Wine Country fire threat spreads to insurance coverage

By Susan Wood
The North Bay Business Journal
April 25, 2024
Category: Business & Politics
Region: United States, US West

Two North Bay congressmen, U.S. Reps. Mike Thompson, D-St. Helena, and Jared Huffman, D-San Rafael, said Thursday they don’t want homeowners and renters coping with the concern of wildfires and balking insurance companies to get burned twice. In a press conference Thursday, they discussed disaster resilience legislation introduced at the end of last month. The lawmakers gathered with a group that included local government officials and real estate and construction industry experts to take on “the surge of insurance companies pulling out of the California market”. California’s largest insurer, State Farm, chose to not renew 72,000 home and apartment insurance policies. State Farm wasn’t the only insurer to pull back coverage. …If passed, HR 7849, the Disaster Resiliency and Coverage Act of 2024, will provide a program through state governments that offers $10,000 in grants for home hardening improvements. …The situation may also cause builders to hesitate to provide housing at a time when the region needs it….

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