Another insurance company plans to raise rates in California

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By Yosi Yahoudai
Founder and Managing Partner

Travelers Insurance will hike its premiums by an average 15.3 percent for hundreds of thousands of homeowners in California.

The change is attributed to wildfire risk and will impact an estimated 320,000 policyholders.

The New York-based firm, which is the sixth largest insurer in California, plans to update rates for homeowners, with some seeing increases of more than 25 percent, according to reporting by the San Jose Mercury News, which cited filings with the state Department of Insurance.

The company has not released where in the state homeowners will see increases, though the policy changes could take effect as early as June 24.

On average, California homeowners currently pay $1,250 a year for coverage, according to

Traveler’s also plans to drop 6600 policies across the state with the most extreme wildfire risk.

Earlier this year, several major insurers pulled out of the California market, and State Farm, Farmers and Allstate limited their exposure in California by cutting back on the number of new policies issued. State Farm announced in March it would not renew 72,000 new policies.

In a statement to KTLA, a Traveler’s spokesperson said, “The approved adjustments to our California homeowners insurance rates are a necessary step toward aligning pricing to the risks that our customers are facing.”

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About the Author
Yosi Yahoudai is a founder and the managing partner of J&Y. His practice is comprised primarily of cases involving automobile and motorcycle accidents, but he also represents people in premises liability lawsuits, including suits alleging dangerous conditions of public property, third-party criminal conduct, and intentional torts. He also has expertise in cases involving product defects, dog bites, elder abuse, and sexual assault. He earned his Bachelor of Arts from the University of California and is admitted to practice in all California State Courts, and the United States District Court for the Southern District of California. If you have any questions about this article, you can contact Yosi by clicking here.