Business News
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- Written by: Elizabeth Larson
From wildfires to earthquakes and floods, the Golden State's diverse challenges demand proactive preparation.
The California Department of Insurance is empowering individuals and organizations with the tools they need to safeguard their assets and livelihoods, promoting resilience and securing affordable insurance options.
"We are using every resource at our disposal to shield Californians from disaster risks,” declared Commissioner Lara. "By enhancing the safety of homes and businesses, we can save lives, mitigate losses, and help make insurance more available and affordable for all.”
As the state grapples with persistently high temperatures this summer, the risk of wildfires remains a pressing concern. Commissioner Lara's first-in-the-nation Safer from Wildfires regulations offer a multi-tiered strategy for bolstering wildfire resilience.
The initiative comprises 10 comprehensive actions distributed across three layers of protection: structural measures, immediate vicinity safeguards, and community-wide strategies.
Here are three high-impact, cost-effective steps that can be taken immediately:
• Keep embers out: Installing 1/16 to 1/8 inch noncombustible, corrosion-resistant metal mesh screens over attic vents can keep wind-blown embers out of your house.
• Clear the first 5 feet: Removing greenery and replacing wood chips with stone or decomposed granite 5 feet around your home prevents fire from getting a foot in the door.
• Be safer together: With Firewise USA, communities as small as 8 dwelling units or as big as 2,500 can create an action plan and start being safer together. Firewise USA is a nationally recognized program with proven results, sponsored by the National Fire Prevention Association.
The more you do, the more you can protect and possibly save on insurance coverage. The Department is continuing its review of insurance company discounts to make them available as soon as possible – and recently approved insurance discounts for the FAIR Plan. If you are a FAIR Plan policyholder, contact your agent or broker to learn how to qualify for Safer from Wildfires.
These proactive measures not only enhance protection but may also lead to substantial insurance coverage savings.
The Department is also actively expediting the availability of insurance company discounts and has recently granted insurance discounts for FAIR Plan policyholders. If you're a FAIR Plan policyholder, connect with your agent or broker to learn how to qualify for the Safer from Wildfires initiative.
Earthquake readiness is another pivotal aspect of Californians' preparedness. Traditional insurance policies seldom cover earthquake damages, and recent data analysis by the Department of Insurance reveals that nearly 90 percent of homeowners and renters lack earthquake insurance.
It's vital to assess the necessity of earthquake coverage, particularly for those residing in seismic zones. Individuals with older, multi-story homes, or dwellings on soft soil or slopes may be particularly vulnerable to earthquake damage.
They should consider purchasing a separate earthquake insurance policy, and/or a seismic retrofit of their home.
Floods pose another potential catastrophe often overlooked in traditional policies. Many remain unaware that flood insurance usually requires a 30-day waiting period before becoming effective. While the Federal Flood Insurance Program primarily offers coverage in the state, private flood insurance alternatives are also available.
Commissioner Lara underscores the significance of scrutinizing existing coverage to comprehend what perils are included or excluded in the event of rainstorm-related damages beyond rising water flooding.
No matter what the disaster there are steps all Californians can take to be prepared. Here are a few:
• Use your smartphone to perform a home inventory to create a record of your belongings and store scans of important documents that you can easily access.
• Locate your insurance papers and put them in a safe place or upload to an online location.
• Create a plan with your family to evacuate your home should a disaster strike and put together an emergency supply kit.
"The California Department of Insurance is an unwavering advocate and steadfast protector of consumers. We stand as experts in insurance and consumer protection, committed to ensuring every Californian's peace of mind in the face of uncertainty,” added Commissioner Lara. “Together, we can fortify our state against adversity and build safer communities."
The Department has additional resources to prepare for disasters and review insurance coverage on its website.
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- Written by: Elizabeth Larson
After taking into account the costs associated with fuel, maintenance, insurance and depreciation, the average yearly expense of a new car is $12,182 per year, or $1,015 per month.
That's a 12% jump over 2022 where costs were $10,728 per year or $894 per month.
In California, that cost rises to $14,390 per year.
“Vehicle ownership expenses vary depending on the vehicle’s make, model, and where you live,” explained John Treanor, spokesperson for AAA Northern California. “Understanding the long-term financial commitment associated with buying a new car is essential.”
Car prices rose dramatically due to global supply chain issues and limited inventory. The annual costs of owning a new vehicle were also be affected by:
Depreciation, which is the difference between the value of a car when it is purchased and its value when it is sold. YDC projects new cars will depreciate in value more quickly than before, at an average of $4,538 per year.
A jump in new vehicle prices (up almost $1,600) compared to used vehicle values that have declined in the last year.
More oversized, luxurious vehicles, loaded with extra features in production that bump up prices further.
When purchasing a new car, it’s important to remember these AAA Northern California tips:
• Start early. Considering limited inventory, potential wait times for specific models, and the need for pre-orders, start the car buying process early.
• Get pre-approved. Secure pre-approval from a financial institution before discussing finance rates with the dealer. This provides a benchmark for negotiating rates.
• Budget planning. Create a budget that encompasses all aspects of ownership, not just monthly payments. Account for insurance, fuel, maintenance and more.
• Negotiation separation. Keep negotiations for car cost, finance rates and trade-in value separate from each other.
• Trade-in evaluation. Check multiple sources to determine the value of your trade-in.
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- Written by: Elizabeth Larson
From Sept. 11, 2023, through Sept. 22, 2023, in counties where such licenses are available, applications for new original on-sale general and off-sale general licenses will be accepted at district and branch offices.
During the same period, priority applications will be accepted for the intercounty transfer of on-sale general and off-sale general licenses, as authorized.
Prior to the priority application period, the department will announce how many new licenses are authorized based on statutory authorizations and limitations.
The department will provide a list of counties that will be eligible for additional on-sale general and off-sale general licenses.
Only one priority application will be accepted from any one applicant per county for each type of license.
A fee of $17,335 is to be paid when filing an application for a new original general license and a fee of $6,570 is to be paid when filing a priority application for the intercounty transfer of a general license.
Only a certified check, cashier’s check or money order will be accepted for payment of the application fee, which should be made payable to Alcoholic Beverage Control.
If the number of applicants within a county for a particular type of license/transaction is equal to or less than the number of licenses available, all applicants will be notified that they have 90 days to complete a formal application for their specific premises.
If the department receives more applications than there are licenses available, a public drawing will be held. Priority drawings for new licenses will be scheduled the week of Oct. 23, 2023.
To participate in such a drawing, an applicant must have been a resident of California for at least 90 days prior to the date of the scheduled drawing.
Successful drawing participants will be notified that they have 90 days to complete a formal application for their specific premises.
Unsuccessful drawing participants will be automatically refunded their application fee (minus a $100 service charge) within 90 to 120 days of the priority drawing but will retain their priority ranking until a new priority list is established in 2023.
If an applicant owes money to California taxing agencies, a claim against the priority application fee may be made by the taxing agency.
If such a claim is made, the amount owed will be deducted from the priority application fee at the time of refund and remitted to the taxing agency.
In the coming weeks, additional information and instructions regarding application for original and intercounty transfer of general licenses will be made available on the ABC website and in district offices.
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- Written by: Lake County Economic Development Corp.
The “Borrowing for Business” class will be a hybrid workshop on July 10 at Lake Center of Mendocino College at 5 p.m.
The workshop will discuss the basics of borrowing money for business growth, how to apply for funding, and the nature of the current lending environment.
Panelists will include David Thurber from Tri-Counties Bank, Sid Harper from Savings Bank of Mendocino, Andy Lucas from Community Development Services, Robert Gernert from Economic Development Financing Corporation and Arcata Economic Development Corp.
The “Marketing and Photography for Small Business” class will be held at A+H General Store in Kelseyville on July 17 at 5 p.m.
Megan Andrus of Andrus Communications will teach basic social media strategy, local and regional social media trends, hands on photography skills, basic graphic design principles and social media analytics.
Andrus is founder and principal of Andrus Communications in Kelseyville. Her firm specializes in social media and marketing in the food, wine, lifestyle and travel industries.
Space is limited for these classes, sign up soon to secure a seat.
To learn more about the workshops, or to sign up to attend, visit https://lakecountycaedc.org/services/ or email
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