A four-bedroom $25.6 million estate with a fire insurance quote of $200,000 a year.
Source: The AgencyBeverly Hills 90210 Mansions Lose Fire Coverage as Insurers Flee
State Farm is discontinuing fire insurance policies in wealthy California areas. It’s part of a nationwide trend fueled by climate change.
Peter Mac was closing the sale of a home in the Hollywood Hills, a four-bedroom, five-bath estate with an infinity pool perched above the lights of Los Angeles. The new house had been on the market for two years, with the price tumbling to $25.6 million from an original listing of $48 million.
But before the final sign-off in February, Mac presented the buyer with a fire insurance quote: $200,000 a year.