![]() Tubbs, Kincade, Nuns and Glass - Sonoma County is home to some of the worst wildfires in the state within the last six years. If Martin lasts another summer and fall without a fire insurance claim, the rancher said he may consider returning to a standard commercial property policy. He used to be pay half that under a standard policy, but after the Kincaid Fire of 2019 scorched his land and claimed a few “non-essential” structures, he was forced to sign on to the government-sanctioned plan. But what does that mean for the price? That’s the bottom line,” said Charlie Martin, who pays $35,000 a year for his $3 million FAIR Plan coverage on his 300-acre Chalk Hill Ranch in Healdsburg. “If they’re going to raise the limits, great. California and local farm bureaus lobbied hard for the FAIR plan increases, which will be finalized by the end of the year. While the North Coast encompassing Sonoma, Lake and Napa counties represents 8% of the state’s commercial agriculture and farm owners’ insurance market, claim losses from 2017 to 2020 add up to about 45% of the statewide total, according to the state insurance commissioner’s office.īut now, North Coast winery, vineyard and other farm operators who have endured a barrage of “fire years,” totaling $629 million in losses, may be able to breathe a little sigh of relief. “This is important to raise these limits. “It really was long overdue,” California Insurance Commissioner spokesman Michael Soller told the Business Journal. The first plan may go up to $23 million with liability. The state Department of Insurance announced the California FAIR Plan Association decided on March 29 to raise the limits for commercial property (Division I) and other business owners (Division II) from $7.2 million and $8.4 million, respectively, to $20 million per location. California wildfire losses topping $1 billion among wineries and agricultural operations since 2017 have sparked an up to $15 million increase in coverage limits for the state’s insurance program “of last resort” called the FAIR Plan.
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