Insurance issues affecting home sales

As if mortgage rates and high listing prices weren’t enough, homebuyers – and sellers – are facing rapidly rising home insurance costs, if they’re able to get insurance at all.

Early in 2023 both Allstate and State Farm announced they wee no longer writing new homeowner’s policies, primarily due to wildfire risks throughout the state.

In some cases, buyers only alternative is the FAIR Plan which often features higher premiums and more limited coverage.

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