Insurance companies like State Farm and Allstate have halted new home-insurance policies in California due to rising wildfire risks, with the state experiencing eight of the ten costliest wildfires in the U.S. Insurers are now using advanced wildfire mapping tools to assess risks, leading to increased premiums and coverage cancellations for homeowners. In Utah, while some carriers are still offering coverage, the market is tightening. Homeowners are advised to manage defensible space around their properties to mitigate wildfire risks.
Continue to full article