Californians in Fire Prone Areas Struggle to Find Insurance

KQED's Forum

KQED

News Commentary, News, Politics

4.2 • 727 Ratings

🗓️ 1 July 2021

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

California bars insurance companies from cancelling residential property insurance policies for homes in places that burned in the 2020 wildfires. But after years of catastrophic fires, insurance companies are refusing to renew policies for a growing number of the 3 million Californians who have homes in high wildfire risk zones. Finding replacement coverage can cost many times more than an original policy. Now, the insurance industry is talking about raising rates based on a home’s exposure to climate change induced catastrophe. We’ll hear about a growing crisis in the state’s insurance market, and what the industry, consumer advocates, and legislators are trying to do about it. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:30.1	From KQED.
0:31.1	Thank you. From KQED Public Radio in San Francisco, I'm Mina Kim. Coming up on Forum, one of the effects of California's more frequent and intense wildfires has been the inability of homeowners in fire-prone areas to afford or even keep their insurance.
0:59.0	After years of catastrophe, insurance companies have seen profits wiped out and are refusing to renew policies,
1:05.0	and replacement coverage can cost many times more than an original policy.
1:10.0	We look at the growing crisis facing lawmakers, the industry, and consumers as California enters wildfire season amid drought and historic heat waves.
1:20.0	Join us. This is Forum. I'm Mina Kim. A growing number of Californians who live in fire-prone areas are finding it harder to keep or afford their homeowners insurance. Premiums and non-renewal rates have
1:45.1	spiked since 2015, as insurers feel the sting of payouts from damages caused by the
1:50.8	state's more intense and destructive fires. We look at how the industry, consumer advocates,
1:56.8	and lawmakers are trying to address the problem. Joining me first is Miranda Green, a Los Angeles-based freelance journalist
2:04.6	who covers climate change. Miranda Green, thanks so much for being with us.
2:08.6	Thanks for having me.
2:09.6	Can you start by giving us a sense of what it's been like for homeowners
2:13.6	who live in these high hazard zones, these fire prone areas when it comes to
	...

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