On March 28, 2025, Insurance Commissioner Ricardo Lara approved a major FAIR Plan commercial expansion. Division I commercial property limits go to $20 million per building with a $100 million maximum per location. A new high-value commercial option, tied to a July 2024 agreement, is meant for larger housing and business risks that could not buy a full admitted property policy.
Residential FAIR Plan remains capped at $3 million for dwelling, other structures, and contents combined — a 2019 order, not a 2025 invention. The 2025 news is the commercial side: HOAs, small apartment buildings, and shop properties that had been forced into surplus lines or left short.
A FAIR Plan commercial policy is still a named-peril fire form, not a special-peril package. Pair it with liability, and do not assume ordinance-or-law or business interruption came along for the ride. Read the form.
If this is on your renewal, call the office at (619) 420-8600 or start a quote. We will tell you what the market will actually write.
Sources: CDI, March 28, 2025.