California Fair Plan Home Insurance : House Plans

California Fair Plan Home Insurance

The California Fair Plan (CFP) is a state-created insurance pool that provides basic property insurance to homeowners and businesses who cannot obtain coverage in the voluntary market. The CFP was established in 1968 in response to the 1965 Watts riots, which left many homeowners in South Central Los Angeles unable to obtain insurance due to high crime rates and civil unrest. The CFP is a not-for-profit organization that is governed by a board of directors appointed by the California Insurance Commissioner. The CFP is funded by assessments on insurance companies that write property insurance in California.

The CFP offers a variety of coverage options, including:

Fire and theft insurance

Liability insurance

Dwelling insurance

Business income insurance

Renters insurance

The CFP's rates are higher than those charged by private insurance companies, but they are still affordable for many homeowners and businesses. The CFP also offers a variety of discounts, such as:

Discounts for homeowners who have installed security systems

Discounts for businesses that have implemented crime prevention measures

Discounts for low-income homeowners

The CFP also offers a variety of programs to help homeowners and businesses reduce their risk of loss, such as:

A home hardening program that provides grants to homeowners to install security features

A wildfire mitigation program that provides grants to homeowners to clear brush and other vegetation around their homes

A business crime prevention program that provides grants to businesses to implement crime prevention measures

The CFP is a valuable resource for homeowners and businesses who cannot obtain coverage in the voluntary market. The CFP offers a variety of affordable coverage options and programs to help reduce the risk of loss.

Here are some additional benefits of the CFP:

Peace of mind: Knowing that you have insurance coverage can give you peace of mind. The CFP can provide you with the peace of mind that comes with knowing that your home or business is protected in the event of a loss.

Financial protection: In the event of a loss, insurance can help you to cover the costs of repairs or replacement. The CFP can provide you with the financial protection you need to get back on your feet after a loss.

Discounts: The CFP offers a variety of discounts that can help you save money on your insurance premiums. Discounts are available for homeowners who have installed security systems, businesses that have implemented crime prevention measures, and low-income homeowners.

Programs to reduce risk: The CFP offers a variety of programs to help homeowners and businesses reduce their risk of loss. These programs can help you to make your home or business more secure and to reduce the likelihood of a loss.

If you are a homeowner or business owner in California who cannot obtain coverage in the voluntary market, the CFP may be a good option for you. The CFP offers a variety of affordable coverage options and programs to help reduce the risk of loss. To learn more about the CFP, visit their website at www.cfpnet.com.