Kim Lisa TaylorSecurities Attorney, Founder, Syndication Attorneys, PLLC · Corporate Securities Attorney, 2x Best-Selling Author, Nationwide Speaker | Private Placement

How to Navigate Rising Insurance Costs in California Real Estate

29 Jan 2025 · 1 min

Watch on YouTube

0:40

In this brief YouTube discussion, Speaker A asks about the difficulty of obtaining property insurance in Los Angeles amid rising costs and horror stories. Speaker B shares personal experience: their own insurance premium doubled over two years, from $65 to $120 per month, while noting that others have faced even larger spikes—up to tenfold—or have been unable to secure coverage at all, forcing them to rely on the California State Fair Plan, a state‑run insurer. The exchange highlights the variability of insurance cost increases, the scarcity of coverage, and the role of the state‑regulated plan as a fallback for California real‑estate owners.

Chapters

What about insurance? You know, I mean, we're all hearing the horror stories about the poor people that have been burned out in Los Angeles. Are you having trouble getting insurance on any of your properties?
With regards to my insurance here, there are some. So on my properties, no, they've— I've been mostly spared. I mean, my insurance costs doubled at my property in the last 2 years, but it went from $65 a month to $120 a month. Now I know other people are having other experiences where it's 10x or it doubling or tripling, or in some cases they haven't been able to find insurance. And so they're having to go through the California State Fair Plan, which is a state-regulated insurance company.