From Yahoo Finance: 2025-06-07 12:31:00

A homebuyer in California was shocked to find out that insurance for their $720,000 property would cost between $14,000 and $17,000 per year, due to the state’s growing wildfire risk and insurance companies pulling out of the area. California’s Fair Access to Insurance Requirements Plan was the only option available. Regulators were criticized for blocking catastrophe models that would allow insurers to price risks accurately. Buyers are urged to exercise the insurance contingency clause in contracts. Other states like Florida, Louisiana, and Colorado are facing similar insurance premium spikes.

In California, rising insurance premiums due to wildfire risks and regulatory delays are causing issues for homebuyers, with quotes as high as $17,000 annually. The FAIR Plan, California’s insurer of last resort, doesn’t offer comprehensive coverage, leaving homeowners with gaps in their insurance. Buyers are urged to get insurance quotes early, ask sellers who they use, and avoid agents who downplay risks. Arrived allows individuals to invest in rental properties for as little as $100, offering monthly rental income and long-term appreciation without the hassles of being a landlord. 1. The stock market reached record highs today, with the Dow Jones Industrial Average closing at 30,000 for the first time in history.

2. Scientists have discovered a new species of dinosaur in Argentina, named Llukalkan aliocranianus. This carnivorous dinosaur had a unique skull structure and is believed to have lived during the Late Cretaceous period.

3. A new study has found that the COVID-19 vaccine developed by Pfizer and BioNTech is 95% effective in preventing the virus. This promising news comes as countries around the world continue to battle the pandemic.

4. In entertainment news, Taylor Swift has announced the surprise release of her ninth studio album, “Evermore.” The album features 15 new songs and collaborations with artists like Bon Iver and Haim.



Read more at Yahoo Finance: A Homebuyer In Escrow On A $720K House Just Discovered The Insurance Is ‘Astronomical.’ Realtor Claimed Earlier That It Wouldn’t Be An Issue