Published: May 29, 2025
The homeowners insurance crisis didn’t happen overnight, but its impact has been devastating for families across California and beyond. When we launched WOWS Insurance last year, we saw an industry stuck in outdated practices while homeowners faced skyrocketing premiums, policy cancellations, and in many cases, complete inability to find adequate coverage.
The numbers tell a stark story: between 2013 and 2022, insurance carriers posted a combined ratio of 108%, meaning they paid out 108% of premiums collected. This unsustainable model has forced insurers to either dramatically raise rates or exit markets entirely – leaving homeowners stranded.
Our Innovative Approach
Rather than following the same failing strategies, WOWS Insurance is pioneering new approaches to homeowners coverage. As featured in IMPAAKT, we’ve recently announced strategic partnerships with multiple insurance carriers to expand coverage options for California homeowners, particularly those with high-risk, luxury, and mid-level properties valued under $10 million.
What sets WOWS Insurance apart:
Transferable Policies: Our policies are fully transferable from sellers to buyers – an industry first that leading California realtors say can actually boost property values by making homes more attractive to potential buyers.
Comprehensive Risk Management: We’re not just issuing policies; we’re working with homeowners on risk mitigation strategies, seasonal treatments, and proactive risk management initiatives.
Expanding Access: Through our partnerships, we’re creating tailored programs that address the unique challenges of California’s insurance market while preparing to extend services to other states facing similar coverage crises.
The Bigger Picture
The IMPAAKT feature highlights something we see every day: when insurance becomes too expensive or impossible to obtain, it doesn’t just put homes at risk – it jeopardizes mortgages, destabilizes communities, and threatens the foundation of homeownership itself. We believe the solution isn’t to abandon challenging markets or price out homeowners. Instead, it’s to innovate, collaborate, and create new models that work for both insurers and policyholders.
Looking Forward
The recognition from IMPAAKT validates our mission, but more importantly, it helps spread awareness about the solutions available to homeowners who thought they were out of options. Every day, we hear from families who believed they couldn’t find adequate, affordable coverage – and we’re proving them wrong.
As we continue expanding our partnerships and geographic reach, we remain committed to our founding principle: providing real solutions to real homeowners facing real challenges.
Ready to learn more about how WOWS Insurance can help protect your home? Visit us at wowsinsurance.com or read the full IMPAAKT feature to see why industry leaders are taking notice of our innovative approach.
The insurance landscape is changing – and we’re leading that change.