{"id":13513,"date":"2024-04-28T17:58:08","date_gmt":"2024-04-28T17:58:08","guid":{"rendered":"https:\/\/lonecandle.com\/?p=13513"},"modified":"2024-04-28T17:58:08","modified_gmt":"2024-04-28T17:58:08","slug":"california-wont-let-homeowners-insurance-companies-raise-rates-so-theyre-leaving-the-state-instead","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=13513","title":{"rendered":"California Won&#8217;t Let Homeowners Insurance Companies Raise Rates, so They&#8217;re Leaving the State Instead"},"content":{"rendered":"\n<p>&#8220;The state&#8217;s leaders are acting like this is some unexpected perfect storm, but it&#8217;s one that&#8217;s been on the horizon for several years. &#8220;California&#8217;s one-two punch\u2014forcing companies to write risky policies while also limiting their ability to charge market rates\u2014would leave insurers with little choice but stop writing new policies,&#8221; I&nbsp;<a href=\"https:\/\/spectator.org\/california-insurance-wildfires-ab-1522\/\" target=\"_blank\" rel=\"noreferrer noopener\">wrote<\/a>&nbsp;in 2021. Last March, I warned insurance companies are&nbsp;<a href=\"https:\/\/www.wsj.com\/articles\/insurance-companies-are-quietly-fleeing-california-proposition-103-natural-disaster-state-farm-market-competition-ricardo-lara-commissioner-db0af00\" target=\"_blank\" rel=\"noreferrer noopener\">&#8220;quietly fleeing&#8221;<\/a>&nbsp;the state. Two months later, they stopped being quiet about it. In May, State Farm announced its freeze on writing new homeowner policies.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-reason-com wp-block-embed-reason-com\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"Wd91hwNnlc\"><a href=\"https:\/\/reason.com\/2024\/03\/29\/california-wont-let-homeowners-insurance-companies-raise-rates-so-theyre-leaving-the-state-instead\/\">California Won&#8217;t Let Homeowners Insurance Companies Raise Rates, so They&#8217;re Leaving the State Instead<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;California Won&#039;t Let Homeowners Insurance Companies Raise Rates, so They&#039;re Leaving the State Instead&#8221; &#8212; Reason.com\" src=\"https:\/\/reason.com\/2024\/03\/29\/california-wont-let-homeowners-insurance-companies-raise-rates-so-theyre-leaving-the-state-instead\/embed\/#?secret=o7d3p7L2Fa#?secret=Wd91hwNnlc\" data-secret=\"Wd91hwNnlc\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The state&#8217;s leaders are acting like this is some unexpected perfect storm, but it&#8217;s one that&#8217;s been on the horizon for several years. &#8220;California&#8217;s one-two punch\u2014forcing companies to write risky policies while also limiting their ability to charge market rates\u2014would leave insurers with little choice but stop writing new policies,&#8221; I wrote in 2021. Last March, I warned insurance companies are &#8220;quietly fleeing&#8221; the state. Two months later, they stopped being quiet about it. In May, State Farm announced its freeze on writing new homeowner policies.&#8221;<\/p>\n<p>https:\/\/reason.com\/2024\/03\/29\/california-wont-let-homeowners-insurance-companies-raise-rates-so-theyre-leaving-the-state-instead\/<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[304,22,236,551],"class_list":["post-13513","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-california","tag-insurance","tag-regulation","tag-regulations"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/13513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13513"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/13513\/revisions"}],"predecessor-version":[{"id":13514,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/13513\/revisions\/13514"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}