Allstate, one of California’s biggest home insurers, could resume writing new homeowner policies if the department of insurance approves rule changes.
The company stopped writing new homeowner policies in late 2022 because of wildfire risk and the cost of rebuilding homes.
Lenny Higgins of Santa Rosa lost his home in Coffey Park in the
.
Higgins had been living there for 14 years when the wildfire destroyed his neighborhood.
“It wiped out Coffey Park. Everything was incinerated,” said Higgins.
MORE: State Farm not renewing 30K homeowners insurances in CA, including in high fire risk areas
Higgins rebuilt his home with help from insurance.
However, some homeowners and business owners in California have struggled to find coverage because companies have stopped writing new homeowner policies.
In March, state farm announced it would
not renew 72,000 property owner policies in California
.
Three insurers covering 40% of California homes have either paused new policies or set strict caps.