Nearly 2.4 home insurance policyholders in California now fall under a one-year moratorium against non-renewal of residential property insurance coverage in the wake of historic wildfires in 2020.
On Dec. 31, 2020, California Insurance Commissioner Ricardo Lara put another six ZIP codes under the moratorium, bringing to 563 the number of ZIP codes now protected from non-renewal of residential property insurance policies. This means homeowners won’t lose their home insurance when their policies come up for renewal.
California has more than 2,600 ZIP codes, meaning the moratorium covers about one-fifth of the state’s ZIP codes.
Continue Reading on Daily Journal Online