid expansion of the program now jeopardizes its ability to pay claims.

homeowners insurance rate hikeState Farmhomeowners insurance dropped

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