California fair plan
Would like opinions on this matter please. Trying to buy a condo/townhome and my insurance broker is telling me that they’re no longer insuring condos/townhomes anymore? I was shocked. I asked how are people still buying? There’s something called wrapped insurance? Setting up your property to be on two policies, the California fair plan and a smaller less regulated insurance company. Has anyone heard of this? Is anyone on the CFP? Would like your feedback. I hear the CFP is terrible. I also found out that the CFP is not paid by California tax payers, it’s funded by the current insurance companies in California. There’s rumors that the CFP is in a bubble and can be distress if there is a major disaster and a wave of claims.