What type of coverage does the Fair Plan provide?

The Fair Plan primarily provides direct loss coverage for property insurance, particularly to those who might struggle to secure insurance through standard market offerings due to the higher perceived risks associated with their properties. This type of coverage is aimed at protecting against specific types of physical loss or damage to property, such as fire, windstorm, and vandalism.

It's important to understand that the Fair Plan is designed as a safety net for individuals who may be unable to obtain traditional insurance coverage due to the riskiness of their situation, often found in urban or high-risk areas. The plan does not extend to provide comprehensive coverage, which typically includes broader protections against various risks, nor does it cover liability or theft and indirect losses, which would require additional forms of insurance. Thus, the focus on direct loss coverage reflects the Fair Plan's intention to support property owners in safeguarding their physical assets in high-risk areas.