Another major insurance company plans to impose new restrictions on its homeowners business in California, potentially worsening the state’s growing insurance woes and making it more difficult for homeowners and buyers to cover their residences.
United Services Automobile Association -- more commonly known as USAA -- will sharply increase its wildfire safety demands for all new home policies, according to a little-noticed filing submitted to state regulator earlier this year.
While the exact impact of the change is unclear, the proposed rules represent a significant departure from the company’s previous wildfire standards.
As of 2022, USAA was the seventh-largest provider of homeowners insurance in California, according to the Insurance Information Institute, an industry group.