State Farm and Allstate have stopped accepting new applications for property and casualty insurance in California.
Allstate quit months ago.
State Farm recently announced its decision, which doesnt affect auto insurance.
Paying too much for homeowners insurance? Theseproperty insurance discountscould help lower your premium.
Instead flood insurance is mainly sold and backed by the federal government through FEMA.
Homeowners in Florida have seen similar premium spikes, too, following devastating storms in the last several years.
Some states and local governments are evensuing FEMAto block higher premiums.
If youre a homeowner in one of these states, what can you do?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
What Options Do Homeowners in High-Risk Areas Have?
Even if you have regular insurance, you may need an additional policy.
If youre struggling to find residential insurance in your area, you still have options.
TheCalifornia Department of Insuranceand other experts offer this advice.
Do everything you’re free to to protect whats likely to be your greatest asset.
Did you know?
He has written about personal finance for more than a decade.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
