Cal FAIR plan’s increase could raise your insurance by nearly 50%

Cal FAIR plan’s increase could raise your insurance by nearly 50%

LAKE TAHOE, Calif./Nev. – Cal FAIR, the last-resort insurance program for fire coverage, is looking for a rate hike averaging a little below 36% from the state insurance department. This rate hike would result in an increase for Tahoe and Truckee policyholders, as much as 50% in some areas–which some would argue is anything but fair. The FAIR Plan is a state-created and privately-run insurance pool that is required to offer coverage to those who…