Colorado is implementing the FAIR Plan in 2025 to assist homeowners unable to secure insurance due to rising wildfire risks. Insurers are withdrawing from high-risk areas, leading to increased costs and policy cancellations. The FAIR Plan will provide coverage for those rejected by three insurers, with limits of $750,000 for homes and $5 million for commercial properties. State lawmakers are also exploring options to enhance affordability, including catastrophe bonds and grants for fire-resistant improvements.
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