![]() ![]() The first home is on Branciforte Drive and has a FireLine score of 10. To illustrate the difference in costs between the FAIR Plan and other providers, Tedsen describes two different homes in unincorporated Santa Cruz County that were purchased last year. “And as for the rates, they’re pretty much whatever the FAIR Plan says it is, that’s what it’s going to be.” “We’re at a point where the FAIR Plan is essentially the only option for a lot of these homes and there’s no competition,” Tedsen said. That might make the cost of FAIR plans unfeasible for lower-income households whose properties no longer qualify for private insurance. While the plan was created to provide a last-resort option for homeowners, the difference in premiums between a private insurance policy and a FAIR Plan policy can be dramatic. Insurers take on losses and receive profits from the plan. It is run by an association made up of all private insurers who write property and casualty business policies in California. The FAIR plan was established by the state in 1968. Many of those mountain buyers or homeowners who are dropped by their insurance company will now likely have to turn to the California Fair Access to Insurance Requirements (FAIR) Plan, which provides insurance to homeowners who can’t find coverage because of fire risk through the traditional market. So it’s definitely still reasonable in town.”īut it’s a different story in the areas where homes are surrounded by trees, most often in the mountains. It was just under $2,000 a year for this policy. “There was no fire risk at all, so we were able to write it through Farmers. “I just wrote a policy last week for a family down in Aptos,” he said. Some buyers who were closing on a home had to scramble to line up a new insurance provider ahead of their closing date.įor those who live in built-up areas of the county, not much has changed, Tedsen said. “It definitely caused a lot of chaos over the last few weeks,” he said. Tanner Tedsen, a Soquel insurance agent with Farmers Insurance, said calls came rushing into his office after the news that State Farm was pulling out of California. “We’ve been very proactive in finding and letting people know that we already have quotes. “It hasn’t been stopping our sales,” said Madani. Properties are still receiving multiple offers and the number of homes for sale has remained low. Jennifer Watson, president of the Santa Cruz County Association of Realtors, and realtor Jayson Madani say, so far, home sales haven’t been affected by the change. Allstate stopped writing new policies in California last fall. Current customers won’t lose their insurance and the company is continuing to write auto insurance policies. State Farm’s May 27 decision affects only new policies. State Farm became the latest insurance company to pull out of writing new policies in California last month over what it said were “historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.” The insurance company is the largest provider in the state. For many, an insurance program that offers limited fire insurance to homeowners may become their only option. Submit your letters online at for those in high fire-risk areas, such as the San Lorenzo Valley, homeowners can expect to pay higher premiums as they pick from a much smaller pool of insurance companies. Occasionally, we reject letters simply because we’ve had so many on the same subject. We don’t publish those details in the newspaper, but need the information for verification purposes. Letter-writers should include their full name as well as a street address and telephone number. Letters should be short, no more than 175 words. The Sentinel welcomes your letters to the editor. Please participate in the Name Selection Survey at. If you’ve been reading about this, you’ll know that the committee has narrowed it’s recommendation to five names: Aptos College, Costa Vista College, Seacliff College, Santa Cruz Coast College, and Cajastaca College. In all the discussion on this topic in the Sentinel, I have not yet seen the link to the actual survey where community members can select their preference ![]() Now is our opportunity to weigh in on the new name for Cabrillo College. Regardless of how each of us feels about changing the name, it is going to happen. ![]()
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