California's FAIR Plan's financial future | To The Point

[@ABC10]

Read more: www.abc10.com/article/news/local/wildfire/california-fair-plan-extreme-costs/103-efece771-4022-495f-9317-9da6ef7627f6

[@DesertCiti]

So...all the insurance companies will stop selling insurance in CA. What idiots

[@AdamD-o8v]

It is a very simple problem: make Pg&E pay or nationalize it like Europe, then invest in infrastructure instead of profit for shareholders, then insurances won’t leave the state

[@J0hnEbeG00d]

Such a scam. The major insurance companies already left. They’re not dumb. They’re not coming back. Why do business in a state where you can’t compete and make money? Overly regulated and price fixed by the California department of insurance. Just found out today most of the remaining insurance companies won’t renew or create new policies for townhomes/condos. The fair plan is taking approximately 1000 new applicants a day. The wait time to process a claim is ridiculous. The insurance companies doing business in California are on the hook if the fair plan runs out of money? What a disaster.

[@charliethesupebeagle]

It's not an insurance crisis. It's a crisis of homes sitting in tinder boxes, that continue to be rebuilt after they burn down.

[@coastalhillbilly3419]

Yep insurance is shared risk, not shared stupidity, CA won’t let insurers use credit scores as a risk factor, I wouldn’t be surprised if CA doesn’t let insurance companies differentiate high crime areas and low crime areas with auto insurance. Many San Francisco and LA residents think a good year is when their auto only gets broken into a few times a year

[@mrh6414]

This is just one more reason why California should elect a better governor candidate.

[@4af]

Zero news stories that teach the public how to shop for homeowners insurance TODAY !!!

[@coastalhillbilly3419]

“Fair plan not funded by the state” it’s funded by the insurance company who then pass it on to low risk customers

[@The_Amazing_Amber]

If these insurance plans are mandated by law, shouldn't insurance companies be required by law to insure people?

[@sumpat25]

Not if they decide to leave CA.

[@danhealey5417]

@@sumpat25 yes your right

[@riacardi7011]

Computer algorithms is the same thing that has happened to rent increases

[@hoefmiester]

Yeah well home prices have nearly doubled since 2019

[@WebDesignSocal]

Keep on voting all Democrat California! That's working....... ri-eeeght?!

[@MichaelChengSanJose]

We must sound like whiners. Us Californians have been spoiled for decades with some of the cheapest insurance rates in the country. Sure, paying triple what we used to pay in 2019 sucks, but frankly that just puts us in line with the rest of the country. We’re still not being gouged at those rates.

[@joesmith3590]

It is still very cheap in comparison to everywhere else outside of fire zones. If you are not near a disaster area it is very cheap. Much higher rebuild cost and lower rates are not sustainable.

[@2TrueForYou]

Hey California you guys suck!!! -everyone else in Merica