Realtors in California are reporting extra problem promoting houses due to the insurance coverage disaster, in accordance with a survey from the California Affiliation of Realtors.
The group surveyed its members and located 13% reported a house sale falling out of escrow as a result of a purchaser’s lack of ability to seek out insurance coverage, greater than double the determine (6.9%) in final yr’s survey.
Associated: Local weather Change and Rising US Insurance coverage Charges
Almost one-third (31%) of brokers surveyed stated their most up-to-date patrons had problem getting insurance coverage when attempting to buy a house, almost double 2003’s 16%.
And roughly one-in-five respondents stated their shoppers ended up shopping for insurance coverage from the FAIR Plan.
Associated: California Commissioner Strikes to Implement Charge Evaluate Reforms
Almost half (45%) of patrons advised their brokers insurance coverage was too costly, the survey exhibits.
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