CALIFORNIA | LOCAL
August 11, 1994
Hurray for Benjamin Zycher, a lonely voice telling it like it is again in his column "Misguided Policies--Then the Earthquake," Commentary, July 27. He is absolutely correct, tying earthquake coverage to homeowners insurance works only as long as homeowners is a profitable line of business and the earthquakes are small. However, there is much more to the availability problem in the homeowners line of business in California than just the Northridge earthquake. The California insurance industry has not made a profit in the homeowners line since 1989.
October 19, 2003
A recovering economy and healthier profits for property/casualty insurers are easing the tight market for homeowners insurance nationwide, but securing a policy is still a challenge for home buyers. A recent report card on the first half of 2003 by the Insurance Information Institute, a nonprofit group funded by insurers, shows a "remarkable turnaround" in the industry, with underwriting losses declining 95% from a record $52 billion in 2001 to just $4 billion to $6 billion this year.
January 1, 1988
The State of California Dept. of Insurance, Consumer Affairs Division recently released the results of its first "Comparative Premimum Survey On Homeowners Insurance," based on rates effective in July 1987. The statewide study was designed to show annual premiums for three rating examples: a typical 45-year-old home, a 25-year-old home and a newer home with higher value.
June 22, 1993
Homeowners and renters insurance prices have risen only slightly in the last year, Insurance Commissioner John Garamendi said in releasing the department's annual survey of the state's largest insurers. In Los Angeles and Orange counties, for example, the average price among the state's 10 largest insurers for a $150,000 homeowners policy on a frame house built in 1985 was $516, up $3 from a year earlier.
December 15, 1987 |
The first price survey of homeowners' insurance in California was released Monday by the state Insurance Department and, as with auto insurance, the lesson to consumers was clear: It pays to shop around. In homeowners' insurance, the price differences between ZIP codes and between companies within the same ZIP code tend to be less than in auto insurance.
May 5, 2002 |
A steep rise in dog-bite incidents--including the notorious San Francisco case in which a lacrosse coach was killed by her neighbor's dogs--has spurred homeowner insurers to reconsider how they cover canines. Mercury Casualty Co., citing higher claims costs for households with dogs, recently began offering a 10% discount on homeowners insurance for families that don't own a dog or are willing to take their dog off their homeowner policy.