Bay Area homeowners who live in areas vulnerable to wildfires may have an even harder time to buy fire insurance. This comes after Famers Insurance announced it's limiting new homeowners policies in the state.
"About two years ago, doubled. I think it went from about three to six," said Suki Dennis, an Oakland Hills homeowner.
"Last October, they said we're not renewing," said Dennis. "It's crazy. I don't even have any big trees around me." "It's a complete lie. We went back and looked. For the last 30 years, insurance companies in California have made four times the profit that they made nationally on the average for selling homeowners coverage," said Harvey Rosenfield, founder of Consumer Watchdog.
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