to the editor: Except for a brief period of two years, our family has been insured by the FAIR Plan for the 30 years we have owned our home in Altadena (“Even low-risk homes are caught up in California's climate-induced insurance crisis,” March 18). In addition to the fire insurance provided by the FAIR Plan, we also had to take out a “wrap policy” to cover wind and water damage, as well as theft and liability.
The statement by Mark Sektnan of the American Property Casualty Insurance Association that “you cannot depopulate the FAIR Plan if it is competitively priced or if it is below market price” represents a fundamental misunderstanding of this reality. We are both in the public market for our fire insurance and in the private market for the rest of our coverages. During those almost 30 years, our combined insurance premiums went from about $1,000 to almost $6,000 a year.
Our house burned in the Eaton Fire and we are rebuilding it, but I shudder to imagine what our insurance premiums will be in a couple of years. If we fire-proof our new house, we should be guaranteed insurance at a reasonable cost. Even better if the State could provide a comprehensive policy that covers all risks. And by the way, our private insurer for the “wrap policy” paid us nothing for our fire loss.
Nancy Steele, Altadena
