Insurance Hour

"There's a Real Crunch": Why California's Home Insurance Market Is Breaking Down California's homeowners are running into a crisis that's no longer limited to wildfire zones or rural areas — it's spreading everywhere. In a revealing ABC 10 News report by Austin Grabish , insurance experts and property owners described what's being called a "real crunch" in the state's insurance market: shrinking a...

California's Insurance Crossroads: Why Premiums Are Rising and What Drivers Can Do About It From homeowners losing coverage to motorists facing soaring auto insurance bills, California's insurance landscape is shifting faster than many residents can keep up with. In a recent segment on CBS KCAL's On Your Side , reporter Christine Lazar sat down with independent insurance agent Karl Susman to discu...

New Year, New Rules: How 2024 Insurance Reforms Are Changing the Game for California Homeowners California homeowners have spent the past few years navigating one of the most turbulent insurance markets in the nation. Between record-setting wildfires, insurer withdrawals, and rising premiums, many consumers have felt trapped between financial strain and limited options. But 2024 brings a glimmer o...

California's Catastrophe Insurance Overhaul: Can New Regulations Save the State's Failing Homeowners Market? California's insurance market has reached a critical turning point. In a state defined by its beauty and its volatility—where wildfires, earthquakes, and floods have become part of the yearly rhythm—the home insurance system is showing signs of collapse. As major insurers like State Farm an...

California's Home Insurance Crisis: What Homeowners Need to Know About the Fair Plan, Court Rulings, and the Search for Coverage Buying a home in California has always been difficult—but keeping it insured has become a whole new challenge. In recent years, thousands of homeowners across the state have opened their renewal notices only to find devastating news: their insurer is pulling out, non-ren...

Understanding Auto Insurance Claims in California's Hard Market: When (and When Not) to File When someone breaks into your car or damages it, your first instinct might be to call your insurance company right away. After all, that's what insurance is for — right? But in today's volatile insurance market, that decision isn't always so simple. In a recent segment from ABC 10 Sacramento , an insurance...

Liberty Mutual Pulls Business Owner Policies in California: What It Means for Small Businesses California's insurance crisis is no longer confined to homeowners. In yet another sign of deepening market strain, Liberty Mutual announced that it will stop offering its Business Owner's Policy (BOP) — a bundled commercial insurance product that covers small businesses — across the state this fall. The...

California's Home Insurance Crossroads: Inside Commissioner Lara's "Sustainable Insurance Strategy" California's homeowners insurance crisis has entered a defining moment — one that could determine whether the state's property market stabilizes or continues to spiral. As ABC 10 Sacramento 's Becca Habiger reported in a comprehensive interview with Insurance Commissioner Ricardo Lara , the state is...

California Approves 20% Rate Hike for State Farm Home Insurance: What It Means for Homeowners California's homeowners insurance crisis just entered a new phase. In early 2024, State Farm , the state's largest property insurer, was granted permission to raise its homeowners insurance rates by an average of 20% — the first major increase since the company paused new policies in 2023. The decision, a...

California's Auto Insurance Squeeze: Why Rates Are Rising — and What Comes Next Californians are feeling it everywhere — at the grocery store, at the gas pump, and now in their car insurance bills. According to a CBS–KCAL On Your Side investigation, auto insurance rates in California have surged by as much as 20% , with more increases likely on the way. For Los Angeles drivers, that means the aver...

Why Major Auto Insurers Are Leaving California — And What It Means for Drivers California's car insurance market — once one of the most competitive in the nation — is showing serious cracks. Over the past year, several major auto insurers have scaled back or withdrawn from the state , citing unmanageable costs, regulatory gridlock, and higher claim expenses. From Los Angeles to Sacramento, drivers...

Navigating the Insurance Claims Maze: Legal Insights from Karl Susman and Attorney Dennis Beaver When disaster strikes—whether it's a car accident, property loss, or a life insurance dispute—many policyholders are left wondering: When do I need a lawyer? Should I call my agent, my insurer, or head straight to court? In a recent episode of Insurance Hour with Karl Susman, special guest and attorney...

Unraveling the Mysteries of Life Insurance: What You Need to Know When most people hear the phrase life insurance , they think of one thing—death. It's not the easiest topic to talk about, and that's part of why so many people misunderstand what life insurance actually does, how it works, and who it's really for. In a recent episode of Insurance Hour , host Karl Susman took listeners on a deep div...

🏠 Decoding Homeowners Insurance: Understanding What's Really in Your Policy When it comes to protecting your home, few documents are as important — or as misunderstood — as your homeowners insurance declaration page . For many Californians navigating an increasingly volatile insurance market, understanding what's actually covered (and what's not) can make the difference between peace of mind and...

Insurance Policies Are Not Savings Accounts: Understanding What You're Really Paying For One of the most common misconceptions about insurance—whether home, auto, or life—is that it's a kind of savings plan. You pay into it, year after year, and somewhere in the back of your mind, you expect to get something back. After all, that's how bank accounts, investments, and retirement funds work, right?...

Unpacking Auto Insurance Essentials: What's Really in Your Policy (and Why It Matters) Most of us don't think much about our auto insurance until something goes wrong—a fender bender, a stolen car, or that moment when the repair estimate makes your jaw drop. Suddenly, that piece of paper (or PDF) from your insurance company becomes the most important document in your life. Yet few people actually...

Depopulating California's FAIR Plan: What Are They Thinking? California's insurance landscape is in crisis — and at the center of it all lies the California FAIR Plan , the state's insurer of last resort. In his Insurance Hour episode, "Depopulating California's FAIR Plan — What Are They Thinking?", insurance expert Karl Susman walks listeners through the complex web of regulatory reform, market d...

Decoding Insurance: From Car Policies to Health Challenges By Karl Susman — The Insurance Hour Insurance can feel like its own language — full of jargon, numbers, and fine print. But behind the complexity lies a simple truth: insurance is a tool for financial protection, not confusion. In a recent episode of The Insurance Hour , host Karl Susman took on some of the most common (and misunderstood)...

Navigating the Insurance Landscape: Why California's Insurance Market Is Changing — and What Consumers Need to Know The California insurance market is undergoing an upheaval unlike anything seen in decades. Rising premiums, stricter underwriting, fewer carrier options, and growing confusion have left homeowners and drivers alike wondering: What on earth is going on? In a recent episode of The Insu...

California's Sustainable Insurance Strategy: A Blueprint to Rebuild a Broken Market California's insurance market is in crisis. From wildfire-exposed homeowners unable to find coverage to major carriers pausing new policies, the Golden State has spent the last several years grappling with an insurance ecosystem on the verge of collapse. Yet amid this turmoil, a new path forward is taking shape — o...

Navigating Change in California's Insurance Market: Why Transition Is Painful—but Necessary The California insurance market is undergoing one of the most profound transformations in its history. Homeowners and consumers are facing record premiums, fewer carrier options, and an avalanche of regulatory changes—all unfolding against the backdrop of climate change, inflation, and mounting catastrophe...

Can Homeowners in Paradise, California, Afford to Rebuild? When Risk, Emotion, and Economics Collide in the Insurance Market In the wake of California's devastating wildfires, few names evoke more heartbreak than Paradise . Once a serene foothill community, Paradise was nearly erased by the 2018 Camp Fire , one of the deadliest wildfires in U.S. history. Forty-two people lost their lives, thousand...

Can California Fix Its Insurance Crisis? Charting a Path Through Climate, Risk, and Regulation California is known for its breathtaking landscapes, cultural diversity, and global economic influence — but also, increasingly, for its growing insurance crisis. As climate-driven disasters intensify and insurers flee the state, homeowners and businesses find themselves trapped in an unstable marketplac...

Understanding How to Buy Insurance: Choosing Between Direct, Captive, and Independent Options Buying insurance can feel deceptively simple — until you realize just how many ways there are to do it. From online forms to local agents and independent brokers, the choices can be confusing. Each option comes with its own pros and cons, and making the wrong choice could mean overpaying, being underinsur...

Why Homeowners Replacement Costs Are Soaring — and What It Means for Your Insurance Coverage California homeowners have always faced challenges when it comes to protecting their properties, but over the past few years, something dramatic has changed: the cost to rebuild or replace a home has skyrocketed . In a recent episode of Insurance Hour , host Karl Susman sat down with architect Tony Lewis ,...