What is California Fair Plan Property Insurance? |
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A program called the California Fair Access to Insurance Requirements (FAIR) Plan provides property insurance to those who are unable to get coverage in the traditional insurance market, sometimes because they reside in high-risk areas for natural disasters. As a last resort, it guarantees that property owners can still obtain the most basic insurance coverage. Although it offers necessary protection, it can be more expensive and may not offer as much coverage as regular policies. If private insurers have rejected a homeowner's application or they are unable to locate cheap coverage elsewhere, they may apply for this coverage.
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