How will insurance companies handle SoCals devastating fires?

[@untouchable360x]

Deny, Defend, Depose.

[@mrz6480]

You beat me to it exactly what I was going to say Travelers insurance is the worst 👍👍👍👍

[@matw1x]

Lolol

[@colleenmcnamaradusti4861]

@@mrz6480 No, Maphre is the worst, they bought Commerce Ins. Co. in Ma.

[@robertking3090]

Insurance is not a guarantee; you pay for others, not yourself It operates like a legal Ponzi system. If too many claims come in and the company attempts to pay them all, it loses investors, goes bankrupt, and still cannot cover everything. The only way out of this system is to be responsible and save money for potential disasters in your life. Avoid getting involved in things you do not understand, and do not place blame on any one person, as it is counterproductive and unhelpful to society at large.

[@catherinepoloynis]

Delay, Deny, Defend: Why Insurance Companies Don't Pay Claims and What You Can Do About It, 2010 by Jay M. Feinman

[@PointBlankGuns-Ammo]

These insurance companies need to pay. You pay insurance for a reason only to have them deny you. This has to stop. These insurance companies make billions of us it's time to pay up.

[@JohnZBaeZ]

Right. Health, car, home, life..

[@amirraz1882]

I agree, they collect a homeowner's money for 10 or 20 years with no claims then they decide to cancel your coverage and not renew

[@chrisdeguzman7795]

Yup, insurance is a scam.

[@PointBlankGuns-Ammo]

@amirraz1882 yes it needs to stop there robbing us blind soon as you try and make a claim they deny you

[@Pencil-o1p]

Technically yes, but when thousands of houses being burnt at once like this, I’m afraid they don’t have enough money to pay up.

[@R281]

They will raise all of our rates.

[@ehd1990]

Just like auto insurance. Haven't been in an accident since 16 years ago and my rate just went up 50 dollars a month.

[@taxfree4603]

They should not be allowed to.

[@myshadowstalksme]

@@ehd1990I hear ya. Mine went up $120 a month for no cause. State Farm answer “it’s inflation”

[@MrMoo-g9f]

I already did last year 🤡

[@Dan-q6v1v]

Absolutely!

[@freespeech.7254]

Watch them deny claims.

[@cfcblue8]

Enter Luigi

[@freespeech.7254]

@cfcblue8 🙏🙏🙏

[@DANELL1979]

INSURANCE IS A PONZI SCHEME THE JIG IS UP " THE WELL HAS RUN DRY "

[@TreeofLife-r3d]

​@@cfcblue8maybe 😂 MARIO...his brother

[@prestongalindo1499]

They literally already were the same day

[@Paul_425]

If these insurance companies deny claims or drop policy members. I hope the people will protest against these types of business that scam people.

[@ganymedehedgehog371]

That sounds great until you realize the fires will be back next year and then everyone is going to be out playing fireman

[@cloud10ism]

Don't blame the insurance companies blame your countries leaders. Patriotism is a scam.

[@Horus845]

They will sue the government and the victims will play the waiting game , at the end they will get 10-30% of damage cost from insurance and the rest will be history. They will not pay full damages because government was in fault .

[@Hannah_The_Heretic]

California government forces insurance companies to lower premiums, now they don't have enough money to actually cover people. 😂 It's California's own damn fault.

[@relaxedleisure4766]

So now insurance companies aren’t allow to legally drop people? Go to the USSR buddy

[@danielcarlson800]

By canceling policies. That's how.

[@GaGooch71]

Liberals just don't get it. Trying to dictate what insurance companies can charge didn't work out to good huh Gavin.

[@eddieg6436]

……..The Palisades area will cost +100 BILLION to rebuild.

[@diegoflores9237]

They shouldn't have built there in the first place. They should not rebuild

[@miguelcastaneda7257]

Most of those aren't full time homes

[@Cinnamon535]

It's s good thing those people in Palisades already have money

[@a5t3k]

Old money, they probably forgot to renew in time or check the fine print. DENIED!

[@eddieg6436]

@@miguelcastaneda7257 …..not true. 70% FAMILIES.

[@NyuuMikuru1]

State farm dropped those owners months ago.

[@alwaysyouramanda]

THIS

[@irenmolnar221]

they where smart

[@CHINASAUR]

The insurance companies aren't going to do a damn thing & will deny all claims

[@JorgeGonzalez-vu6hd]

They need to b held accountable they charge high prices a lot of them for years without any incidents now we have fire and they will denie people laws should b put in place for insurance companies

[@christopherhoenig5155]

They took magnets to their computers at the” insurance “ company before the fire started

[@moedick1]

Look at the actors who lost their house. SOme actors make 20M a movie. Look at the 'profit' they make. Some Amazon and Google buildings were destroyed. Look how much billionaire Bozo makes (profit). Yet Insurance co's are bad guys for making any profit.

[@ng1663]

Between earthquakes, wildfire mismanagement, neglected infrastructure, skyrocketing costs, and crime that's out of control, I can't believe there are any insurance companies left in California. Why even bother.

[@Dan-q6v1v]

Most are mulit million dollar claims as even a shack in California can cost one million dollars!

[@megaprimegamer1184]

The premiums are higher tho.

[@JAYFULFILMZ]

The average house costs $500,000 anywhere you go! Why don’t insurance companies just charge them based on the value of the home! For example… if an average policy for a $500k home costs $3,500 a year & someone wants to insure a house worth 6x that amount then just charge them 6x more ($21,000) a year!

[@smeeagain3102]

Insurance companies will file for bankruptcy

[@DeenCooper]

Right if it goes pass the Budget probably 50 billion,with 20,000 arces of property destroyed they have too file for chapter 11,I think we're hitting a depression coming trump inauguration, civil war,or even a national blackout

[@Dan-q6v1v]

They did that in Louisiana and left!

[@Dan-q6v1v]

​@@DeenCooperI agree!

[@ericb8413]

I thought the same thing. They can’t cover the billions of dollars in losses. 🔥

[@smeeagain3102]

@@ericb8413 it’s just not one company but since the CEO’s give each other millions of dollars in bonuses they cut corners and drain their overhead

[@JohnZBaeZ]

If they made monthly payments on their property insurance of course their homes should be covered. If not, it's considered fraud

[@xygo6038]

What about them cancelling insurance for people right before this

[@NotYourTypicalPortfolio]

Property insurance is not fire insurance. Try again

[@lotos3063]

We have a bot replying to every comment and defending insurance companies in the comment section🤦 KZbin is such a bad platform

[@xygo6038]

@@lotos3063 bruh insurance company’s out here deploying bots to defend their heinous actions

[@NotYourTypicalPortfolio]

@ def not a bot

[@mickhick619]

They'll walk away and deny insurance claims while counting all the money they have taken from every one of their clients for years and act like they did nothing wrong.

[@vikinghog]

Am i the only one sick and tired of subsidizing homeowners for their insurance costs in high risk areas? They get all the beautiful views, foliage, wildlife, privacy, etc., but do not pay the full cost of insurance for their higher risks. In most cases, it seems the wealthy are the ones getting subsidized by the less wealthy who live in lower cost housing in higher density flatlands with lower risks.

[@angelarich8455]

Exactly

[@TerryGreen-ye5ry]

The first shall last and last shall be first.

[@lynncollver6067]

Please post a list of the ones that cancelled policies a month or so before this nightmare ?

[@danasmith858]

Because they're the intelligent ones that you want to have representing you

[@ebolawarrior451]

They did it in April, do some research of your own ffs and I understand why. Tired of rebuilding a new house every year.

[@celestialtl]

Yeah, because these are the ones whose stock we want to buy.

[@alwaysyouramanda]

I know State Farm did.

[@jeffreymedeiros6253]

State Farm, Nationwide, and United Fin Casualty all pulled their policies and left the state. This is because the state of CA passed laws not allowing them to increase pricing. When the cost of the risk pool goes up so does insurance. It was a business decision due to the state.

[@CherimoyaQueen]

I’m in low risk area, why I need to pay for people who choose to live in high risk area????

[@lizexi7115]

communism

[@ganymedehedgehog371]

why does a healthy person have healthcare? to pay the unhealthy and sick by pooling the funds.

[@Biff.Bogardus]

Wow that's your response? Yeah your KZbin name says a lot about the way you think, "Self."

[@CherimoyaQueen]

@@Biff.Bogardus it’s common sense. If you live in high risk zone, then you should pay more for your insurance. If you live in low risk zone, then you should pay less. It’s the same as car insurance. If you’re older with low violations, you pay less. If you’re young new driver, then you’re at higher risk, and will have to pay more.

[@mike8857]

@@Biff.Bogarduswhen people buy their home there are disclosures about the natural risk of the area.

[@blakeaaron5698]

Folks have to remember insurance companies are FOR PROFIT, they will not expose themselves to risk that undercuts their objective.

[@monas5054]

then why do we even have them, when you cant use them for what you are paying them for? Getting a claim approved seems like winning the lottery nowadays even though we all pay them.

[@colleenmcnamaradusti4861]

@@monas5054 It,s really quite simple why! 1st, because we have the check book, 2nd, read the fine print in your policy, and 3rd they are exempt from anti trust laws! FACT! 4th They DGAF about you or I, just their greedy corporate profits! Jeff D.

[@taxfree4603]

What is the point then? Where else are you allowed to provide a service and deny performance because it will cost too much while keeping their money. It's highway robbery

[@tfyk5623]

why ask for payment every month if you can't uphold your side of the deal?

[@angeladansie4378]

Then the government should nationalize them, seize all the assets (including those owned by the greedy CEOs) & throw them in prison for fraud

[@MichaelDebalski-mk6bt]

These poor people are about to find out what the difference is between actual value and estimated value of their properties !

[@Carlosyabrudy]

So why would anybody want to live in Los Angeles now? You can build something your whole life only for it to be taken away by suspicious fires without insurance. You lose it all.

[@markfarrington9727]

There's no way insurance companies are gonna even come close to being able to cover this

[@LexusGX460-OFF-ROAD]

Not true, they will easily cover it... Insurance companies are _nationwide_ not just in California. The many low-risk states pay for few low-risk states (CA) simple as that... claims won't be denied... The other 40 low risk insurance payers will pay for this (and Florida, and tornado alley)

[@davidh8081]

@@LexusGX460-OFF-ROADWell, not quite. Insurance companies use subsidiaries in troublesome states like California. For example, State Farm uses State Farm General Insurance in California. The parent company is not liable for the losses of the subsidiary. So, if State Farm General files for bankruptcy, State Farm parent co remains untouched. The irony of all this, is that if i recall correctly, the subsidiary was started at the request of the state.

[@ericb8413]

Exactly

[@Dos-dh9ul]

​@@LexusGX460-OFF-ROAD easily cover 😅😂 , even if they actually could they never will !!!!! Dont be delusional

[@Liberalcali]

They dropped 72,000 policies who’s paying?

[@gloriabeacon1813]

Of course the socialists want tax payers to pay. We should not have to pay for this.

[@MadKitty10]

Insurance companies will continue to drop customers in California and not pick up any new ones. These companies will not do anymore business in the state period .

[@jameswalker7138]

$750 CHECKS OH I FORGOT THAT'S FEMA $800 CHECKS FROM INSURANCE COMPANIES

[@peterwa6567]

770 dollars better than NC 20 dollars

[@TerryLawrence001]

Insurance Agencies will do what they always get away with - Drag their feet and not pay til a court makes them, or simply shut down and reopen under a new name. Just ask Warren Buffett

[@VincentLin-w2r]

We SoCal Residents are getting scammed by Home Insurance Companies.

[@billybupkis3688]

You SoCal homeowners keep buying properties in fire prone areas. I wouldn't insure anyone in the foothills of LA. I was born and raised in the Valley, and have seen this year after year.

[@leonardodakimchi]

You are being scammed by your own Politicians. 😂

[@jonton47]

You don’t say

[@taxfree4603]

Everyone, not just SoCal

[@alwaysyouramanda]

Left and right.

[@seanieboi1234]

Scene from The Incredibles Mr. Incredible: We're supposed to help people! Insurance Boss: We're supposed to help OUR PEOPLE!

[@kananeesh7900]

Denying and raise rates for all. It’s definitely not coming out of their pocket, can’t take away the executives and board members vacation homes.

[@karadizon4299]

It’s awful. In state of CA, we are required to purchase fire home insurance

[@lesduffey6032]

Only if you are financed. I can't find anyone to cover my home here in Merced.

[@CasuallyRekt]

@@lesduffey6032 not many people pay for their homes in cash

[@36CatsHeavenRescue]

I live in Sacramento and wish I could move out of state,but my 2 disabled children get so much help here we will never leave.

[@tfustudios]

Our state laws on Insurance fees created this mess.

[@Aa_rush9]

Free Luigi, he has new work to do...

[@JAYY_JAYY]

Insurance CEO Better hide in a bunker . Once they start denying all these claims

[@kevint5391]

Even the American Indians 600 years ago knew about the wildfires they knew about the risks they knew about the dangers and they knew about the constant cycle of fire, wind, rain mudslide that’s why they didn’t live there

[@rtreed77]

All of us who aren’t millionaires and don’t live in fire zones are going to pay for this like always

[@angelbest19lop78]

Right doesn't matter if you moved away thousands of miles to avoid since insurance rates will alwats get you

[@Wasupup]

They will spread the losses nationwide. The whole country will pay

[@eddieg6436]

After the 2018 Woolsey Fire, State Farm RAISED my rates in Agoura Hills 45%!!! I sold my house, and moved to Nevada (yuck, I know). I believe State Farm DROPPED the entire area eventually anyway!!!

[@steveclujhawkins8063]

01/10/25' State Farm...like a good neighbor state farm is there. A company jingle Over 50 yrs old. I am 71 yrs old and state farm has been screwing people w/o notice my entire life.

[@lynncollver6067]

It's been ok posted online that State Farm did cancel policies a short time before this nightmare 😢

[@GruvisMutt]

That isn't necessarily yuck. Yuck is anything in the Midwest or South, especially where they frequently get snow and/or tornadoes.

[@ericb8413]

How do you like Nevada? I’m in So Cal and my friend bought a house in Sparks and loves it there. She left So Cal 3 years ago.

[@rivaridge7211]

@@steveclujhawkins8063 Yes, I recall that State Farm jingle - growing up we had "Nationwide" as our house insurance provider. After a wind storm (which did some damage to the house) I recall mom saying, "Nationwide is on our side" (using their "slogan") before she phoned them. (She had that kind of humor, which I now miss).

[@hokeywolf3416]

Everyone will pay for this

[@Dos-dh9ul]

Not me 😅😂

[@JessicaHarbaugh-h6w]

Delay, deny, defend. People on the east coast & other states will have their rates jacked up

[@BencerCourt123]

They will deny claim, and cancel existing insurance...

[@Michael-r7f4b]

They will find you have missed last payment and there are no records due to the fire

[@camilleruggiero3098]

75% of LA home values are in the land. The land & utilities are always there.

[@jasonjones759]

Just Got cancelled for "cracks" in a blacktop driveway. 👹

[@bighawaii]

Bro for real? I hope you’re joking.

[@jasonjones759]

@bighawaii it's infuriating.

[@DeenaMilkers]

the risk of living in these areas has not been factored into the (outrageous) cost of these homes. its the same with condos in florida right now, although there seems to be more admission of it in floridas case.

[@jtrain9926]

Yeah you can't get flood insurance in FL anymore

[@Bob-r1d7n]

Isn’t it strange that a lot of homeowners had their insurance cancelled just ahead of these fires? It happened in the Highland, California fires also, weeks before that fire, insurance companies cancelled policies for no reason!

[@Dos-dh9ul]

Actually There is reasons 😅😂

[@Dan-q6v1v]

After a hurricane in Louisiana our rates went up by 3 times!! It was shocking even though i never put in a claim. I paid for my destruction out of my own pocket!!

[@frankcerbantes9429]

Insurance companies are already coming up whith new language to Denied or triple their policies

[@turokmakto9033]

My father stayed the whole time to make sure his house didn’t burn down

[@MrKlumZ]

They will file bankruptcy and the CEO will try to get as much money as they can then flee the country.

[@pizzatc0165]

They state needs to do something to block them from raising rates after this

[@36CatsHeavenRescue]

I don’t live in a fire area here in Sacramento but my insurance literally doubled a few years ago because we were canceled (California fires) and the only insurance I could find was the company that cancelled me at double the cost.State Farm literally told me that they were pulling out of California but then later told me I could get a new policy at double the cost. Since I had a big sunroom addition without permits I was afraid to shop around much because the insurer needs to see the house etc to insure.

[@catherinepoloynis]

Do you think that State Farm considered the $7 Million taken from Fire Dept funding plus elimination of crucial personnel positions in their risk calculations before decision to dump homes in Pacific Palisades from their homeowners coverage?

[@Robo0919]

Thank you. MSM sure is quiet about this. You know about it I know about it but I bet millions of people don't

[@RosyJacobin-xt8jd]

They will file bankruptcy 😆

[@hanniballecter4454]

yes, but those homes are probably under llcs or some trickery, they found a way to renovate using emergency federal funds. phase 2 of clean up l.a. of us poor, then once people start to leave, the heroic rich will rebuild with tax dollars and say they were brave for staying and fighting while the poor abandoned l.a., so it is theirs now legally, financially, morally, and spiritually. pretty clever.

[@cyberpleb2472]

They might have to.

[@jtrain9926]

It's a me, Luigi

[@tonymccord4913]

They will raise rates, that's easy. Nation wide not just California.

[@BarbaraKimble-km4fh]

fair plan has a cap of 200mil i heard

[@kalesmonroe2556]

everyone in the US will have to pay for these people to live in what they call "paradise"....you choose to live there, and you should assume the burden. But that is not how this is going to play out. All of us are going to bear the burden so they can live in great weather.

[@arbeedv2722]

The Insurance CEOS should be careful now😂😂😨🤨✌️

[@michaeljolly7949]

I doubt we will hear about all of those tunnels under those celebrities houses Just like Maui will all be censored 👍🏻🤡

[@Atarah-t9v]

The Newsom Fire

[@RealMTBAddict]

Luigi will make sure they pay.

[@manimalshreds8872]

Wheres Luigi?

[@kingdingaling6516]

"We're supposed to be helping OUR people! Starting with our stockholders, Bob. Who's helping them out, huh?!"

[@WhiteLotusChief420]

So it's okay they steal peoples money?

[@robtaylor61467]

The whole damn state is a high risk area, either way rates and cost will go up for everyone 🤨

[@Dan-q6v1v]

California did NOTHING knowing this could happen!! They never had any fire breaks even though they look unsightly! They better build fire resistant homes, with metal roofs, stone walls and aluminum shutters on windows and doors.

[@rubensoria7457]

Thats very suspicious....

[@zoickn]

Suddenly all the insurance company offices are also burned down and no records to be found. Suddenly.

[@irenmolnar221]

How about the 800000 homeless in Los Angeles?????

[@buzzlightyear8536]

How do they solve let me tell like how the governor and mayors do look away and say i dont know what Happen then go about there Business.

[@ss_websurfer]

When these kinds of things happen, it’s a moment for humanity to open its eyes to all the obstructions we’ve created for ourselves. Even if the insurance companies had the money to cover the damage, money and the ideology of profit and individualism itself is what holds humanity back during crisis like this. The resources are there. The people to help are there. There’s plenty for everyone to have their homes rebuilt. What’s missing is the willingness to cut through the barriers we’ve built around helping each other. The barriers of money, profit and individualism. This is a chance to look back at how life used to be in the past. We don't need to look that far, in the 1800s, when natural disasters struck, people came together. Communities helped each other rebuild their homes because they valued connection and survival above anything else. But now, the lack of those values has put walls between us, literally walls that stop us from stepping up when things like this happen. I think it is time for a wake up call, to reevaluate the world we’ve built. We've seen this before during the Great Depression. The food and resources were there, but the systems and ideologies we clung to held us back from helping each other. It is literally when disasters occur that the ideology mask falls down and we are literally clueless, and do not know what to do. The answer is right there in front of us.

[@cyberpleb2472]

So, you're a communist? ;)

[@alwaysyouramanda]

They pulled out early but will definitely cite these latest fires as they up the prices for those still covered

[@cristinacarrion4723]

They did to start reimbursing premiums for all the historical times that no claims have been filed since now they are taking into account the "possible risk".

[@OLDGUY7301]

Eventually they'll ALL leave the state. What then. In 03 after the old fire ours went from 680 a year to 2250. And from 3 available companys to one. Crestline. Their all leaving now. Good luck I left thet disfuntional state 14 years ago.

[@Assukashikinami]

Sue the insurance company

[@cotiocantoro7564]

So is it going to go towards the value of the home or the construction cost value of fixing it again? The home prices were all balloned up to begin with. Im just wondering how they base it.

[@Muzikrazy213]

I can't Believe MILLIONS of people in this country pay THOUSANDS EVERY MONTH into basically "subscriptions" for coverage, and then when the time comes to pay up, they NOT ONLY simply say "no" but they turn around and INCREASE THE MONTHLY RATE. and those MILLIONS of people have just sat back and taken it. This HAS TO, MUST CHANGE. We collectively need to do something.

[@workoutmusic4570]

Insurance shouldn't be for profit , it should be for help when needed , Insurance are so ev il they just wa nt ea sy money collecting trillions of dollars from poor pub lic and not to gi ve back when is reallyneeded, pure ev il well regulated legal industry, biggest sc am ever in human history

[@mikew.to1]

Along with little to no insurance, how will the local government react to property taxes on what was a heavily taxed region is now where the value of the property is a fraction of it's assessed value. Are they still expected to pay for a home that is non existent and without services, including apparently fire response.

[@taxfree4603]

The insurance companies should not be allowed to raise everyones insurance. They make billions in profit yearly, and they can afford this. This is why they have been collecting our money for the past several years now its time for them to pay.

[@GarageGeek]

We need to get rid of insurance. Recovering from health issues or deviation will ALWAYS be less expensive if billions of dollars are not being skimmed off the top.

[@jackthereaper4462]

Oh no you're telling me a few of those insurance companies names are going to come off the biggest buildings in town? What a shame.

[@HippoBearsRecipeKingdom]

We need to overthrow the whole insurance industry .. they are useless other than parasiting on our money

[@ridemfast7625]

Fire safe space around homes was clearly ignored. Even Cal Fire has easy to understand diagrams regarding this important aspect of homeowners responsibility.

[@djb1273]

"How will insurance companies handle SoCals devastating fires? "😂 By screwing everyone as hard as they can of course.

[@cindyhitson9367]

I think the Insurance Companies need to help everyone who lost their homes in this Devastating Disaster. No one should have to pay a dime

[@Bazooka-Charlie]

Lets ask Luigi

[@bee21194]

Time to lawyer up if the insurance companies don’t cover

[@NaySayersRanch]

Deny deny deny reevaluate deny and if they don't give up we'll offer Pennies

[@LtMav-zk2qo]

Insurance companies will sue California.

[@r2did2-b2o]

50%. More like 150% increase in rates

[@wayneyd2]

Insurance companies will filed for chapter11 and everyone else is screwed. DO anyone remember the Rodney King Riot? All the insurance companies disappeared and left their policies holders with nothing.

[@irenmolnar221]

Human greeds why they need such a big house???? People are very greedy this days!!! Live simple and love GOD!!!!!

[@joeybaseball7352]

Luigi has opened up a lot of eyes. Its not just health insurance corporations who's scummy. They all are.

[@LexusGX460-OFF-ROAD]

Insurance companies are _nationwide_ not just in California. The many low-risk states pay for few high-risk states (CA) simple as that... claims won't be denied The other 45 low-risk insurance payers will pay for this (and Florida, and tornado alley)

[@nrgonline]

Everyone is screwed.

[@Canuckbelgo]

Hello from Belgium. So they Maui'ed you... You do know that this was done on purpose as part of Smart LA 2028 ? Just a coincidence surely...

[@hephaestus6365]

The insurance companies should sue the state of California and the governor personally for reimbursements after they pay off the policies.

[@kevinw1090]

Change the building code to require the use of fire resistance materials to clad the house. To offset the higher initial cost, insurance company should provide discount for buildings constructed of noncombustible materials on the exterior..

[@Chaz136]

California has mandated home insurance money coverage to cover dropped insurance policies. The backup called the FAIR Plan allows people to get insurance and the plan includes taking money from private carriers . If that's not enough, then increasing cost to all policyholders to cover what's needed

[@Jason_The_Man]

They better. I doubt only Healthcare Insurance CEOs are on someone’s list.