Santa Cruz Sentenial | December 18, 2023
Cost, availability of insurance the latest threat to local pocketbooks
With spiraling housing costs, hikes in PG&E monthly bills, higher taxes, and inflationary food costs, as beautiful as it is here, it’s a wonder more people aren’t fleeing here for more affordable climes.
Insurance is another in the list of cost-of-living outrages.
Auto insurance policies are getting harder to find and more expensive in California – a trend that, like homeowners’ insurance, blamed by insurers on the state’s regulations.
While the regulations in the past have saved many millions of dollars for consumers, insurers wanting to raise rates during inflationary times have also had to live within the confines of Proposition 103, the voter-approved state law that requires hearings for any insurance rate increases that go above 7% if even one state resident challenges the request.[…]