The Home Insurance Crisis in California! Why Is Home Insurance So Expensive in CA?

[@stevestewart9190]

Very good run down of the reasons for the problems. Sadly climate change has very little if anything to do with it. Main line insurance companies have not insured homes in wildfire areas in several years. Business has shifted to the Fair Plan in Wildfire areas. Insurance companies has lost millions of dollars servicing their policyholders. This fact is indisputable.

[@RichFlemingRealtor]

Thanks for watching the video and sharing your opinion.

[@shastastan1935]

I appreciate this video since it presents most of the relevant facts without specifying what action to take. I agree with most of the points made in the video. We were victims of a wildfire and our premiums have increased over 200%. We are thankful that we still have insurance. We are very concerned about what may happen to our future insurance coverage.

[@RichFlemingRealtor]

Sorry you are caught up in the insurance nightmare. My assistant works remotely and lives in "wildfire country" here in CA. A fire recently came within a couple of miles of her place and the ONLY insurance option available to her is FAIR.

[@glynnjohnson3531]

EXCELLENT JOB. YOU HELPED ME UNDERSTAND A VERY COMPLICATED PROBLEM! LIVE IN SO CAL

[@RichFlemingRealtor]

Thanks for watching and you're welcome. I don't know if you saw that State Farm in CA is asking for BIG rate increases to make sure they don't become insolvent. Don't worry, the execs will keep their multimillion dollar pay packages!

[@bigstickful]

Real estate. Quit overpaying for these homes. Simple.

[@RichFlemingRealtor]

This video is about insurance, not real estate prices. Are you overpaying if you are paying the market price?

[@jeffl8725]

I was dropped by my HOI and could not find my own insurance so the mortgage company had to add the insurance themselves. Just the day in the life of living in California.

[@RichFlemingRealtor]

Ugghhh ... mortgage company insurance isn't cheap, but at least you have coverage. Other states like TX and FL and also having challenges. All the best.

[@eliasthienpont6330]

🐯🐯🐯🐯🐯🐯🐯🐯🐯🐯 --------> Insurance companies do not get all of their funds in the form of premiums from their policy holders. The bulk of their funding comes from the investment of the monies between the time they receive the premium and the time that they pay out benefit.

[@RichFlemingRealtor]

I don't believe I said they get all of their funds from policyholders. Well known that insurance companies make their money on investments, not so much on insurance.

[@RichFlemingRealtor]

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[@derekmarlowe522]

California, the one party-rule state has ruined everything about living in California.

[@RichFlemingRealtor]

Has one party rule ruined states like Alabama, Mississippi, Florida and Texas? Texas has insurance and power grid challenges. Florida has more severe insurance challenges than CA! It also has a condo crisis and a cost of living crisis. Alabama and Mississippi perennially have on of the poorest economies and standards of living. In short, all places have their challenges.

[@dfinite1111]

That’s not true. California is the greatest state to live in. Period.