CA Insurance Regulator Announces New Incentives For Fireproofing Homes (Insurance Business)

CA Insurance Regulator Announces New Incentives For Fireproofing Homes

  Thursday, February 11th, 2021 Source: Insurance Business

To help prepare homeowners protect themselves from the risk of wildfires – and to lower insurance rates at the same time – California insurance commissioner Ricardo Lara announced that there would be new incentives for owners of older homes who choose to make their properties more fireproof.

The new ‘home hardening’ incentive is part of the new partnership between the California Department of Insurance and Governor Gavin Newsom.

The state insurance regulator, together with other government agencies, plans to improve home hardening by encouraging measures such as replacing single-pane windows to double-pane, and using fireproof wood treatments.

‘With home and community hardening standards in place, Californians can hope to save lives and property through safer homes and increase insurance availability at the same time,’ commissioner Lara said in a statement earlier this week. ‘

‘Our insurance market is responding to higher wildfire risk, so safeguarding homes will assist consumers in finding and keeping their insurance.’

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