Questions raised about the California insurance market's ability to hold

[@KungPowEnterFist]

The insurance companies hate this type of calamity, because there is no way to turn it around and blame the homeowner and not pay them.

[@Ma-sb4kc]

Don't worry, they'll find ways, they always do

[@thejeffinvade]

They already stopped providing fire insurance in the summer of 2024.

[@Ma-sb4kc]

@@thejeffinvade Ouch,, that sucks, but not surprising for the US to have things go this way

[@KungPowEnterFist]

@@Ma-sb4kc I'm sure you are right. In Florida insurance companies fly drones and take pictures of people's yards looking for clutter. If they see any, you'll get a cute little letter in the mail telling you your coverage will not be renewed at the end of the term.

[@inquisitvem6723]

If you ticked the last question by the host about pulling out of California, these two guys didn’t answer her directly. You know they’re gonna pull out once it’s all said and done.

[@EJH-jn6mo]

Time to get Newsom out

[@brucesmith9144]

They had that chance several years ago and it failed. The chickens have come home to roost.

[@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.

[@newmannewmanz7110]

People always get what they voted for, problem is they never learn

[@PelosiStockPortfolio]

Yes, people ignored warnings about climate change when voting and now we are getting worse natural disasters from Florida to California. Its too bad the climate change deniers cant see that

[@wallytangofoxtrot4721]

They even get what they didn’t vote for. Ask a Leftist mail in balloter.

[@royprovins7037]

Desalination plants should have been up and running 20 years ago

[@weirdshibainu]

The CCC won't even entertain the thought

[@SaraNa-t2l]

This shows the absolute and total stupidity (not strong enough a word) of the democrats who have a chokehold on this state. Los Angeles lives on an ocean and the fire hydrants had no water. Just no words to describe the morons. Why, it’s like it’s on PURPOSE!!

[@NoahSaintJames]

About 80% of California's mountain melt water just runs into the ocean. They don't need desalination plants, they need sane water management.

[@susanhess8396]

Why can’t the insurance company hold Bass and the head of the fire department partially responsible due to their bad decisions. Maybe they can successfully prove partially responsibility because of lack of water in the hydrants and more than 17 million dollar budget cuts and confiscation of equipment that went to Ukraine.

[@HulaShack1]

What about Florida? They have allowed the same crap to happen. I never had a claim on my home owners and yet they cancelled me and I had to scramble to find another carrier. Our rates are sky high and our car insurance is sky high because of illegals not carrying car insurance so we have to pick up that tab.

[@russellhaley6901]

I've read reports that many of the high end houses are not insured because the insurance companies discontinued their fire policies some years back. James Woods said he has no fire insurance.

[@jazzlegend]

So, am I correct in assuming that the people that had their insurance taken away, actually own their property outright? No lien holder would allow a homeowner to continue owning a home if there was a mortgage in place? Correct?

[@wallytangofoxtrot4721]

@@jazzlegend Very likely. Or high rate fly by night reinsurers which are worse than zero to the markets because that paper will domino into a lot of collateralized risk. Short version: EVERYONE’s rates will be going up even with Newscum creating more State debt insurance to try and salvage his political career.

[@lonecoyote5454]

@@jazzlegendcorrect, and if you don’t procure insurance yourself the lender will place it for you for probably 5x the cost. If you don’t pay still, they just add it to the loan.

[@matthewstott3493]

Most of the large home owner insurance companies cancelled fire coverage for these CA locations due to the extremely high risks. Actuaries (experts at statistics) do the hard math and determine the risk is too great. They started cancelling fire coverage 4 years ago. Only the wealthy can afford private insurance policies which will be very expensive, due to the risk. It's the same as having a beach front home in Florida and expecting the find flood insurance. Near impossible or so prohibitively expensive few could ever afford it. Insurance companies only have so much money. They would go bankrupt paying out these policies.

[@VincentLin-w2r]

Make sure you call Flo from Progressive.

[@75Southwind]

To get denied.

[@ArchieHwan]

I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love

[@Jackie-gr6wu]

We live in southern California. We lost all homeowner insurance company coverage just like our neighbors. We were forced to go to the California "Fair" Act. BS!! We pay 5 times, YES 5 times what we paid before!!! SCAM OR NOT???? Where is all this excess $$$ going?

[@Chair-x]

Ukraine

[@keyblade408]

Whats the ponit of having insurance then?

[@Joseph-k1i1i]

Thanks for the breakdown! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (mistake turkey blossom warfare blade until bachelor fall squeeze today flee guitar). How should I go about transferring them to Binance?

[@jvnb-y9e]

If insurance companies didn't have to pay out all the loss from vehicle theft and smash and grab property loss by a certain demographic, they would have plenty to pay for fire loss.

[@dthrust9037]

If Ronald Reagan and his voters weren’t so scared of a certain demographic of men using their 2nd amendment right during integration maybe folks in beach county could defend against criminals

[@FINFURN]

Bullish on Home Depot and bearish on insurance sector Play your bets

[@Lisa-qh9ry]

Oh, I think it’s a forgone conclusion that no one is going to underwrite any kind of policy in the state of California! It’s risk no insurance company is going to take!!!!

[@07ahedogallo]

If Bitcoin follows the same patterns it followed in the last cycles,we will have a 200k Bitcoin by the end of 2025.I think we can even have more than 200k because many catalysts will impact the crypto market in 2025:1-Central banks joining the Bitcoin bandwagon in January 2025,2-A new SEC commissioner will be nominated 3-More institutions will come to the market 4-A potential Crypto regulation will come out in 2025 5-FED lowering interest rates all year of 2025...never been a better time to be involved in the market........ I have managed to grow a nest egg of around 3b"tc to a decent 26B'tc in the space of a few months. Amidst this, the insights of a knowledgeable guide like that of Aria Cookings Crypto can be crucial. Her expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.

[@07ahedogallo]

Ariacookings… that’s her name on

[@07ahedogallo]

Aria Cookings program is widely available online

[@07ahedogallo]

The internet is filled with so many useful information about Aria Cookings crypto

[@ZoraidaMayapis]

The market is growing daily with new strategies and trading opportunities. Financial empowerment is our everyday chase and Aria Cookings, has proven to be a part of this mission.her strategy is the very best

[@panoxa2]

We steadfast believer in Aria Cookings. because she is always right on the money.

[@claudiabasola6147]

This is Lani all over again!

[@bobmech5006]

15 minutes could save you 15%

[@bobfleming7870]

How can this be a surprise? Move out of California! California weather is very bad!

[@JinNani224]

Sucks to be buffet about now

[@KK-pm7ud]

Reinsurance

[@EldoradoBorboa]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of 240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[@EnderSuri]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@SoulyBruce]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited 560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@GarrettMountain]

That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?

[@SoulyBruce]

@@GarrettMountain Elizabeth cordle gross is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@PuggzyCaudle]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@hintzod]

They need to cut down all the forests within 5 miles of large residential areas.

[@punkagrrlzero]

There are no trees near LA dude. It's a chaparral forest and a desert.

[@LantyLiu]

WTF...do you know what can wind gusts of 100 mph do? Don't blame on the trees and nature.

[@weirdshibainu]

LOL. No trees in L.A. but even in areas that have forests, it takes an act of god to cut down trees.

[@waysofzen]

Insurance is another blow to affordability and relocation. Best state in the nation but has alot of problems.

[@rkl3dkl]

IF it were the best state in the nation, it wouldn't have a lot of problems. Not all states do.

[@q9r8s7t6u5v4w3x2y1z0]

what's the phrase that's foreign to me : Deny Defend Depose

[@radearpurba3589]

Wooow 🤔🚨🔥🔥🔥🔥🏡🏡🏡🏢🏢💥💸💸💸🚑🚑🥵😢🤒🤒🙏🏻 Will we see thousands of buildings be burned by wildfires, ladies and gentleman ? Please, forgive me if my question is wrong like a kids' statement or a child's mindset, ladies and gentleman 👶🏻😢🤒🙏🏻 🗓️📌 January, 10th, 2025 #Thefourthday #Thefourthday #Useless #Useless #Useless #Helpless #Helpless #Helpless #Useful #Useful #Helpful #Helpful

[@RenzoTx]

Newsome better force insurance companies to pay up. It’s ridiculous that these corporations have been collecting billions in premiums and then decided to drop customers when risk factor increased. Meanwhile they have recorded billions in profits. CA cannot let them wash their hands clean of this disaster.

[@chriskey7440]

Who has recorded billions in profits, please be more specific? Not State Farm, shoot they've lost money the past 2 years, so I look forward to your answer.

[@RenzoTx]

@ Actually, SF financial reports show that SF is in a strong financial position. Losses seem to be linked to 2020-21 divided payments to investors, especially dividend payments made in 2020. Yes, their claims expenses have steadily increased since 2020, but looks like the big dividend distribution from 2020 is still haunting them to this day. Finally, a large percentage of their liabilities is the form of required reserves. Overall, SF current financial situation looks solid.

[@illegalsmirf]

BTFD Stonks only go