State Farm said to have canceled 70% of Palisades policies before fire | NewsNation Now

[@PeterCombs]

Going ahead, why on earth woould ANY insurance company offer coverage for areas like this? The area is a ticking time bomb..and the State has ignored the problem for decades.

[@rickk6447]

Yes a ticking time bomb, but let’s look at the bigger picture. These companies are very close to big Govt. They cancel 70% of their insurance premiums why? What are the chances of that really? 1 in a billion, these big Govt elitists want one thing, control of the masses. Remember COVID? I think it peculiar when insurance complies cut out 70% of their revenue, this didn’t happen the day before the fire, it was already taking place! My feeling, they knew this was coming and they were waiting for the right wind! These politicians are Evil people wanting to destroy America and to control the masses. Think about the Financial burden it places on the USA, same thing with COVID, they knew damn well our bodies would create antibodies. Yet big pharma raked in billions probably trillions. It was all about control, if you think slick hair isn’t about controlling the masses, think again! Why would President Trump want to go see Cali and slick hair, why? President Trump did that in his first term, slick hair never headed one warning about cleaning underbrush nor about filling reservoirs! It’s all about control for Slick hair!…

[@Afrozombie94]

Well I think in like 20 years if they construct better safety measures and fire proof housing that insurance companies would come back.

[@waterislife5109]

@@Afrozombie94um ok, ridiculous comment.

[@kingofthejunglebishop4258]

Then why take customers money in the first place then? It was cool when customers was paying and didn’t need to use their insurance but now that they need them it’s a problem. You can have insurance but can’t have fire insurance wtf is that🤦🏾‍♂️. S**t wrong and criminal

[@KM-kp1dz]

State Farm cancelled policies in Pacific Palisades because Newsome and his minions refused to negotiate with them. Instead, they passed legislation not allowing State Farm to raise premiums to cover their exposure. State Farm had little choice but to back out of California. If Newsom had simply negotiated a lower tax rate, State Farm would have agreed to maintain or even lower premiums while still being able to cover losses. This is what happens when you have elected officials who have zero business negotiating skills and liberal ideologies. Instead of fixing an problem, Gov. Newsom worked on 'Trump Proofing' instead of 'Fire-Proofing' his state to the tune of millions of dollars while cutting the wildfire preparedness budget by millions last year. Is it any wonder why voters are now enraged and want Newsom thrown out of office?

[@vandykd00]

california government problem. not federal

[@1motomanic]

They all had a chance to get rid of Newsom awhile back, hard to have sympathy for them now when the majority voted to keep him in office.

[@hernanhernandez3861]

Very well said. Born and raised here in CA I've learned during times of crisis you are on your own. I've taken matters into my own hands. I have a 300 gpm water pump to disburse pool water out of my pool to save my home and neighboring homes. I'm sure my fire insurance will be cancelled after this disaster and I will have to go with the cr@p CA fund which is inadequate so I will need to defend my property. Every home/condo/apartment that has a pool should have an emergency fire pumping system. Many burned down homes in areas with no water/pressure had pools filled with water that could have been used.

[@kbrown5218]

@@1motomanic I doubt an honest election has been held in CA for at least 3 decades.

[@EdwardOtero-p8c]

What did State Farm ask for in their NEGOTIATIONS ?

[@eyelovecolorado2195]

State Farm knew about this tremendous fire hazard while the governor and mayor ignored this warning and concentrated their efforts on implementing socialism. LOL

[@TheFreeAgent2024]

The insurance companies deserve the least blame, in my view. They may be hated, but at least they knew what was coming due to state and local government negligence

[@rustinpierce7269]

You see when you manage your own money you care about managing it . When the government manages other people's money they could care less .

[@joelwright4317]

Did the insurance companies actually "cancel" policies? Or did they choose not to re-new these policies at the end of the policy term? "Cancelling" a policy and "not renewing" a policy mean two very different things.

[@sl123sl]

Excellent point!

[@Skelton45]

The Policy Jacket addresses both canceling and non-renewals. Shame on the State of California for destroying personal and real property and the jobs of all the Insurance personnel. It's not rock science....People have and continue to Move Out of California.....Or one could stay and deal with it.

[@wilsonsantiago-e3c]

They canceled because they were forced into new policies then said we are leaving in his case “California”

[@MKDAVIS323]

Not renew

[@wilsonsantiago-e3c]

@ and this happened last year

[@TallRedTX]

If you (state of CA) don’t protect your risk, don’t expect insurance companies to insure it. Period. This is all a result of the unlawfulness the Democrat and liberal judicial systems allow. Insurance companies can not afford to cover everything. We need to get back to upholding the law and give our middle class a chance to prosper.

[@erickalc1031]

Same goes to Florida right?

[@user-dc6ut5uu3t]

@@erickalc1031 No, FL prosecutes criminals and takes care of their natural environment.

[@KellyMason-vw2bc]

Hurricanes can’t be stopped . These fires can

[@erickalc1031]

@ or you can stop building on land that gets flooded and hit by hurricanes every season? Or do we have a case of double standards here?

[@MeatFarmer]

Media is working hard to avoid blaming democrat politicians. As usual.

[@OneWouldThink]

Cancelled because an already high risk area became an uninsurable due to the avoidable lack of fire prevention measures by the government.

[@kyledavis635]

Bingo... we have a commenter with brains

[@daveoatway6126]

Why should my Federal taxes be diverted to bail out expensive homes in California which were built in dangerous areas? The insurance companies must be allowed to set premiums to cover their expected loses and not depend of Federal bailouts. The State government should be liable to pay the losses since it was their policies that created the conditions that led to this. I am sorry for the home owners, but they voted in the politicians who wasted their money on drug kits, homeless, and illegal immigrants.

[@vandykd00]

fully agree.

[@INYB]

100% But the insurance companies own the legislators not only in California. In DC as well.

[@richardcastell490]

If people are not insured and have lost everything, they are not going to keep paying their mortgages. Is this going to turn into another California banking crisis?

[@n2music174]

Look at the Land management by the government . Dont blame the insurance companies for seeing the time bomb and leaving !

[@lakeguy65616]

its easy to criticize insurance companies. Such companies are not charities. They exist to make profits for their shareholders. In exchange for a premium payment, they assume risks on behalf of policyholders. Clearly, these companies (months ago) decided the risks were too great given the premiums they are allowed to charge. The insured value(s) of homes have increased faster than the premiums charged. These companies will exit the California market even faster now.

[@camban]

They did the risk analysis that voters didn’t do. And it told them that preventative maintenance and fire event preparation was criminally deficient. Insurers pulling out was the biggest red flag ever 🚩😔

[@kbrown5218]

Over ten years ago, citizens voted for more reservoirs, water tanks and requested millions to do the work. That passed. Newsome has totally ignored that. He should be in prison with his entire state legislature and Mayor Karen Bass.

[@ptakvm]

That's why I have State Farm. Why should I have to pay for the idiotic policies of California. Glad State Farm is looking out for their customers in other states.

[@Crow-jg4sj]

You will via higher taxes

[@ucsbgirlie18]

California pays more federal taxes than any other state. I'm sure California would be happy for all the other states to be on their own when their own disasters strike. They'd be fine regardless. The amount of hate from people toward California is disgusting.

[@support2587]

I hate insurance companies as much as the next guy but so what? California forced these private companies out. They voted for this government. Insurance companies have experts who look at things that will cost them monies like empty reservoirs, lousy fire departments, no fire breaks or proper forest management AND SANTA ANNA winds!

[@1940limited]

I'm beginning to think CA is an enemy of the nation

[@TennesseeHomesteadUSA]

The cancellations were months ago.

[@mojojojo7923]

If the insurance company knew to cancel them, why didn’t the fire department know that this was going to happen?

[@arindambaisya]

Blame the government in this case.

[@greggkupec]

Let’s please keep this fiasco IN CALIFORNIA and not spread or require US taxpayer bail out!

[@ucsbgirlie18]

California pays more federal taxes than any other state. If you want to be stingy about helping California, then every state should be on their own from now on.

[@andrewandres148]

@@ucsbgirlie18 OK.... Lets do it.... We are about there anyway...

[@greggkupec]

@ if you reward incompetence you get more of it. It’s not about being stingy…it’s about being accountable for disasters that seem to be a recurring theme brought on by poor leadership and foresight. If the insurance companies saw it for what it was …why didn’t California leadership?

[@ucsbgirlie18]

@@greggkupec Insurance companies are canceling plans in Florida too. With more extreme weather events becoming common, they can't make money. You can't manage your way out of 100 mph winds. The wind doesn't care who the governor is.

[@greggkupec]

@@ucsbgirlie18 I disagree. The insurance companies care who the governor is…keep making excuses and learn nothing

[@andrewandres148]

Does anyone think the adjusters seen the empty reservoir, and perhaps seen cuts in fire protection from the County?

[@virgilcain6139]

They were not RENEWED... They were not CANCELLED. ****************************************************************

[@777סמנתה]

Whether the policies aren't renewed or canceled, some had no coverage at the time of the fires. The state's government caused this problem.

[@BrianDoylePDX]

State Farm Insurance is not at fault for that. If the homeowner is notified their policy isn't going to be renewed it's their responsibility to acquire insurance through another vendor. There was plenty of time between July and January to obtain a new policy.

[@halomaster9640]

Semantics.

[@Drewzker]

this would have bankrupted State Farm

[@suthonsrirat9335]

Pew

[@kbrown5218]

The sinking of the Titanic taught insurance companies about risks...

[@1940limited]

Or any other insurance company.

[@timdavis3733]

State farm also would have had plenty of people on the ground in the state to let them know nothing was being done to maintain the forest floor. That in and of itself is enough to justify insurance company's pulling out of any state. Selling insurance is supposed to be a calculated risk not the assurance of lose.

[@Natalie_TrueCrime]

Over time, the agents on the ground reported the hazards and the decline in upkeep, aging wooden homes, weather patterns. Insurance relies on all these statistics to make a profit. It's concerning that they withdrew without anyone in California government noticing this glaring ⚠️warning sign.

[@alfeeauyeung7392]

The media begins to divert the responsibility from the CA government to insurance company.😂

[@irenmolnar221]

They were smart otherwise could file for bankruptcy!!!! That places is fire danger period!!!!

[@anstead9830]

Back in 2004, after Hurricane Ivan, my insurance company, dropped me, too. I didn't even have a claim. The risk was just too high for them, it happens.

[@ryanwalters6184]

And you'll see people still claim that they had no idea this was a wildfire area. 😂 They can pay millions for their house but then cannot afford the insurance. Insurance is not a charity.

[@Jazzfestn]

The Insurance Companies TOLD CA this was going to happen - and it DID! When you KNOW safety measures are being NEGLECTED, would YOU stick around?! I LEFT CA and boy am I GLAD!

[@tribuneofmercy6184]

Looking at what happened, it's pretty obvious why they canceled it. Had there not been restrictions on raising premiums, they might have stayed.

[@glenngarland9707]

Obviously the lady saying it’s not ethical for them to leave doesn’t understand what insurance is. Of coarse a company is going to cancel when the environment is a liability. If the property was built in a flood zone that floods every year then flood insurance wouldn’t be available because of the floods. They would say don’t build in a flood zone. They wouldn’t be able to pay the damages.

[@1940limited]

She understands what insurance is but is told to defend democrats and make private enterprise the bad guy.

[@pinkfreud62]

"I'm not in good hands! I'm in no hands! Like a bad neighbor, no one is there!" H.Simpson

[@Skelton45]

You got what you voted for...

[@anstead9830]

If your insurance company condiders you a "bad risk" . . . driving record, police record, having many accidents, they will drop you. They most likely took into consideration the "Tinderbox" condition of California and decided they didn't want to be financially responsible for that impending disaster and booked.

[@Natalie_TrueCrime]

Exactly. The insurance experts anticipated this and were likely horrified by their ‘predicted’ outcomes, knowing this was statistically possible. I bet they’re all thinking, “Wow, it finally happened!” 😮

[@reynamachado85]

If I tried to get a different auto policy, and not continue my current coverage, a lot will not take my car. All because the stupid Kia/Hyundai TikTok crap that led to cars being stolen with a USB cord. Thanks to that, even if I was to get a club/lock/whatever- I cannot get insurance. I am too much of a risk. And it is not even my fault because I had my car BEFORE this crap.

[@frankblangeard8865]

@@reynamachado85 You can't get insurance for theft. You can get the minimum insurance required by your State. If your car is several years old that is all that matters.

[@kbrown5218]

The CA state legislature refused insurance companies rate increase.

[@susiesmith546]

Pacific Palisades in California has historically experienced significant landslide issues, particularly during periods of heavy rain, with the most notable activity occurring after major storms, causing land movement and impacting homes in the area; this is due to the steep terrain and geological conditions of the coastal bluffs where the community is situated.

[@tennesseenana4838]

The people in North Carolina and Tennessee are also needing help from Hurricane Helene that happened in September. A lot of them are still living in tents, and they recently had a freezing snowstorm. Help from national agencies, the gov't or FEMA have been slim to next to none. Forget insurance companies with their thousands of excuses for not paying. The people have had to rely on churches and volunteers for food, water, clothing and what shelter they could get.

[@1940limited]

Relying on your own resources is probably the better way to go. Government can't do anything right.

[@virgilcain6139]

If your insurance is not renewed or cancelled, you find another insurance company right away. *****************************************************************************************************

[@kyledavis635]

Except most insurance companies pulled out of CA, because state regulations restrict what they can charge, and thus they stopped offering coverage in the state of CA. Easy choice for insurance companies. This is what happens when you interfere with the free market and impose onerous government regulations. It's not rocket science....

[@John-c3u9o]

News flash. Insurance companies aren't charities. Homeowners don't have a right to a multi-million dollar price tag on their homes. If it's in a fire zone and insurance is exorbitant, the price should come down to reflect that. Bear the costs of your own risk-taking. Don't expect a bail out from the rest of us.

[@MaryDixonSmilla13]

I certainly would not take the risk if I was an insurance company are you freaking kidding me

[@OneWouldThink]

No different than having a home in a known flood area. Yes,you can get insurance usually but it’s going to cost a lot.

[@Natalie_TrueCrime]

If you have a good realtor, they will show you the US Army Corp of Engineers flood plains, fire risk, etc., when you are buying the home so you understand the location insurance risks/costs.

[@OneWouldThink]

BOTTOM LINE: WAS THIS CATASTROPHIC EVENT PREVENTABLE? For the most part yes but it would have taken preparations ahead of time like cutting back dead brush and timber,ensuring adequate water and firefighter personnel to combat and a wide awake and responsible leadership at all leavers to coordinate all the necessary measures. Obviously this was the results of inept management steering the ship.

[@stefwild3322]

FEMA will give them $750 just like they did in North Carolina.

[@donaldmarusak6501]

Only some and if they didn't have TRUMP signs in their yards...

[@MTGoddard]

Be grateful for what you have, because we loose it in a blink of eye, be humble ,be faithful

[@sharonjonsy9412]

Same happened here in Oregon. They're using drones to inspect everything, even your front and backyard. Cancelled us because our pool was green, which happens after rainy weather and we have a service to maintain it. Cancelled thousands!

[@drwho5437]

I bet they didn't cancel Travis Kelce or Patrick Mahomes policies!! Id like to see them both apologize for their company's actions.

[@Mike-dn7ut]

It takes insurance companies over a year to get increases or decreases approved by the department of insurance. Everything is more expensive and many insurance companies are losing money. If your losing money today and know the doi won’t approve your rate increase for a year your only other option is to cancel policies just to stop the bleeding

[@ericthomspon1310]

Short sale and Blackrock has entered the chat, they all walk away, like they did last time. Non-recourse. Unattainable mortgage state now.

[@EdwardOtero-p8c]

There should be a law requiring Insurance Companies to refund a percentage of premiums the homeowner pays, for every year there aren't any claims made. It sounds like the Insurance companies are "have their cake and eating it too."

[@ryanwalters6184]

You can do that but it cost more. There's plenty of mutual insurance companies that offer just what you're talking about. Amica is one of them

[@tennesseenana4838]

I've owned a home since 1973 and have NEVER used my homeowner's insurance. Even so, I can't believe how high my payments are now. If I had invested the money I've made in payments instead of giving it to them, I'd be extremely wealthy now.

[@EdwardOtero-p8c]

@@tennesseenana4838 I'm happy for your good fortune in never having a claim. I for one think you deserve either a reduction in premiums or a percentage back of what you pay every year. Insurance Companies will soon be asking the Federal Government (American taxpayers) to bail them out. Something is way out of WHACK here.

[@EdwardOtero-p8c]

@@ryanwalters6184 WHY should it cost more ??

[@vsc604]

its' a personal choice to live in a high risk area. if you cant afford the higher premium or to self-insure with your savings, do not purchase a property at these location!

[@NicholsonNeisler-fz3gi]

How can you have a mortgage and not have fire insurance?

[@signalfire6]

A lot of them didn't have mortgages, for one thing. These were multi-millionaires who paid cash and the others were people whose parents and grandparents bought into these neighborhoods decades ago. They inherited paid-off houses. I looked on line at Altadena, the 'working class' neighborhood everyone was talking about. There wasn't a single house or even vacant lot that was valued under one million dollars. A mere 7 days ago before the fire started, they could have sold their family home for over one million and gotten out of danger. Pretty sure the 'value' of houses in California as well as Florida and other disaster-prone places just dropped like a rock.

[@joycepino5346]

You need to have Homeowners Insurance whether you have a mortgage or not. I lived in the Bay Area and never got Earthquake insurance. It's a separate payment on top of regular insurance. This was back in 2004. 4:22

[@1940limited]

They saw the hand writing on the wall and bailed out before being bankrupted. Can't blame them for that. Don't build in high risk areas.

[@regularSenseAppeal]

These areas a done. Who will pay for rebuilding under those conditions? Cali govt only cares about virtue signalling

[@ruthhaynes1104]

And they raised our car insurance

[@MilesTGabourel]

My auto and motorcycle insurance got raised and I’m in state of Virginia.

[@anstead9830]

The rise in car insurance is due to our out of control economy. It would now cost more to repair or replace your vehicle. You can blame that on Joe Biden.

[@GeorgeOzier-gr5zq]

It's not just California. It's the insurance companies bad business decisions.

[@Shlomo_Shekelstein]

America is a clown show 🤡

[@SweetSpot909]

Bass and Newsom said … “who could have known this wildl happen” said they were helpless. Yea no one except every insurance company in the exact area effected

[@infinera06]

Whoever decided to cancel those policies need to get a raise and/or a promotion.

[@KellyMason-vw2bc]

U couldn’t give me a home in cali

[@AFloridaSon]

Not if I had to live there.

[@James-k3p2e]

Maybe if State Farm quit paying multi millionaire over paid athletes millions more to do there commercials they could cover more customers.

[@lemigu8820]

Healthcare and insurance companies collecting premiums and then refusing to pay out. Criminal behavior.

[@mark6000]

blue voters what you thinking now

[@Fridayyet]

SHAME ON THEM. J7st because they are big corporations doesnt mean KARMA wont get them

[@halbrown7121]

Insurers see DEI and incompetents running the place and things not being done. I don't blame them a bit for canceling.

[@california5877]

California people pay houses, cars, floods, and earthquake insurance to hear this after they lose their homes. HAVE FAITH N BELIEVE IN LORD JESUS CHRIST 🙏

[@jimantonino4394]

Like a good neighbor. How can you criticize insurance companies for understanding risk and taking action. The state, county, and city is mismanaged so they walked away.

[@rob6850]

Insurance is such a scam. What good are they, really?

[@raycuizon8226]

its like going to a casino. You are basically betting if you gonna have a claim or not for the year. Then repeat the next year.

[@iracer9395]

Most morgage companies would have required fire insurance and would have purchased fire insurance for the property as soon as they received the non-renewal, because the mortgage company gets the same notification. They add the additional premium to the insurance bill. Thats why the premiums went up.

[@MrJoker-]

Where have payments from the insurance companies went to before the fires?

[@baldeagle4710]

State Farm is not on your side nor or other insurance companies

[@frankblangeard8865]

If I choose to build my home above a canyon which is covered with dry brush is it my responsibility to clear and maintain the canyon or is it the responsibility of the person or entity which owns the land in the canyon?

[@steveec9704]

You all need to wake up they knew about the fire before it started

[@wamcelot1807]

"For Profit Scam Companies" A code of ethics needs to be established and adhered to! The code of ethics needs to be across the board - ALL INDUSTRIES! Including Public Servants and Politicians!

[@kingofthejunglebishop4258]

Man I don’t care what nobody say but that’s so f**ked up for an insurance company to cancel/don’t renew your policy just because on where they live. It was all good taking monthly payments from customers tho🤬. The government would’ve bailed them out. I own my home and I can’t imagine not having home owners insurance. Some people saying “they rich house was paid for” how tf you know that? Just because you’re rich doesn’t mean you paying for your house straight out cash. Insurance companies take your money but when you need to use them after years and years of paying and not using them, they can turn they back on you is wrong and criminal.

[@GeorgeOzier-gr5zq]

Nothing personal, just business.

[@RobertPerez-w1t]

Time to cancel State Farm.

[@bigpicturethinking5620]

So the insurance companies knew the risk was increasing to levels which h caused them to not renew policies……but the government had no idea. Seems like a strange predictive gap.

[@JamesbaconFiyah]

i dont feel bad for anyone who doesnt ensure they have the proper insurance

[@jimmyfields-t2r]

Another insurance companies take your money, but when you need them want give you money, banned all insurance companies.

[@eliser9776]

I think there should be fines for that. People probably paid in to the insurance for years and then they get cut... and then disaster strikes. Not fair.

[@truthiscensored]

Government shouldn't force us to buy insurance if they are for profit businesses/industry. Gov't and Financial Lending institutions force us to have insurance for Closing on a house or car registration.

[@Nofuture-1984]

I miss the part where the insurance companies should NOTIFY the client if there are changes?

[@kevingilligan2270]

Same with people who build right on top of the shoreline , insurance companies know it's not if but when.

[@6102oneWolf]

Someone at State Farm is getting a big bonus.

[@jimantonino4394]

Well this will be a shining credit on Newsome’s resume.

[@RacerX1971]

Insurance companies will fly drones in areas and see of it is at risk, meaning dry brush, wood, dead trees, branches hanging over your roof and if it sees that, it will drop you. Even if your pool does not have water and your fence is leaning a bit, you will be dropped..this happened to my friend..

[@elistrauf]

Proof that insurance is a total scam!

[@1940limited]

Insurance is a for profit business. If the risk ism high, they don't insure.

[@Shay-yg7nm]

They have every right to cancel based on how the government was taking care of the problem. This is a Bass and Newsom mismanagement issue. They need to be held accountable

[@markmaugle4599]

What did State Farm know about the risk of fire last July?

[@debbyrogers3722]

I'm hoping that people will see this and if you have any of these companies I'm hoping that you will cancel your policy because they have shown they're not going to be there for you if you need them anyway

[@fasteddie7276]

Hard to believe any company would do business in a blue state.

[@MrJoker-]

Did those same companies back out of areas effected by Helene, like Appalachia and Fla ?

[@franciscajauregui6022]

State Farm is crooked need to sue and get your house built . Smells suspicious. What a coincidence they cancel out after all this money given to them then this tragedy happens .

[@MATTK-u7f]

state farm made over 100 BILLION DOLLARS LAST YEAR

[@rickk6447]

Almost like they knew it was coming????????

[@daveweil6767]

Curious if the insurance companies will be the ones to get the politicians to acknowledge the reality of climate crisis….

[@glamdoll313]

Poor water and forest management is not climate change, its poor policies and administration

[@mrcountit]

this will clear out lots of retirees that didn’t get insurance and have no mortgage….great for investors..🎉

[@ericthomspon1310]

2 homes in Lahaina have been rebuilt so far, Insurance? You are getting way ahead of yourselves. Go take a drone tour.

[@kevinprice4536]

Reinsurance will go through the roof after these claims . Reinsurers carry the bulk of the risk when it comes to catastrophes

[@wakeup3843]

Sounds like the insurance companies saw something that every political leader in the state didn’t want to see.

[@ridemfast7625]

Insurance companies have been canceling and leaving California for months, nothing new here. Mine in Nor Cal was canceled almost a year ago. The blame rests on democrat voters, no one else!

[@Wunderpus-photogenicus]

So, are these for-profit entities involved in these wildfires?

[@NatureConnection-zn4jw]

This country is so corrupt ☠️

[@OneJennifer247]

No insurance then what happens to the mortgage payment and subsequently credit scores😮