Tales abound of property insurance fire policies being canceled, premiums increasing, and insurance companies requiring property improvements and hardening.
This month’s question is: How have changes in fire insurance affected you?
I think we’re on the chopping block. I’ve had an Allstate policy for 22 years; they just tried to cancel it. I’ve never made one claim. It was funny, the adjuster said they’re trying to reduce their exposure, and I laughed and said, ‘Well, they’re an insurance company, I pay for them to take care of my exposure.’ Allstate made me do a big defensible space clearing, which I’m a big fan of, but if our neighborhood is gonna burn down, it doesn’t matter what I do with my lot.
Our insurance has gone up considerably, and we are, at times, concerned about the future of financial protection.
I’m very mindful of changes in my insurance. It’s only been incremental for me so far. Some of my friends have been canceled by their fire insurance. I’m also working hard on defensible space, and the fire department in Truckee is very much monitoring that.
It made me buy a house in Maine because I couldn’t get fire insurance in Tahoe.
We’re very mindful of our defensible space and we make sure to rake our pine needles and take down trees in our yard that are concerning to us. Luckily, our neighborhood has become very fire-wise; they created a whole group about it and so I watch the posts on Facebook about any kind of new information coming out.