Drought causes spike in insurance rates
The Truckee River near Tahoe City should have enough water for rafts to be floating on it. Photo/Kathryn Reed
By Michael Bott and Thom Jensen, KXTV
Curb appeal, crime rate and a quality education. Those are the factors most people weigh when buying a home. But, a new investigation found that equation was now influenced by the drought and longer, more intense fire seasons.
Homeowners insurance, once a budget afterthought, was now top of mind for some people.
Residents in a small Placer County community said their premiums are “burning out of control,” and insurance companies are canceling other policies altogether. They lived on the outskirts of Colfax in a heavily wooded subdivision named Alpine Meadows.