Insurance Rates Are on a Rise in Placer County

wildfire

It has been observed that people across Placer County are finding it very hard to insure their homes as the Insurance rates have surged mainly due to the wildfires.

The insurance rates have increased by thousands of dollars as reported by the Placer County residents who live in areas at the risk of wildfire. The residents and supervisors have urged the state to take necessary measures to stop private companies from charging high prices.

One of the residents Pat Albright lost her husband and home insurance she had more than 40 years, at the same time.

Last year Pat Albright lost her husband and the home insurance she had more 40 years, at the same time.

She said she was shocked that the insurance company was not going to renew after all those years.

Pat Albright was forced to look elsewhere and found insurance add-ons through another company. She further received a notice telling her that next month her rate will increase by more than $2,000 a year.

She further added “What irritates me is it’s not our fault. It’s PG&E, they’re causing the fires and now were getting punished for it,”.

Albright is handicapped and on a fixed income. She said she could lose the care worker she hired for help.

“I would have to cut her hours and if not get rid of her because I couldn’t afford to pay both,” she said.

Albright is not alone. Placer County supervisors are collecting data on rate increases from people all over the county. They told CBS13 one homeowner near Auburn saw their rate nearly triple, from $1,739 to $4,400 a year.

“We don’t have any authority to control that but we have a voice,” said Placer County Supervisor Jim Holmes.

CBS13 took these concerns straight to the Department of Insurance, asking them if they could do anything to change this problem or pressure insurance companies to lower rates.

“If an insurer can prove their rate increase is warranted, we’re obliged to approve,” said Joel Laucher, senior advisor with the California Department of Insurance.

Placer County supervisors think insurance companies should be required to give more consideration to fire mitigation efforts.

“Some homeowners have done everything they need to do. they have defensible space, they’ve taken trees down they don’t have any limbs over their home,” Holmes said.

Albright hires people to clear her yard in hopes of getting a better insurance rate. But the uncertainty remains.

“I know the insurances want their profits and that’s basically what its all about,” she said.

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