Travelers will increase homeowners insurance availability in California as part of the state's Sustainable Insurance Strategy.
Travelers notified the California Department of Insurance about its plans to participate in the strategy, which aims to increase home insurance options in the state by allowing carriers to factor forward-looking wildfire catastrophe models and reinsurance costs into rates in exchange for writing a percentage of coverage in high-risk communities.
"California homeowners want access to reliable, fairly priced coverage and service from financially strong insurers they can count on," said Michael Klein, executive vice president and president of personal insurance at Travelers, in a statement. "Offering risk-based pricing for coverage facilitates a fair, competitive and healthy market for all participants. It will also allow us to responsibly operate throughout the state while supporting our ability to meet our obligations and fulfill our promise to customers."
Travelers is also increasing discounts for homeowners who take wildfire mitigation steps. Installing ember-resistant vents, upgrading roofing and clearing defensible space will improve eligibility and pricing for homeowners, the company said.
Travelers joins several other insurers who have announced plans to expand coverage in California under the Sustainable Insurance Strategy. Mercury Insurance, Farmers Insurance and USAA have all pledged to increase availability in recent months.
California homeowners have struggled in recent years as major carriers have pulled out of the state or reduced their footprint. Homeowners in wildfire-prone areas have had to opt for coverage through the FAIR Plan, the state's insurer of last resort, increasing the plan's exposure to $750 billion as of the beginning of 2026.
Photo credit: Ryland West/ALM
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.