Finding Insurance in Tahoe & Truckee During California's Crisis
How We Got Here
California’s insurance crisis has been building for years. The devastating 2018 Camp Fire resulted in billions in losses, leading insurers to scale back coverage in wildfire-prone areas. In 2023, major providers like State Farm and Allstate stopped issuing new policies in California, citing inflation and increased wildfire risks. As a result, homeowners face skyrocketing premiums and limited coverage options.
What This Means for Tahoe & Truckee Homeowners
If you own a home in this wildland fire zone, expect non-renewals and dramatic rate increases—some as high as 1000% for California’s last-resort FAIR Plan, which only covers up to $3M. Homebuyers are also seeing costs surge. A recent transaction I handled saw a Fair Plan quote at $8K annually—more than double previous rates. Another home purchase saw a 300% jump from the current owner’s premium.
How to Protect Yourself
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Get an insurance quote before making an offer. Policies and pricing change monthly.
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Work with an expert. I stay updated on the latest shifts in fire insurance, including HO-6 condo policies.
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Make sure you have adequate coverage as well. I have several brokers that I trust—reach out.
Navigating this market requires the right guidance. Whether you're buying or selling in Tahoe and Truckee, I can help you stay ahead of these changes. Contact me today for recommendations on who to call and to strategize your luxury real estate investment.
