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Follow on Google News | Are California Insurance Tax Hikes Good for Uninsurable Homes?By: SmartFinancial The main risks that make many California homes uninsurable are wildfires, other types of severe weather patterns, the inflationary costs of rebuilding and higher reinsurance premiums for insurers. Homeowners in wildfire-prone areas have been forced to turn to the California FAIR Plan, a state-run insurance policy offering very little coverage. However, in late summer 2024, the California Department of Insurance finally allowed insurance companies to raise rates. The move will pinch consumers' wallets but is expected to stabilize an unwieldy insurance market in the state. Here's what you can expect if you're a home and car owner. How To Lower Home Insurance: California Homeowners Want To Know Always check the discounts the insurer offers and see which ones fit. You can easily save 25% or more on discounts alone. Here are some other ways to lower your monthly bill. Shop Around for Better Deals You can save money on homeowners insurance by comparing rates (https://smartfinancial.com/ End
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