Fire season is upon us, and the increase of fire damage has meant significantly higher insurance premiums and more home sales.
“Insurance has gotten much more difficult in both residential and commercial, and insurers have pulled out of some high risk markets near canyons and brush completely,” Steve Bram, co-founder and principal at George Smith Partners, tells GlobeSt.com. “So, the insurers won’t insure in some markets and there are big price increases in the markets where they will insure. If you have a house in a high-risk market, the insurer might take the policy from $10,000 to $30,000 or $40,000. Those are the kinds of increases that we are seeing.”
Read the full article: More Fires Mean Higher Insurance Premiums (GlobeSt.com)
