Insurance companies change coverage in California

[@13lood13ath]

Think about how much money we pay throughout our lives for insurance. Now think about how often you've actually needed insurance or how often insurance has actually benefited you. It's a scam.

[@mjblue84]

AMEN!!! It's what I call throw away money. They take your money and when you need their help, they will find ANY excuse to NOT pay you or help you.

[@هذاأنا-ذ3ث]

100%, cash in hand is the best insurance. But, they make buy insurance.

[@pullingthestrings5233]

Then don't get none 😂 cancel your health insurance while you're at it and save money

[@bobroberts2371]

Care to explain in detail how insurance works? ( Hint, it is called shared risk . )

[@chasingsunsets87]

Agreed. But everyone false for it and keeps passing the buck.

[@lbaker3602001]

I live in the midwest, a friend & his wife filed a claim a tree limb had fallen onto their home during a storm. So they filled a claim against it, the ins. company told them since the tree was within 250 feet of the house they were not going to pay/cover the cost. This was the only time they had made a claim in thirty years of paying their home owners ins. They quit their home owners ins. policy ASAP, it was State Farm ins.

[@annoyedok321]

I had hail damage and got $ towards a new roof. Next year my account was sold off and dropped due to overhanging branches.

[@elizabethpadilla6802]

it would be nice to be able to deduct property insurance on our income taxes

[@lisabaltzer4190]

I am 64 years old. I remember when you could deduct credit card interest, car payment interest and all medical bills and insurance premiums that exceeded 2.5% of your adjusted income. The federal government is making it harder for people to financially survive. After all, we have to support illegal aliens and make sure that the Ukrainian people “have something in their pockets”, but our politicians don’t care if the American people can pay our bills and have enough money to buy food. Both parties are guilty of this.

[@RH-cv1rg]

It would be nice to deduct food too.

[@PhatAssObese]

@@RH-cv1rg Real Estate people deduct everything, always claiming everything as a loss and put any profits in alternative fund that gets taxed differently. i hate them lol

[@Gustav-vu5tj]

Why should that be deductible?

[@Panda_J1]

That would be nice

[@jamessantos5857]

My insurance company declined to renew my homeowners policy. I live in the center of a very large subdivision surrounded by a golf course in the Bay Area. No wildfire risk I can see. Insurers are just wanting to leave California

[@littlebitofhope1489]

They are doing this many places, not just California.

[@neilkurzman4907]

The problem isn’t your home. The problem is other homes that they would be forced to insure if they stayed in the state.

[@littlebitofhope1489]

@@neilkurzman4907 What law forces them to insure others when they insure one?

[@neilkurzman4907]

@@littlebitofhope1489 All 50 states have their insurance laws. I can give you an easy example. You can find stories of people who say they live on the 10th floor and have to buy flood insurance in Florida. It’s not because they need flood insurance. It’s because the state is trying to spread out the risk pool to more people to keep the rates down. But if you want to know how it’s done in your state, you’ll have to find out what the insurance regulations are in your state.

[@bobcortez9471]

Leaving California is in style at the moment

[@Flipzkizz26]

I've been paying insurance for my car for 20 years and not once I have filed a claim and it keeps on increasing year by year... sigh

[@mefirst5427]

Sounds like you need to shop around for better policies, work with a reputable broker, they will find something that works for you.

[@rpdbu8250]

What about DMV registration fees!?!?!? Let’s complain about that!

[@saffloweroyl3663]

​@rpdbu8250 then don't drive a pricey car.

[@TheBandit7613]

How much were average cars 20 years ago? Were pickups $100K? One smallish crash can be very costly now.

[@hitmanskid-td4pg]

@@saffloweroyl3663 da fack. even my 12000$ car is too price-e

[@HumongousHomunculus1234]

I fled California as a political refugee 2 years ago for Nevada. Here I bought a brand new 2200sqft 4 bdrm 3 full bath house for $495k and my annual homeowners premium is $550. I really miss my home state sometimes but not enough to ever move back.

[@saffloweroyl3663]

The fires will follow you

[@Meatwad650]

“Political refugee” 😂😂😂😂😂😂😂

[@HumongousHomunculus1234]

@@saffloweroyl3663 As long as Gavin Newsom doesn’t follow me here, I’ll be okay.

[@cRUIZcontrolFPV]

I got a 2 bedroom with a huge lot here in Hawthorne for 400k. Cali is worth it i haven't had to shovel my driveway ever.

[@icedcoldkilla]

Dont vote democrat

[@johnrobinson5156]

Never trust a Politician, Lawyer, Convict, Actor, Narcissist or Insurance Guy 🤡💩👹🤖🤩👾 LIARS

[@SA-cm9wp]

Add to your list: a Democrat

[@julioserrano1407]

​@@SA-cm9wpThey fall under the politician group.

[@user-pn3im5sm7k]

All of which are typically Jwish. Not my fault I notice patterns.

[@billmoran3219]

If insurance companies don’t want to pay out for policies that customers pay out for years and decades (with no claims) , because they say that they are losing money maybe they should do a better job at going after fraud (which is their biggest expense / problem)and not punish the customer that has done their do diligence to maintain required policies.

[@captng]

😂😂😂 California should insurance risks. California should pay insurance company a submental amount..or create their own insurance company

[@peter-pg5yc]

hello ca always has claims for fires, always..its not a when its a now..

[@neilkurzman4907]

If insurance companies can’t turn a profit they can close their business. Your policy is for one year only.

[@DANIEL-gq1nr]

Its not payouts that is the problem its inflation and laws, california has laws that only allow insurance companies to raise rates of like 2 percent per year but inflation if no one has even noticed is at 150% over the last 2 years and the rest of the country through national carriers are subsidizing Californians policies at the moment and the big carriers can't compete in other states against smaller local carriers so they are hemorrhaging customers & income. So in response the large carriers are pulling out so they don't lose the rest of their customers in the rest of the country. So if anything is to fix this it would have to be california laws need to be changed to allow insurance companies to raise rates of Californians past the 2 percent to catch up with inflation.

[@neilkurzman4907]

@@DANIEL-gq1nr Right concept completely wrong details. Somebody told you inflation over the last two years was 150% I believe the number you’re looking for is 10% No, the rest of the country doesn’t subsidize California. Do you just off and make up stuff because you think it matches your politics. California allows reading classes based on the formula that looks to the past. It doesn’t cover all of the recent wildfires.

[@LittyJonez]

LA County, Santa Clarita Ca, my property insurance in 2017 started at $1200 a year, this year we are at $2850 a year with Farmers.

[@vishnu2699]

Sounds about right, minimum wage went up, property went up, how do you expect the same price LOL

[@TSUTENKAKU007]

Did you find out why so much increase in premium? You need to find out why.

[@citticat2]

Cause the fires and then end the insurance - a great way to steal property right from all under us.

[@h5mind373]

You're not far off. Look at CA's stupid laws against clearing dead brush from away your property lines. A friend's home backs up to "protected wilderness", and the tumbleweed piles up a few feet from his backyard. In a forest fire, he's screwed.

[@richatlarge462]

It's unacceptable if people can't purchase home insurance, especially when mortgage companies require it.

[@danam579]

Insurance cost is based entirely on the risk. This is the free market economy telling you that climate change will destroy your home.

[@richatlarge462]

@@danam579 But if mortgage companies require insurance, then you can't buy a home unless in cash, which is only true for a tiny percentage of people.

[@danam579]

@@richatlarge462 if you step back and look at this from a different perspectives, this is the signal from the free market to home buyers. The market is Kelli homebuyers, that the likelihood of homes in that area being destroyed using almost certainty. This is the free market Helene homebuyers the selling price of homes in some parts of California is entirely out of alignment with the certainty of those homes being destroyed. What is the fair market value of a piece of property in a disaster zone?

[@danam579]

@@richatlarge462 why do you think the mortgage companies won’t loan on uninsurable property?

[@personxyz1840]

Are you saying banks should lend you money without insurance?

[@ronaldmcdonald3965]

People don't know how insurance works. Lots of anger expressed against insurance companies They don't know insurance is priced to cover the losses of a small number of contract holders But when........... 1. Entire communities and forests are burned 2. When stores are robbed over and over 3. When cars are broken into and fraud is rampant. Then the politicians fan the flames of deflection/blame/excuse against the insurance companies.

[@eddiefniii]

Then you have adjusters making 200k plus to deny claims. Etc. Part of the problem. Banks require insurance if you have a loan. If there’s no loan you are not required to carry insurance.

[@paulyg1741]

@@eddiefniii dude, billions of dollars at play yet you're worried about some adjuster making $200k. Self insure then and be ready with the gofundme when your house burns down.

[@eddiefniii]

@@paulyg1741 lol. Well multiply those thousands of adjusters. Same idea why insurers are leaving. One or two claims. No big deal. Multiple claims. Same principle. Then if you even make an enquiry they ding you.

[@paulyg1741]

@@eddiefniii I don't understand your response but all the best Man

[@charliehustle9779]

@@paulyg1741I’m not sure why it’s difficult to understand.

[@omegaman1409]

Here in Florida it's the hurricanes. Every year seems to get at least one. So the big insurance companies saw at a loss and left altogether.

[@chillingsworth4384]

My car insurance was literally double in FL as opposed to CA. I go back & forth and not looking forward to getting gouged in Florida, it’s ridiculous. I have no accidents or tickets and I’m paying through the nose there 🤦‍♂️

[@Jason-ml3vs]

They NEVER lose money. Their accounting P&L is based on projected profit for the next quarter,or year etc. Example: They project they will make profit of 1 billion dollars for the next quarter, if they only make 700 million in profit, they see it as a loss of 300 million and THAT is what they crow and whine about in the news. I hope you see just how pathetic it is to be a person in this country instead of a corporation…and the government rolls out the red carpet for them to get away with it without 1 single speed bump.

[@Supernaut2000]

@@Jason-ml3vsvery true.

[@h5mind373]

@@Jason-ml3vs Don't forget, the laws we're complaining about are all written by the lobbyists for these very same corporations. Next to bankers, corporations suck the lifeblood out of every country where they operate.

[@joenunez938]

​@@Jason-ml3vs 13 insurance companies going the bankruptcy in Florida... "Never lose money" 😂

[@MrDdub619]

Housing prices are too high. Insurance companies cant afford to fix million dollar fixers that came without a refrigerator. The data from Florida is putting Insurance companies on alert.

[@mw4507]

price controls having a predictable effect.

[@h5mind373]

Price controls never work because they are treating a symptom, not a cause. They will never admit the cause.

[@80sriceman]

Its 4 major insurance providers basically pulling out of California: home, auto and commercial vehicle. Among trucking/ transport companies, the word is getting around, rates have TRIPPPLED in most cases.

[@keikei3301]

Ricardo Lara is California’s insurance commissioner. Vote him out. He is responsible for finding a solution to this problem but he hasn’t done a thing but ignore this crisis and it’s only worsening due to his inaction. Call his office, bombard his social media accounts until he actually gives this growing problem the attention it deserves and does his job to fix these issues that are not only just affecting but hurting California homeowners and residents. This is a massive problem that needs a leader with the experience and skills to fix it. Unfortunately, Ricardo Lara is not the person for this job. He has repeatedly chosen to ignore the issues and as a result of his incompetence and shocking ineptitude, it has now become a crisis that has developed under his watch; he is responsible for this problem and for fixing it and has done nothing, made zero proposals and offered zero solutions. This is gross negligence!! IMPEACH HIM. He doesn’t deserve to be commissioner and isn’t equipped to handle the job.

[@markthompson7503]

@@keikei3301 YUP!!!!

[@starcatcher3691]

@@markthompson7503 Good to call them but outing them on Twitter, sharing this video and tagging them, is a great way to "out" them.

[@wasco1989]

This is also happening in Texas and Florida.

[@Ellis1993]

@@keikei3301This is happening around the country. It’s not just a California issue. I think we are going to see a major financial collapse in America soon.

[@DBat-sp1tp]

We received a cancellation letter from our homeowners insurance last month. We live in Shasta County which has seen it fair share of wildfires. However, we live in town with no big trees or anything that can cause a big wildfire nor do we live anywhere near an area that it can easily spread from. Luckily we were able to get coverage immediately from GEICO . But we may not be so lucky next time if GEICO decides to pull out too. Seems to me that this is one way to make it extremely difficult to own private property because no matter where you live these days there is some sort of risk.

[@Athea34]

What about Palm spring?

[@mannyechaluce3814]

@@Athea34 You might get ran over by grandpa

[@bakedboy9796]

I got to “We live in Shasta County” and stopped reading

[@danam579]

Customers in low risk fly over states have been paying the cost of ensuring homes in disaster zone states for too long. I suspect most states have updated their insurance regulations to illuminate cross state risk transfer. It doesn’t take a rocket surgeon to figure out that California and Florida Are no longer economically viable, and haven’t been for quite some time, without subsidies from non-disasters in states. This is the new normal. The West Coast will face alternating unprecedented, atmospheric river-based floods, then droughts than fire storm season, then floods again.

[@danam579]

No dude! Risk is not a binary factor. There are lots of places in the United States, where the probability of my home being destroyed by a natural disaster in the span of 30 years is less than 1%. Any actuary with access to modeling software and $1000 GPU, can figure out the probability of any building, being destroyed by fire, flood, or storms. They did the math. In those really good climate models are showing those houses are doomed

[@j2tharomeone5]

There's zero mention that the insurance commission in California refused to grant rate increases to insurers when they requested it. This, on top of what has been mentioned, exasperated this whole ordeal. If the commissioner would've approved the rate increases we'd see the increase, but, at least, you'd still have options to shop around.

[@anonymous..-]

Exactly. Having an elected official in charge of allowing rate increases is ridiculous. Californians have no idea what insurance really costs because the commission has forbidden increases for years. Now insurance companies can’t stay in business.

[@jeffjohnson5053]

American home buyers are VERY ARROGANT, they purposely and willfully want to buy homes in fire areas, like near dry grasses, mountains, dry areas, no trees, dry hills. You see this everywhere you go in Any state and especially in California. Of course there is alot of fires. I don't blame the insurance companies for NOT wanting to insure these homes. They got what the deserve!!

[@Direct.injection212]

Darned if we do and darned if we don't

[@jeffjohnson5053]

@@Direct.injection212 STOP buying houses in grass, dry tree areas. Duhhhhh!! You got what you deserve!! I hope all the insurance companies cancel these foolish arrogant home owners who wants to buy houses in dry grass tree areas!!

[@nedtaylor1983]

@@anonymous..- F insurance businesses.

[@jaypikachu6660]

When companies don’t make money then they leave, it is just business how hard to understand.

[@ErickIsBeowulf]

Just because a business is profitable doesn't mean you do it, that's the issue with our politicians (taking bribes) and the business of price gouging. Sure, its legal, but it's not morally right nor should it be legal.

[@neilmanhard1341]

@@ErickIsBeowulf And the converse? If a business is NOT profitable means there will be NO business. All businesses are only in business to earn a profit. They don't exist for "good will", pay revenues or even to provide employment. They exist to make a profit. So, if an insurance company cannot make a profit in California, should they stay to either just tread water or operate at a loss? Certainly not. They are obligated to make maximum profits for their shareholders. Apparently, you have a problem with profit. "price gouging" can only be done during times of extreme emergencies and shortages. Other wise, it's just a business trying to earn as much as possible. It's limited to how much the consumer is willing to pay. Remember, a consumer NEVER has to purchase anything. Even insurance. Auto insurance? Don't own a car. Home insurance? Own your home mortgage free or don't buy any property.

[@neilmanhard1341]

@@giveme5mins Huh? Then, if the mortgage company pays for the home insurance, then, the mortgage company collects on it. The homeowner, since they didn't pay, are not entitled to anything. So, if the home burns down, the homeowner gets nothing and the mortgage company gets the check. That can be a lot of loan payments for nothing. That's how I see it. What's your scenario?

[@neilmanhard1341]

@@giveme5mins I believe the mortgage company only collects up to the value of the outstanding mortgage. The insurance protects the mortgage company from loss. But, if there is no mortgage then there is no need for insurance. Should mortgage companies also sell home insurance? I don't think that's a good move. Then, the mortgage company will be insuring property that they already own. That's no hedge against loss. Because the insurance company is taking the risk of insuring, then no one else should dictate to them on who they should insure. If the buyer cannot find a willing insurance company, that's on the buyer. Some people are just not insurable.

[@bernaclischurchill4463]

But, they don't have a problem of asking for your money and/or sending you a renewal notice with a rate hike, which they never explain & don't care about. They raise your rates, even if you don't have a claim and/or never had a claim. to me, if you have never had a claim - you should be getting at least 50% of your premiums returned to you for NON-USE. Ms. B. Churchill

[@keikei3301]

Ricardo Lara is California’s insurance commissioner. Vote him out. He is responsible for finding a solution to this problem but he hasn’t done a thing but ignore this crisis and it’s only worsening due to his inaction. Call his office, bombard his social media accounts until he actually gives this growing problem the attention it deserves and does his job to fix these issues that are not only just affecting but directly hurting California homeowners and residents. This is a massive problem that needs a leader with the experience and skills to fix it. Ricardo Lara is not the person for this job. He has chosen to continue to ignore the issues and as a result of his incompetence and shocking ineptitude, it has now become a crisis that has developed under his watch; he is responsible for this problem and for fixing it and has done nothing, made zero proposals and offered zero solutions. This is gross negligence!! IMPEACH HIM. He doesn’t deserve to be commissioner and isn’t equipped to handle the job

[@jameshepburn4631]

I have no doubt Lara got the plum job by reason of ethnicity, not for being qualified or competent. He fits right in with the many other Newsom and Biden “diversity “ or “equity” hires who are as useful as an ashtray on a motorcycle and typically dumber.

[@detcordxxxi]

My homeowner's doubled and my car insurance tripled this year. Because of rate hikes. $200 more per month on my mortgage (impounded) and $500 a month increase on my auto. I cannot afford to just "suck up" $700.00 a month in mandatory expenses like this.

[@SFPhilo]

Did you know that if a Tesla' battery pack is damaged in an accident, some companies will total the car instead of fixing it. It's cheaper for them and faster for the owner to move on and get another car.

[@alexi2460]

Keep covering this issue.

[@IdeasDontBounce]

Welcome to the Hotel California, literally. 😂

[@boycott2720]

Florida is worse.

[@Mac-po1sr]

Hotel California? We get to bang hookers and smoke weed. You can do that pretty much anywhere.

[@keikei3301]

Red states are worse off bc they even have less capital to manage the problem and can’t offer subsidies or incentives for insurance companies to stay let alone redirect funds to insure their own residents under a state funded insurance policy. Republican states are also being owned by private equity firms. Very few residents in these states are homeowners and most are renters. This is true in all red states and will be soon of the rest of the country if the government doesn’t step in and put a stop to corporations buying up all the property in not just a suburb or city but the entire state

[@23vicjoe]

@@boycott2720 UNDERSTATEMENT!

[@unebonnevie]

There is NO law in CA that requires you to have a home insurance, unless you have a mortgage, which the lender, a.k.a., the demonic bank, forces you to have home insurance to protect their asset, a.k.a., "your home." As long as you have a mortgage, the bank owns your house, and you get to pay interests from the mortgage, as well as home insurance, property tax, maintenance costs, and any financial loss and liability that you may incur, e.g., someone suing you from falling on your driveway, etc. Insurance buys you a sense of security.

[@waddupdoe]

How many people got 770k to pay cash for a house? Insurance is needed if an average person wants to have a shot at ever owning a home. If you made 70k a year and spent 0 of that for 10 years, you still couldn't pay cash.

[@wanaraz]

You can pay cash for your house and not have to worry about all that.

[@atomicboy8972]

"someone suing you from falling on your driveway", that brings in another problem, the lawyers, for land you don't own, you rent, its called taxes.

[@Athea34]

The house in California is too damm expensive 1 millions and above of course you are going to have a MORTGAGE

[@wanaraz]

@@atomicboy8972 You own the land but taxes are needed. I don't have to explain why to an adult do I?

[@jocelynrucker6877]

This is the problem with California. If you raise the costs of doing business & the business owners can’t pass on the costs…the owners WILL LEAVE! It’s called capital flight!

[@frankmacleod2565]

It's not just happening in California. Same thing is happening in Florida and other states

[@DicksonMaimouth]

This is the problem with corporate greed and lack of fiscal responsibility by corporations.

[@magnus08f250]

@@DicksonMaimouthno it’s government greed

[@DicksonMaimouth]

@@magnus08f250 😂 How dafuq did you arrive at the idiotic conclusion of government greed when it’s corporations who control the costs? Government doesn’t run those corporations. That would be socialism. This is purely capitalism at play.

[@alvilla701]

​@@frankmacleod2565actually, it is worst in Florida and other red states than in California

[@jasjas-rm9kc]

I’m not sure how people can affect to buy houses in California these days. Not only are the houses overpriced, by the time you pay taxes and insurance and utilities, it really adds up.

[@sightlocs349]

That’s exactly what they want. It’s an agenda

[@danam579]

What nobody realizes is that you are competing with people from all over the pacific rim with tons of US dollars which they are desperate to get out of whatever totalitarian state they live in. They all Saint their only chance to protect their wealth is to buy property in the United States. That’s a big portion of what’s driving up prices.

[@freshtapcoke]

“I jumped off the Empire State Building 70 floors ago and everything’s been going just fine, just fine.”

[@brandonn.1275]

At this point Californians will need to set up insured owned insurance cooperatives so that people can keep their coverage, it's a much better option than conventional private insurance as insurance co-ops don't have a profit motive but rather a financial sustainability motive for it's members.

[@allanperry7859]

Tell Governor Newsome to do his job. I have lived in California my entire life. I have never seen so much fuel in our State. No maintenance. Get rid of Insurance Commissioner that limits amount of insurers available

[@Gcanno]

Florida and many other states republican and democrat States are in the same situation , place your anger where it belongs at the congressional politicians that enable these greedy corporations . people are to busy fighting over shit that doesn't mean anything while they steal your lunch.

[@neilkurzman4907]

Did you ever think the issue was those houses shouldn’t have been built in an area prone to fire? Just like Florida built homes in areas prone to flooding and hurricane damage. Both states tried to transfer that risk to the insurance companies instead of the homeowners that built there.

[@japrogramer]

Imagine what insurance companies know about Florida

[@starcatcher3691]

The hurricanes have gone up to around 72 a year

[@LesterSuggs]

Farmers Insurance just backed out of Florida

[@eng3d]

Florida men live in Florida, so then insurance companies are scared

[@shel1102]

Lol imagine hating on Florida when you live in the dump that is California.

[@jordanslingluff287]

Florida has private and public home insurance to my knowledge.

[@ronswansonsdog2833]

This happened to us in El Dorado county. It’s a panicky feeling to get a letter from your homeowners insurer stating they’re going to drop you. Luckily, once we sent in the photos proving our fire defense they reinstated our policy. However, in the time between getting the threatening letter and sending in the pics I shopped around just in case- *not one company would take us once they heard we were in a brush fire zone.* I’m sorry, I feel like most Californians are in a brush fire zone. 🤷‍♀️

[@casey896]

How is that? Everything and everyone east of Cameron park is forced onto the fair plan. Even in the burnt caldor fire scar I’ve heard they don’t cut anyone any breaks. Total scam

[@annhutcheson5770]

We survived (by literally 10 minutes) a catastrophic “wildfire”. Lost every single thing on the lot. Home. Contents. Vehicles. Tools. Post fire we were forced to be on the “California Fair Plan” for fire insurance for our new home in a different county, 200 miles north from the burned property. Believe me, there isn’t anything Fair about it. Obscenely high premiums for wildfire alone. Then Farmer’s for the basic homeowner’s policy. Totals about $9000 a year for property insurance. Not including cars ($1400) . Not including medical ($21,600). All of this on a fixed income. Incidentally - the California Fair Plan consists of all the big insurers grouping together, accumulating a big pot of money to address wildfire claims *TOGETHER*, while their individual companies drop us like stinky cheese forcing us to obtain a California Fair Plan Policy. Talk about a racket to use and abuse people, many of which have already experienced horrific catastrophic loss. What a corrupt world, with absolutely no one in position of leadership who cares about right and wrong and protecting our interests, via the creation of protective legislation.

[@wanaraz]

@@annhutcheson5770 Insure yourself. Problem solved.

[@DBat-sp1tp]

We received a letter last month too. We live in Redding. There is some brush near our property but we have it cleared twice a year. Also the city of redding has a goat program that goes around the city and they eat up the dry grass. They come in for a week and are placed in the preserve area behind our property.

[@Fish_Ventura]

@@annhutcheson5770help me out here. You house burned to the ground, in 10 min, they had to pay you off, and now a rate hike seems extreme?

[@bootsarmstrong8421]

They should stop building homes in areas that are prone to wild fires and other disasters.

[@Mac-po1sr]

Yup

[@thebigballer2434]

where would that be exactly? there isn't one inch of land on earth that isn't prone to some type of disaster or crazy weather events

[@radolfkalis4041]

Wildfires are so bad because the US had a zero tolerance for any wildfire, they were put out asap. Nature needs wildfires to clear out deadfall. This policy has resulted in excessive buildup of dry dead plant matter, resulting in devastating fires when it finally goes up. Add onto that Cali' s Rulers mismanaging the infrastructure, this is what you get.

[@evoluxsion7339]

And idiots should stop buying in disaster prone areas. I'd never buy a home in stupid California where you get hit by earthquakes, flooding, landslides, tornadoes, wildfires, and vandalism, not to mention homeless people loitering, taking a dump in your sidewalk, and devaluing your neighborhood.

[@sugarshaker9162]

Of course San Francisco or San Diego or Sacramento or any other areas where crime and homelessness are rampant due to leftist Liberal Mayors and Governor Newsom and since he was almost recalled isn't it crazy how we can breathe the air during summer again because there's not wildfires anymore they just miraculously went away when he was almost recalled over the forest fires makes you stop and think hopefully

[@UnskilledGrappler]

I’m definitely leaving the state when I retire. Can’t stand how everything across-the-board seems to be moving in the wrong direction, and the people in charge of fixing it are so attached to their beliefs that they can’t see how they are ruining everything.

[@lewisjulian0830]

Remember the motto of THE WORLD ECONOMIC FORUM. YOU WILL OWN NOTHING, WILL HAVE NO PRIVACY AND BE HAPPY. ANY questions, you also know that the banks can foreclosure your property, if you have no home owners insurance.

[@ryanbarker5217]

this is scary for the rest of us in real america.

[@killmonger4169]

True! It will spread to central sadly soon enough 😢

[@DG-uh8uv]

California is real America.

[@Electronzap]

Sooner you get out of California. The better.

[@nicholasthompson7690]

I'd never live in Ca and I have family there

[@jeffmorse645]

I live in Butte County, but in the city limits of one of its towns. My home is in a "moderate" fire danger area whereas many in the state are in a high or very high fire danger zone. As a result the policy that cost me $700 when I bought my house in 2010 is now $1,100 a year. I feel that's a reasonable amount to go up over 13 years considering the value of the home has more than doubled. I guess the moral of the story is don't buy property in a fire hazard area. When I was shopping for a home I considered Paradise because it was pretty and cooler than here in the the Sacramento Valley. I always had a feeling though that it was a disaster waiting to happen... and 8 years later it did. Glad I decided to play it safe(r).

[@Ellis1127]

Such a great example of why you need insurance, everyone can’t be or afford to be “self insured.”

[@toplarry]

Thank your neighbors. I'm sure they paid for your loss.

[@jeffmorse645]

@@toplarry I didn't lose anything. Slow down when you read a post.

[@Bosco-knows-all]

But just about EVERYWHERE in CA is now a "high risk fire zone"....

[@TOBYH]

AND IF YOUR HOME BURNS DOWN, DON'T REBUILD ON THE SAME PLOT.

[@kerrymartinez4463]

It’s a funny thing that our Governor stands idly by as our state burned, screaming about climate change. And glibly says housing is an issue I take responsibility while doing absolutely nothing to stop the decline of SF and loss of not only the beautiful city, but the jobs and tax revenue from corporations and citizens leaving. It’s funny how ppl say just move - when we can’t sell or our homes are adjacent to homeless encampments. Besides I’m not being pushed out of my beautiful beloved home state because of our liberal government. If your answer is to laugh at us, while we are being followed home attacked, Robbed having our vehicles damaged and no longer able to conduct our day to day lives because of rampant crime. Many people are old and living in fixed incomes with no means to just pack up their house and drive away. If Newsom were to become president I guarantee you wouldn’t be laughing.

[@valdivia1234567]

He's busy putting more gel in his hair.

[@skeeterm2162]

He’s too busy whitening his teeth for his Cheshire grin.

[@TheUncommonShaman]

Climate change was warmings from GOD. It’s over. The pole shift was months ago.

[@Mac-po1sr]

I would vote for him for president and I have lived in California for 37 years.

[@lescobrandon9693]

@@Mac-po1srthanks mom. Newsome.

[@danielwoolman8969]

My car insurance went up this year by 40% for no reason

[@jkbc]

let them get out of the state and never let them come back and see if they survive with limited businesses. Insurance has always been a legalized scammer

[@sl123sl]

i don't think insurance per se is...ot's the phony claims and asscociated legal fees

[@lingra1438]

INSURANCE COMPANY ARE FULL OF SHIT. I AM 68 DO NOT FILE CLAIMS AND MINE KEEP GOING UP NO ACCIDENTS NO TICKETS.

[@ronswansonsdog2833]

@@sl123slI agree with OP-insurance companies are 💯 scams. Billions of dollars in their coffers while your premiums continue to increase, and you have fight like hell to get a claim paid.

[@teylarmadebeauty4778]

It will be better for them. If the ratio of income to loss is to high, it’s more beneficial to them to leave.

[@djc7039]

"let them get out of the state" sounds like a great solution to the problem ----- they are leaving the state

[@emolasher]

Vote for politicians that make it unprofitable to operate in Califorina. Companies stop offering their services and leave. Politicians even go so far to pass laws where you are fined for leaving Californa, and will come after you for leaving before the law was even passed. You voted for this situation.. everything bad that is happening in Californa you've voted for one way or another.

[@titaniumsandwedge]

Insurance companies provide a service for a fee. If losses are high due to losses, they will raise their fees. If communities don't allow fees to be raised, insurance companies will stop providing their service. This should be simple to understand.

[@nedtaylor1983]

You must work for an insurance company.

[@titaniumsandwedge]

@@nedtaylor1983 It's only the dumbos of the world who don't understand this. They feel entitled to low cost insurance for some reason.

[@titaniumsandwedge]

@@Stark-ek7mh You are going to pay for someone else's disaster. That is the way insurance works. Look at casinos. They gamble every day with the odds slightly in their favor. If they pay out too much, they change the odds more in their favor.

[@JohnSmith-js3po]

My insurance went up 78% what a crock of crap and I have a wild fire policy that cost me 2500 a year plus the other policy for water and other fire damage WTF I’m just going to pay off my house and live without insurance

[@coreytrevor1311]

The “golden shower state” ain’t lookin too golden anymore.

[@harlock75]

You do know this is happening in other states like Florida, right? I guess you have the same kink as trump.

[@propblast82nd]

@@harlock75not happening in Texas

[@23cla69]

@@propblast82nd what are you talking about. Insurance is increasing in the gulf states because of hurricanes and flooding. Stop lying. Insurance companies are going to abandon these markets very soon. If you live near fires, hurricanes, tornados, flooding, etc., you will not escape.

[@Mike__B]

@@propblast82nd Not in Texas... nah, there's still a good enough profit margin to be had in Texas, so insurance companies are just raising rates across the board.

[@propblast82nd]

@@Mike__B mine hasn’t changed

[@itchytrigger]

Proposition 103 passed in 1988 requiring insurance companies to ask the department of insurance for a rate increase. In California insurance companies cannot increase more than 6.8% per year. These companies can’t raise their rates fast enough to stay afloat. This all happened 3 decades ago yet blame newsom lol

[@DerekVuong7799]

it was all okay until newsome became governor and stopped enforcing laws, and when biden became president and raised the cost of living due to similar bad polices as Newsome. If this happened 3 decades ago why are insurance barely pulling out now?

[@juanlrico5771]

I will look into this, just received my renewal and the increased is about 30%.

[@TVHouseHistorian]

In all fairness though, nearly everything bad that’s happening right now in California is Newsome’s fault.

[@MrDdub619]

They can blame Newsom all they want. I dont want to get what happened in Florida. Florida had to Socialize Home insurance. Cause the market is too damn high and insurance companies are leaving. You dont want to hear those stories.

[@Clownlife432]

You’re right, Newsom didn’t pass the law, but it’s type of policy Newsom would be for is the problem. It is a mainstream democrat position to over regulate everything. Remove the laws, let the market figure it out. If they are truly charging an outrageous price, someone will come in and undercut them. It always happens.

[@pullingthestrings5233]

California is landfill 😂 so glad i left that dump

[@pullingthestrings5233]

@@Rest323 🤣 bums everywhere and greedy politicians. No thanks keep your "golden state"

[@keikei3301]

Lol don’t lie, you left bc you’re poor and can’t afford it. You failed in Cali and were gonna be another homeless statistic if you didn’t leave, so it wasn’t a choice, stop lying to yourself. Don’t be embarrassed that you were booted from the state with your tail between your legs and head hanging in shame 😂😂😂😂😂😂😂💀💀💀💀💀💀

[@jeretso]

Government price controls means businesses will leave and invest somewhere else.

[@sblijheid]

The government "helps" it's citizens by preventing insurance companies from hiking rates. Now they're worried that people don't have insurance. It's a business, they're there to make money. If they can't they close up shop. The worst part is that guy doubling down even though he knows the adverse effect of the rule.

[@dianev6180]

We cannot continue to expect private & publicly-held companies to rebuild after every natural disaster due to increased severity & frequency. Hurricane coverance, unlike Flood & Earthquake coverages is not covered by the Federal government. Add in rampant fraud and excessive litigation, the difficulty in reaching actuarially sound rates and incurring a disaster somewhere in the country on any given day it's a wonder they haven't all fled or failed.

[@Mike__B]

Yup, remember insurance companies are not charities, they are there SOLELY to make money and the way they make money is by having you pay for a service that you do not need, as soon as lots of people need to use that service their ability to make money goes away and takes away money they previously made. So they're going to stop insuring properties that don't have a higher percentage of return on their investment.

[@dianev6180]

@@Mike__B like any corporation, shareholders revolt if they don't make $. Fraud & excessive litigation have brought the industry to its knees, climate change may be something we could rate correctly but never fraud, which takes about 71% of the premiums in Florida. Carriers look backwards at past claims to determine future risk so you are correct, they aren't going to keep properties that continually lose $. Fraud follows disasters so areas disaster prone are going to be the first places to spot trends which cause carriers to blink. FL is textbook, one fraudulent claim can shape the direction for future contracts and coverages. No shareholder is going to stay invested nor new capital raised in a regulated industry being legally robbed by Harvard graduates saying they are for the people. A lot of people have lost jobs over the mess FL has made of the industry because lawyers also run the state house. I don't suppose you get any of this because to you, all carriers are fat happy bastards flying into space with their profits.

[@00leaveralone]

Oh, I see, so the Air Force can own & engineer the weather by 2025 for the benefit of speculators, banks & corporations, but tell then they tell homeowners to bend over, then get the F out of californication. They are slaughtering dairy cows right now to reduce livestock carbon footprint. Hahahahaha. Greed run amok and the veneer of the ‘civil society’ gone overnight. I kinda feel bad for the old timers from the working class. They were sold on the concept of retirement.

[@darwinjina]

its almost as if we have some leadership missing in our politicians to resolve it

[@mitch_the_-itch]

The Communists are getting Commiefornia Communism good and hard.

[@mkgreen9750]

Stop building with wood and asphalt shingles for a start.

[@bubpori5105]

Sounds like Auto Will be Next !

[@deplorablecovfefe9489]

They want $1500 @year for my 30K house, they refuse to insure it for any less than a min. 4 times the actual value. Its basically a endless 20-year mortgage you pay to the insurance company, buying them an identical house as yours every 20 years... Only thing that will ever happen to this 100 yr old house is a tree falling on the garage. In the 5 years I haven't bought "insurance" I've saved enough to replace that garage already. And I wont have to "ask" anybody if they would "Pretty Please", pay the damages that they promised when they took my money over and over again...

[@SigXman]

This is what happens when Govt interferes with the market. If they would’ve kept their noses out of it at least they’ll still be coverage for everyone. Ca is a high fire danger State so it makes sense for the people living there to pay a bit higher for coverage. Insurance companies have to turn a profit. I don’t know of any business who isn’t trying to make a profit. Good luck shopping for whatever you can find. It isn’t going to be easy. So glad I moved out 13 yrs ago.

[@danam579]

The risk of catastrophic damage from fire and floods in California is, on average 5 to 10 times higher than states in the flyover. It’s not a “Bit “it’s huge. It’s so high, That selling property insurance in the state is guaranteed bankruptcy for a carrier

[@danielcobbins8861]

State governments require insurance, of all kinds, which means insurance companies can charge anything they want for their services. Some governments do put caps on from time to time, but inflation pressures eventually overcome regulations. If the laws were repealed, we would see competition, and lower prices, but for now, the powers that be won't allow it.

[@michaelb4546]

Cure for high prices is high prices. They will return once home prices drop enough that the premiums they can collect can cover the replacement cost.

[@andrewmunz4443]

If the bank requires you to have insurance, and the insurance companies give you the middle finger, the bank should be liable to eat the mort payment and interest until they solve the problem

[@deepblue523fl]

The homeowner is the one that takes that risk. There's risks of being a homeowner over a renter.

[@1donniekak]

If the regulatory structure of your state has every company wanting to leave you should consider voting in a structure that works.

[@secrets.295]

You are the one who took the risk by applying for the loan. Don't blame the bank, blame yourself. Lol. You know what u sign up for, so why complain?

[@sightlocs349]

Can’t wait till it’s the banks and insurance companies that start getting burned down

[@h5mind373]

The bank will also happily give you the middle finger by foreclosing on your home if you refuse to carry insurance on 'their' asset.

[@johnsohc]

Thanks Newsom!! 🤬

[@ryanperalta7358]

My home insurance went from $1,100 per year to $6000. About to lose my home and my life savings...

[@aFreakingAmerican]

Keep voting Dem

[@Bikes_N_Adventure]

Life savings?!!!?

[@neilkurzman4907]

@@aFreakingAmerican Florida’s got the exact same problem. Maybe they should stop voting Republican.

[@luissolano101]

Same thing happen to me What part of CA are you in Here in socal home insurance went through the roof

[@aFreakingAmerican]

@@neilkurzman4907 *Libertarian here..! You'll learn soon enough

[@hopefloats7573]

Wait, Insurance companies buy insurance from unregulated companies? Why not regulate or ban this practice?

[@2011blueman]

If you banned reinsurance you'd have no insurance companies in California or Florida because they'd go bankrupt anytime there is a big fire or a hurricane. Reinsurance is all about hedging the risk to insurance companies. The big players in reinsurance are companies like Llyod's of London and Berkshire Hathaway that are able to spread the risk over much larger and less concentrated insurance pools.

[@amythomspon956]

The re insure are regulated federally. The biggest one is warren buffet.

[@SFPhilo]

@@amythomspon956 The Euros have bigger ones, but WB/BH is the biggest US based.

[@amythomspon956]

@@SFPhilo I stand corrected. Thanks

[@casienwhey]

Its a funny thing that when you don't let a business charge enough money to cover their cost and make a profit, they have a habit of leaving.

[@jessea3165]

That's why insurance should be a government function. no need to make profits.

[@bk9696338]

Obamacare on home insurance and gun insurance . Problem solved. Everyone has an affordable gun and home. 😂

[@rickjames4031]

⁠@@jessea3165what state and country do you live in? Our California government and politicians are the only ones that financially profit off our taxes.

[@happytimeharry363]

@casienwhey,...either you didn't watch the video, or you missed the point entirely.

[@megaflux7144]

the state is also wall to wall disasters throughout history..

[@bluedoggum8373]

So let’s get this straight. They make their money for decades, some storms hit and they have to actually pay something out (what insurance is for), and then they high tail it or raise rates. Clown world.

[@Jackofbladesdude]

pretty much. Welcome to the "Global Reset"

[@lofimusicbygrizzlybeatz]

On today’s episode of “You Get What You Vote For”

[@mikeprice4103]

Did you think of that comment all by yourself or did fox help you?

[@martinburns7928]

thumbs up, may be the best comment yet, and time is ticking off!

[@EdgarMartinez-wf4xr]

Like a good neighbor, State Farm IS NOT THERE! 😊

[@carbo2950]

Imagine a world that did not run on credit.

[@jordanslingluff287]

The stone age.

[@lolcatjunior]

@@jordanslingluff287 In the stone age there was no such thing as borders, people were free to go where they pleased without being deported.

[@jordanslingluff287]

@@lolcatjunior That's sounds like a world that wouldn't have credit.

[@deplorablecovfefe9489]

How do the insurance companies stay in business with their outrageous rates? Banks force borrowers to get insurance no matter how much it costs.

[@Spartanishous]

Time for people to sue insurance companies I guess.

[@TheUncommonShaman]

It’s the apocalypse. Good luck. 🤣😂🤣👋🌍⚖️🪦🔥

[@didforlove]

@@TheUncommonShaman exactly this is the apocalypse

[@Itsgoooonenooowwww]

I am concerned with the amount of time it will take to be implemented to auto insurance for California residents. I bet all insurance is going to be questioned and sky rocket cost in California

[@roamingmillennial2200]

I am an insurance adjuster... Claim frequency and severity is going up like crazy recently. All of the fires have eaten into the 5% margins that most insurance providers operate off of. They'll simply pull out of the state if they can't make a profit leaving the state to provide insurance instead. The problem is that the state will have to raise taxes to account for the increase in losses.

[@stevewest6133]

Would it be off-track to say that insane real estate inflation is mostly responsible, but wildfire risk is more palatable, more visible for the public, and thus is getting the blame? I live in Kern County. Metropolitan Bakersfield, has 95% of the population and 0% of the wildfires. The mountain and foothill communities are mostly uninsurable and have been for years. We do see quite a few urban building fires, mostly janky, abandoned commercial buildings, that result in huge cash payouts for the RE investors.

[@roamingmillennial2200]

@@stevewest6133 high costs plus fires and now flooding in different areas.

[@donniegrande9186]

My home insurance is from Los Bukis they're great!

[@Wickedclownx33]

Insurance is just a scam. For cars and homes.

[@wanaraz]

You don't have to buy insurance. Insure yourself.

[@richatlarge462]

​@@wanarazYou do have to buy insurance if you have a mortgage and if you have a car.

[@wanaraz]

@@richatlarge462 you have the option of buying a house for cash. And if you have enough money you don't have to buy car ins.

[@TOBYH]

HOW MANY YEARS HAVE WE PAID HIGH RATES FOR ALL THE HURRICANES IN FLORIDA AND OTHER STATES? HURRICANE FLATTENS THE HOME, JUST REBUILD ON THE SAME LOT, THANKS, FOR HOW MANY YEARS HAVE WE PAID? I HAVE PAID HOMEOWNERS INSURANCE SINCE 1970 WITH JUST A FEW CLAIMS, HOW MUCH HAVE I PAID TO COVER THE CLAIMS ON OTHER PEOPLES HOMES?

[@matreyles]

Wth is re-insurance?

[@taryntaryn9090]

Something made up just for CA lol

[@bootsarmstrong8421]

Special insurance companies that share a percentage of the insurance risk. Usually needed on high value properties so the primary insurer won't suffer a huge loss if there is a large claim ie $3,000,000 home burns to the ground. The re-insured would cover their percentage of that loss.

[@v1-vr-rotatev2-vy_vx31]

More corporate corruption

[@luckydawg7176]

I’m glad I decided not to move to California 10 years ago .

[@raybar7360]

as a native Californian..thanks

[@oscarrlee18]

It’s gonna happen everywhere simpleton. It’s going on in florida now and New York

[@Violet-uh9fj]

The American dream has become the American nightmare.

[@sightlocs349]

The land of the free to the land of the fee

[@nameuser4406]

Legalizing stealing has a domino effect.

[@pnutt2532]

So what happens to all the $$$ they have already paid into the policy ??? The insurance can just keep the $$$ , and then just cancel ????

[@taryntaryn9090]

Well of course. That's the American way. Silly. Yet another reason to leave CA, as if we needed another one. The hits just keep coming.

[@SFPhilo]

Insurance is a risk or gambling pool. You and nine other buddies pitch in $100 each = $1000 every year. Say one of them gets chopped and it costs $250 patch him up; every body is still ahead $750. Say next year you all pitch in another $100x10, now you have $1750. Now somebody gets wacked and it costs $5000 to patch them up, you'se now in the hole for $3250. Whose gonna pay the $3250 when you can only put in $100x10 a year?

[@pnutt2532]

@@SFPhilo well I guess its becoming just like the credit card game . You know the one where they decide to lower you credit line , if u don't use it right away.....

[@epursimuove1633]

Premiums only cover you for the year. You've already gotten the benefit of the premiums you've paid regardless of whether you've had an event or not. That's how insurance works.

[@bkwil6078]

Gavin new scum is too busy trying to take guns away from law abiding citizens he doesn't have time to deal with you pesky citizens and your insurance issues

[@imstevemcqueen]

We need new politicians from new parties that represent citizens not corporations

[@RideWNC]

This is great news! Californiastan keeps getting what they voted for.

[@moorefacts6605]

Flurida too

[@barrymccaulkiner7092]

Insurance company Priority #1: Find *any* reason to not pay the claim.

[@roadracerdave7645]

it's time to collectively cancel insurance companies. why give them the power?

[@dannymcguire3623]

Exactly. Scam artists.

[@wanaraz]

No one has to buy insurance if they do not want. Just cover it yourself.

[@chookchack]

So buy your house and cars cash. Who’s paying them if you burn or crash? Im not against paying cash but collectively you said? Not in reality dude.

[@2011blueman]

@@wanaraz You do have to buy insurance if you want to drive a car or own a home with a mortgage, or as is often the case even rent an apartment.

[@stephanie1210]

My car insurance went up 60%

[@matthewjoseph4508]

It honestly sounds like Prop 303 should be updated to allow insurance companies to increase rates a certain percentage every year to make up for the loss from reinsurance(the same thing should be happening with wages and inflation but I digress)

[@justinwahip]

only would do that if you cap the profits they can make and pay out. PG&E destroyed homes, they will just increase rates pass the issue to customer and still rake in profits

[@Rhaspun]

@@justinwahip PG&E loves to hand fat bonuses to their executives. They weren't spending money the money on required maintenance but they were paying out bonuses.

[@SFPhilo]

All rate changes, up or down, are required to be reviewed and approved by the Ins. Commissioner. Anything 7% and above needs a public hearing. The compromise with prior commissioners was that for increases to be approved there's a offsetting rate decrease in another area. 'cept now the cost of stuff is so high there's no place to reduce rates. Plus this commissioner refuses to look at an rate change except down.

[@Me97202]

The odds have usually favored the insurance companies. They want to keep it that way.

[@dontbanmebrodontbanme5403]

I program for a living and many years ago, I worked for a consulting company that did a job for one of the largest reinsurance companies in the world (there are only a few of them). Before that, I never even knew "reinsurance" companies were a thing! I learned that you can take out insurance on things you don't even own. For example, let's say you own an ice cream shop and your friend is a meteorologist and feels this summer is going to be colder than normal. Well you can take out insurance so that if the temperature average for a period of time is lower than a certain level, you get paid out. The crazy part is you can take out that insurance even if you don't own the ice cream shop!

[@ThePixel-Man]

Hmm…. Yeah that’s just CALLS and PUTS. Basic options trading…….

[@anthonyemmm]

Wow that’s insane! Goes to show that this whole thing is a game. Only those who know are gaming the system on all levels. That’s how the rich stay rich.

[@louisc.gasper7588]

Okay, name the company that will insure against something you have no stake in. I think you're full of it.

[@2011blueman]

You can now make bets on things like that as a retail investor too on platforms like Kalshi. My favorite bet right now is the number of tropical storms in the Atlantic in 2023.

[@gregh7457]

@@louisc.gasper7588 any brokerage trading firm will let you do naked shorts on stock you don't own. that's just one example there are many more

[@rockyBalboa6699]

Too bad, Now you can't even set your homes on fire for that Insurance claim!!

[@mikeg5365]

Take away the insurance. The state has enough money to get there own state - funded home insurance requiring each homeowner to buy. It will be like Obamacare for california homes .

[@lHurtYourFeeIings]

That is until you posted something on Facebook against the Democrats and your home insurance get cancelled by the state. Believe me the Dems will do this to control you, look at all the blacks in poverty.

[@LoanwordEggcorn]

California's state government is highly corrupt and bankrupt. Do you really think they would provide good insurance? Also Gavin Newsom took millions of dollars of soft money from Pacific Gas and Electric and Southern California Edison in exchange for a sweetheart deal that got them out of most of their liability from causing the wildfires that killed many people and burned hundreds of homes. What makes you think his insurance service would be any better for the consumer than the utility companies he takes millions of dollars in bribes from?

[@violent_bebop9687]

LOL, state of CA will find out quick it's a losing game.

[@pnutt2532]

I think you are on to something Mike!!!!

[@SFPhilo]

It's called the FAIR Plan, the insurance companies fund it, but the Insurance Dept runs it.

[@aristotlekumpis7095]

Who's going to want to buy a home in the golden state when insurance is double what it is now? Insane.

[@rhenry7369]

You can say the same thing about real estate taxes. They have gone up tremendously and will continue to do so.

[@bigcockedman714]

@@rhenry7369 california home taxes will hit 5% in 10 year watch.

[@Richard-od7yd]

If insurance companies don't cover everyone than they aren't insurance companies they're Gambling Houses

[@jeffjohnson5053]

American home buyers are VERY ARROGANT, they purposely and willfully want to buy homes in fire areas, like near dry grasses, mountains, dry areas, no trees, dry hills. You see this everywhere you go in Any state and especially in California. Of course there is alot of fires. I don't blame the insurance companies for NOT wanting to insure these homes. They got what the deserve!!

[@thebigmon]

By it's nature insurance companies are gambling houses. They are gambling that they can make money and not go broke by insuring you. California is a bad bet so they are walking out the door. Just like that Kenny Rogers song "The gambler".

[@pegefounder]

00:58 what terrible shanties. They even produce no electricity.

[@CourageUnderFire87]

It’s as if the powers at be are making it difficult to own a home. Pretty soon owning a home will be a complete luxury. People are being forced to live in apartments pretty much where the have no choice but to be subjected to high rents. This is freaking America.

[@boostedmaniac]

No this is freaking CA. Unmanaged forests because of environmentalists saying no to cutting down and thinning the forest has led to these huge wildfires that out a huge strain on insurance companies.

[@CourageUnderFire87]

@@boostedmaniac It’s everywhere. Don’t be fooled.

[@nuance9000]

​@@boostedmaniacWhat! Environmentalists? Really!? The US Forest service put out every fire during the last ~70 years as part of it's policy. Nothing to do with "protect the trees." But I guess these days Teddy Roosevelt was a Democrat 😂😮😢

[@keikei3301]

Ricardo Lara is California’s insurance commissioner. Vote him out. He is responsible for finding a solution to this problem but he hasn’t done a thing but ignore this crisis and it’s only worsening due to his inaction. Call his office, bombard his social media accounts until he actually gives this growing problem the attention it deserves and does his job to fix these issues that are not only just affecting but also hurting California homeowners and residents. This is a massive problem that needs a leader with the experience and skills to fix it. Unfortunately, Ricardo Lara is not the person for this job. He has repeatedly chosen to ignore the issues and as a result of his incompetence and shocking ineptitude, it has now become a crisis that has developed under his watch; he is responsible for this problem and for fixing it and has done nothing, made zero proposals and offered zero solutions. This is gross negligence!! IMPEACH HIM. He doesn’t deserve to be commissioner and isn’t equipped to handle the job.

[@boostedmaniac]

@@nuance9000 google “sacbee rogue environmentalist put Californians in harms way” or you can google “LOCAL ENVIRONMENTAL ACTIVIST OUTRAGED AS PG&E CUTS TREES IN HUMBOLDT REDWOODS STATE PARK”

[@Manis-World]

It’s a big issue everywhere. I live in West Texas and my homeowners insurance jumped 30% since last year

[@bensonyau2302]

Insurance companies make so much money that they lend monies to banks as part of their investment portfolios.

[@rack9458]

Well yes, those "profits" are reserves for future losses.

[@nuance9000]

Insurance itself is a financial product 🤔

[@sidearmsalpha]

My car insurance company just cancelled my insurance for no good reason. I hear lots of people in California are suddenly having their car insurance cancelled.

[@alexanderwilson1246]

The Insurance companies in Cali make so much profits per quarter its ridiculous

[@AuxiliaryPanther]

Source? California Insider just did a piece about the opposite being true. CA has an elected official that can cap insurance rates, which has been hurting companies.

[@paulyg1741]

Sure, they're making so much "profits", most have decided to stop doing business in Cali. Please don't reproduce

[@DSC800]

I'd like to see: 1. Insurance with very high deductibles, now it is $5k, or some have $10k. If we could have $20k, $25k or more, even a $50k deductible this would allow the homeowner to manage their own risks like roof replacement and many structural repairs, etc. Ins companies would only worry about major events and home owners would more careful including how money is spent on repairs/replacement. 2. Separate out liability from home ownership. It's not easy to just go out and get personal liability. Instead of having to buy an umbrella on top of your current policy, just sell liability on it's own.

[@MannyMaurice5348]

Agreed, because most fraud is related to putting on new roofs.

[@DSC800]

@@MannyMaurice5348 Exactly. Similar to: a friend of my wife had a kitchen pipe burst and ruin the cabinetry. Their claim is $15k for upgraded cabinets plus new granite counter when it was particle board & tile before. If it was their money they'd spend half. I hope their premiums go up.

[@mikehascats26]

DSC, both things exist already

[@DSC800]

@@mikehascats26 Where and for what level of wealth? Available but not easy, or less cost? Go to Mercury (my current ins), Geico, Progressive, etc and the options are cookie cutter, comparible packages, none exceeding $10k deductibles and usually $1MM max liability without adding an umbrella. Again, very standardized plus they don't separate pers liability from home ownership or rental. When I last looked into it there are more options available for the wealthy with multi-million dollar homes, high deductibles & liability limits.

[@kek3908]

It's nice to see that voting has consequences.

[@adamwonder9607]

demon dems lmao

[@Belenshares]

It doesn’t seem to matter as insurance companies are leaving both Dem and Rep states, California and Florida.

[@charliehustle9779]

@@BelensharesThese people just say anything.

[@killmonger4169]

@@adamwonder9607lol keep fighting each other 😂

[@afsoon542]

Sending 110 billion dollars to Ukraine as a gift, while increasing the insurance on US residents.

[@scifiguy810]

Perhaps insurance companies should be replaced by general fund coops that all homeowners in a state pay into. Insurance shouldn’t be for-profit. Climate change isn’t going away.

[@EQRuges]

Right after we ban housing in high risk areas

[@SC-pe9ir]

I live in Sonoma County. During the recent fires, I couldn't find info regarding fires in my 50-page Farmers policy. When I called, they told me that a claims adjuster will dictate what I'm insured for and what I'm not in the event of a claim🤨

[@jasonsmith1143]

people are still willing to pay $200k to $400k over asking price for a property in Danville San Ramon area i am sure they will pay what ever the insurance company charge them

[@tuber6382]

This is because in Danville or San Ramon there's a lack of brown and black people so you don't get robbed and die. You'd pay more to stay alive, no?

[@kerrymartinez4463]

This area is the epitome of financial diversity. There is a housing shortage and wealthy people a few miles from low income areas. Just because a person lives there doesn’t meant they are wealthy. It just means that they purchased their residence long ago. In the past one could sell and downsize when they retired. If you outright own and cash out, you can’t afford a condo in today’s market. I’m not going to be in an old western movie, burned out and forced out of my meaningful home, after decades of living here. Its nothing we did wrong as tax paying lifelong residents of CA. We work hard, we pay our dues. We are being screwed over by our government officials.

[@phoebelee55]

@@tuber6382… I lived in Vallejo and had to get out of that war zone due to what you are talking about.. moved to Green Valley in the County of Solano and it’s just beautiful over here

[@bihsaidwhatnow2392]

@@tuber6382 Really weird how you're bold with that racist lie you hold as truth. Stop the bull.

[@bihsaidwhatnow2392]

@@phoebelee55 You too Phoebelee55. Its really weird how you're bold with that racist lie. What damn war zone in Vallejo are you talking about besides the one the VPD created by killing it's black and brown citizens and then bending their badges? And last time I went to TJ Maxx, Green Valley, next to Solano Community College wasn't the Mayberry RFD-Leave-It-To-Beaver town. . .it too has it's crime problems and it has nothing to do with the black and brown people. Stop Lying-End Racist Shat.