California says home insurance premiums are too high and caps th

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Cape May Point - California says home insurance premiums are too high and caps them by law. Many insurance companies, knowing their state restricted policy premiums can't cover the numerous claims resulting from a serious wildfire, leave California rather than go bankrupt. Then, when a serious wildfire occurs and homeowners have no coverage, California blames the insurance companies for "abandoning" the state. Make sense? Or is this a classic case of California government meddling in the private sector?

Print Publication Date: 
1/22/2025
Topic: