August 28, 1992 |
National Colonial Insurance had the worst consumer complaint record among auto insurers and Farmers Insurance Exchange ranked worst among homeowner insurers in a survey released Thursday by the state Department of Insurance. United Services Automobile Assn. was rated best in both categories.
July 8, 1994 |
Amid fears that the near shutdown of the California homeowners insurance market will upset the economy, state officials, insurance executives and consumer advocates hashed out ideas for solutions at a meeting in San Francisco on Thursday, but they emerged without a concrete legislative proposal. "There was a very strong sense of urgency around the table," Richard Baum, top deputy to Insurance Commissioner John Garamendi, said of the three-hour session at Garamendi's headquarters.
July 1, 1994 |
Allstate Insurance Co., California's second-largest homeowners insurer, suspended the sale of new property and earthquake insurance Thursday, saying it "could not afford to be the only game in town" after other major carriers had pulled out of the market. The action reflects what Allstate chief counsel Robert Pike called "a grossly dysfunctional market, if not a market meltdown," arising from the Northridge earthquake.
July 15, 2007 |
High temperatures and drought conditions are combining to boost fire risks in much of the country, including Southern California. That makes it more important than ever to ensure that your fire insurance is adequate. Home values and construction costs have risen significantly in recent years, and that means homeowners who haven't updated their insurance policies could have grossly inadequate coverage. Others simply underestimate the cost of rebuilding.
April 24, 2005 |
Marsha Miller had just landed an attractive rate to refinance her small house in Torrance and was close to wrapping up the deal when the mortgage company made a perplexing demand. A representative told her she would need much more insurance on the 1,200-square-foot home. Rebuilding the place after a fire or some other disaster, the company warned, could cost as much as $490,000, the home's appraised value. The message was clear: Fail to buy more homeowners insurance, lose the $293,000 loan.
CALIFORNIA | LOCAL
January 19, 1994 |
The stucco skin of Joanne Foley's Woodland Hills home looked like the shell of a hard-boiled egg that had been tapped with a spoon. As Allstate Insurance claims adjuster Dale Weimer walked around the property at noontime Tuesday, Foley pointed out balky doors and a horizontal crack that bisected the first and second floors for more than half the circumference of the house. "The whole house is tweaked," Foley said. Weimer jotted notes and murmured reassurance.
June 8, 1990 |
The state Supreme Court on Thursday let stand a novel ruling allowing a homeowner's insurer to be held liable for damages obtained against a policyholder accused of infecting his girlfriend with genital herpes. In a brief order, the justices refused to hear a challenge by State Farm Fire & Casualty Co. to a decision issued last March by a state Court of Appeal in San Jose.
November 24, 2002 |
In 20 years of homeownership, Barbara Bratcher had never filed a homeowners insurance claim. So when she returned from a two-week vacation last spring to find that a pipe under her kitchen sink had dripped and soaked the floor, warping her kitchen cabinets, she reported it to her State Farm agent. "They came out and tore out the warped board, replaced a piece of wall behind my sink, dried up the puddle of water and sprayed for mold," Bratcher recalled.
March 14, 1991 |
Urging California residents to "shop around" before purchasing homeowner insurance policies, state Insurance Commissioner John Garamendi Wednesday released a statewide survey spotlighting dramatic price differences between identical policies offered by the state's 26 largest insurance companies. The survey also revealed major price differences between identical policies purchased in various communities and regions of California.
June 17, 1994 |
Farmers Insurance Group, California's third-largest home insurer, abruptly pulled the plug on homeowners and earthquake coverage Thursday, ordering its agents to immediately stop writing new business in California. The action, which Farmers described as temporary, raises fears of a chain reaction that could imperil the state's fragile economic recovery. At a minimum, it will worsen consumers' problems finding coverage after the devastating Northridge earthquake.