{"id":135,"date":"2025-02-04T10:00:00","date_gmt":"2025-02-04T10:00:00","guid":{"rendered":"https:\/\/www.markmallorca.com\/blog\/?p=135"},"modified":"2025-02-04T10:00:00","modified_gmt":"2025-02-04T10:00:00","slug":"california-homeowners-could-be-on-the-hook-for-1000-or-higher-surcharge-if-fair-plan-runs-dry","status":"publish","type":"post","link":"https:\/\/www.markmallorca.com\/blog\/2025\/02\/california-homeowners-could-be-on-the-hook-for-1000-or-higher-surcharge-if-fair-plan-runs-dry\/","title":{"rendered":"California homeowners could be on the hook for $1,000 or higher surcharge if FAIR Plan runs dry"},"content":{"rendered":"<div class=\"roomvu-news-container\">\n<p>Fire insurance costs in California have surged, prompting homeowners to rely on the FAIR Plan, a government-backed insurer. Concerns about FAIR&#039;s financial stability have grown, with estimates suggesting potential surcharges of $1,000 to $3,700 for policyholders due to significant wildfire damages. FAIR currently has around $200 million in cash and $2.5 billion in reinsurance, but its exposure is high, particularly in areas like Pacific Palisades. Additionally, premiums may rise by 40% to 50% due to new regulations allowing reinsurance costs to be passed to customers.<\/p>\n<p>\t<a class=\"roomvu-news-continue\" href=\"https:\/\/fortune.com\/2025\/01\/13\/california-homeowners-surcharge-fair-plan\/\"><\/p>\n<div>Continue to full article<\/div>\n<p>\t<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Fire insurance costs in California have surged, prompting homeowners to rely on the FAIR Plan, a government-backed insurer. Concerns about FAIR&#039;s financial stability have grown, with estimates suggesting potential surcharges of $1,000 to $3,700 for policyholders due to significant wildfire damages. FAIR currently has around $200 million in cash and $2.5 billion in reinsurance, but [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-135","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/comments?post=135"}],"version-history":[{"count":1,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/135\/revisions"}],"predecessor-version":[{"id":137,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/posts\/135\/revisions\/137"}],"wp:attachment":[{"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/media?parent=135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/categories?post=135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.markmallorca.com\/blog\/wp-json\/wp\/v2\/tags?post=135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}