Wildfire victims face insurance crisis

[@billsalcido7878]

“I’ll take your money as long as I don’t need to spend any. When it gets too risky I’ll cancel our contract and keep your money!” -insurance

[@Plutogalaxy]

Actually they can’t and never cancel the contract, they just choose not to sell you a new one. They got what they paid for.

[@RobynHood1021]

Its nothing but a glorified ponzi scheme

[@smith7388]

@@Plutogalaxywhat do you mean they got what they paid for?

[@Alovellyone]

I live in Louisiana. I wish I could I get all the money I wasted paying into insurance companies. All we are paying is for some high up CEO to afford his new Maybach or Mansion in the Hamptons.

[@jponz85]

​@Plutogalaxy "they got what they paid for" what did they pay for? Insurance? Yes. Did they get insurance that they paid for? No. So tf did you even mean by that? Silly comment

[@ronbelanger4113]

Deny, defend, depose. Coming soon.

[@kintsukuroi6300]

Gen Z must be taking note to all this and I would not be surprise if they put a stamp 'close and defunct' to the real state sector...buying a house? No, that was an old societal ideology.

[@B86432]

Fire took out a bunch of Luigi type kids..... nepo babies

[@aaronolivas6970]

Those arnt the ones they need to worry about 🫡​@B86432

[@Lowwboyyy]

Or the leaders could actually do some preventive measures that would lower the risk for insurers.

[@cvbposhd2789]

Just like democrates ❤

[@jonathanward1527]

Only 1 thing in all this is 100% guaranteed. The executives who made the call to cancel all those California policies are getting a promotion and a big fat b’onus this year.

[@tuvyag]

You’re an idiot that doesn’t understand how failed woke demokRATS have caused the fires.

[@C0pernicus]

They should. It was smart to stop doing business when California won't let them raise rates on risky homes.

[@MrThe1234guy]

When the city is cutting budgets as the population is growing and then they tell them they can't raise rates it's a recipe for disaster. We need to put the blame where it belongs.

[@YuriWong-g7e]

Good business practice, especially since the politicians in california refuse to implement the forestry management practices and water infrastructures that will mitigate and reduce wildfires

[@BrutalSho]

Called smart business. I despise insurance companies but this was a no brainer. The risk assessment was way too high for any company to insure. We're down to like 3-4 options now . Off course they would push climate change bullshit . This falls on the state not mitigating these fires.

[@faerierosepress4133]

Here’s a thought, if Insurance companies are going to cancel policies, why not get rid of the mandate or the requirement that you have to have home insurance?

[@PodiumTuningRacing]

Or get back all the money you paid out when no claims were made. If we missed payments they would cancel us, well you cancelled despite on time payments so why not give me my money back.

[@Deqaaa]

@@PodiumTuningRacingvalid point ‼️

[@Pencil-o1p]

If you have mortgage, you’re required to have home insurance. Banks won’t take risk to lend you uninsured money.

[@TayAllen54]

Could not agree more and then also they should refund you all the premiums you paid because you did not use them!!

[@Lowwboyyy]

Or the leaders could actually do some preventive measures that would lower the risk for insurers.

[@treywayx7]

Like a bad neighbor, State Farm isn’t there.

[@patrickhall3878]

If your neighbor was storing 1000 gallons of gasoline next to your house what would you do?

[@arlisbartlett403]

1000 gallons of gasoline is relatively safe if stored properly. There are specialized tanks to store fuel in.

[@scienceisreal779]

​@@patrickhall3878bootlicker

[@sirdiealot53]

Nah state farm be gay 😭

[@patrickhall3878]

@arlisbartlett403 but dried brush is not stored in a good container.

[@dixonmopar2129]

Like a good neighbor State Farm ...Is getting the hell out of there ! 😆

[@amols101]

I shouldn't be laughing but I am😅

[@SY-js5oc]

😂😂😂

[@neilkurzman4907]

So a business is losing money by the boatload and your answer is they should’ve just toughed it out. If they weren’t leaving before, they will certainly be leaving now

[@TigerTT]

This is why insurance companies are getting desperate and hiring celebrities for their ads now lmao.

[@ThomasFromTN]

​@@amols101acknowledgment of being a sociopath in no way mitigates the reality of being a sociopath.

[@Alovellyone]

Louisiana resident here. I was dropped twice by insurance companies. Last year was the second time. I recieved a nice little letter in the mail basically informing me that I was too much of a risk being a Louisiana resident. Additionally, I live in a manufactured homes and other insurance companies won't insure a home with roof that's over 10 years old. They find every excuse not to give you any coverage. I currently only have flood insurance which I just paid too much for. I'm sick of the whole fraudulent circus.

[@gomerhanger2285]

You can't watch an NFL game without seeing a State Farm insurance LMAO

[@charliebecker2216]

College game with met life . How do they have all the money for every commercial in prime time .

[@RicePho]

People call Luigi a terrorist, I wonder what drove him to do what he did?

[@neilkurzman4907]

Reading too many posts on the Internet. He was from a rich family and didn’t have any insurance issues.

[@ashtonrucker7122]

@@neilkurzman4907 You're late to your rich billionaire b00tlicking meeting

[@smeeangle]

People never called that.

[@zucchinikindaslayed]

​@@smeeangleare you blind? there's literally someone above you saying it

[@ryv2484]

Reddit

[@ImOnGearSoWhat]

Luigi looks more like a hero every day that passes.

[@xalspaero]

no, you look like an idiot. let's see you operate a successful home insurance company which covers all over california and doesn't go bankrupt immediately.

[@ImOnGearSoWhat]

@@xalspaerocan’t afford it, don’t operate in the state. If people are paying big premiums for fire insurance, they deserve the protection they PAID FOR.

[@xalspaero]

@@ImOnGearSoWhat yea, and it's an at-will agreement so an insurance company can cancel that agreement at any time. obviously not AFTER a home gets annihilated, but before is fine.

[@B86432]

Luigi is a nepo baby

[@aaronolivas6970]

​@@B86432and youre a cum stain

[@martinalbert29]

If possible America as a whole should start building concrete houses on steel foundations with ceramic tiled roofing. Non combustible and more resistant to earthquake and Hurricane damage.

[@ctufan24]

@martinabert29 Alot more costly than wood.

[@stcxps526]

@@ctufan24 because the current wood houses are cheap😂😂😂

[@AlkalineInsides]

Oh please… they don’t want to build houses with expensive materials lol… they want to build for cheap and sell for way more.- but definitely better off building your OWN house, that’s the only way, granted your money is right.

[@guineapigzed]

Best luck

[@Halcon_Sierreno]

That's how my house in Mexico is built. U.S homes are made of paper in comparison. 😂

[@twentypandora96]

Jake is not a good neighbor, because he was never even there.

[@yeoweehuathuat8926]

who is State Farm CEO ?

[@aceyage]

Google is your friend.

[@MajinMist603]

I think Jon Farney

[@Thunder_Dome45]

I'm sure nobody knows. For some reason insurance companies have removed their names from websites. Weird huh?

[@whome9936]

@@aceyage Ugh. They’re not really asking for the purpose of gaining information. They’re making a point (or possibly a veiled threat/recommendation), likely with reference to the recent assassination of the health insurance CEO. Critical reading skills are your friend.

[@sonicgalaxy27]

Why do you want to know?

[@AJ-pj2jw]

Another Luigi about to take revenge.

[@B86432]

Another spoiled rich kid? 😂

[@letit023]

We need to FREE Luigi

[@carlRoyh]

in north carolina insurance company left when they know its coming and it left us broke forever

[@ChuckStewart-q3z]

That's sad. And I wish poorly educated Trumpers realized Insurance Corporations are doing this in not just Democrat Majority California. But Republican states like N.Caroiina n especially Florida.

[@HandsomeMalcolmcats]

They left and didn’t refund all the policies so that at least people have their money back for all the years they paid into an unusable policy?

[@TheGardenMG]

@@HandsomeMalcolmcats tell me you don't know how insurance works without telling me you don't know how insurance works.

[@Dantana-z3l]

​@@ChuckStewart-q3zTwo week account. You need smacked

[@ryannem1216]

They leave in advance not when it's known, they give you a good heads up on when they're not insuring in an area yall act like they dropped you the night before a storm

[@alexlianarosalin6168]

Insurance: I’m sorry for your loss, but you’re not covered, NEXT!

[@ThomasFromTN]

You left out the epilogue..."given that not only did your policy not cover fire, expressly stated it would not cover fire.". Private insurance companies are just that... Private.

[@DeeMay-u4r]

I give up most of these comments are ridiculous

[@1375chelsea]

There is no point rebuilding and living in an area that insurance companies won’t cover. Some homeowners will just sell their land at below price and move elsewhere. Even those who can afford to rebuild will think twice because they’ll just be surroundings looking like a war zone neighborhood. And some will be paranoid that it will happen again soon. So why build again. Just sell the piece of property.

[@anthonyalexzander2104]

Insurance wont pay unless they rebuild.

Bingo, so some billionaire will buy up all the property/ land

[@blaydCA]

​@@anthonyalexzander2104 That's incorrect. They cut a check...they pay your mortgage company first OR you one lump sum. If the mortgage is satisfied, then what you do with the remaining money is YOUR choice.

[@neilkurzman4907]

The other option would be to build their houses more fire resistant.

[@jponz85]

​@@anthonyalexzander2104that is true. Our house in paradise burned down in 2018 and insurances told us if we do not rebuild something that they wouldn't pay us out. Ridiculous

[@angelforceforyou]

Only cash buyers will be able to purchase homes now.

[@dixonmopar2129]

2 Trillion for "Gay Wedding cakes " seems a bit expensive now ....

[@13infbatt]

Ooofff…true

[@neilkurzman4907]

You mean, only cash buyers will be able to purchase homes in fire zones in the future.

[@DB-os7wl]

You will own nothing and be happy

[@sonicgalaxy27]

​@@dixonmopar2129 It's going to be a drag.

[@Castle743]

No worries USA tax payers will Pay and everyone's insurance premiums will go up for everyone again in the USA

[@sonicgalaxy27]

Yes and it's going to be a total drag since it's too expensive.

[@johnson6t911]

Where is Luigi Mangione at for this one?

[@ormondbeachr1]

This is actually law maker fault. The problem is that wild fires are insane in California and the pricing for new homes is expensive. New laws prevent insurance companies to increase their premium so they are in a spot that they have to stop insuring or they are operating at a loss.

[@user-hi7yl6yh4i]

The court system thats essentially designed for bankers, insurance companies and wealthy people will certainly have the temperature cranked right up.

[@CaptainChaooooos]

We will all be facing an insurance crisis after this past year.

[@Irujime0529]

Why you blame the insurance companies ? Blame your own Governor and Mayor. They're not a non profit companies, they're here to make money too.

[@oceanblueheart1472]

State Farm. "WE'RE ALWAYS THERE FOR YOUR MONEY, NOT OURS TO YOU"

[@mattn6591]

Unlike a good neighbor, state farm is not there

[@tblcville]

these looming issues you speak of stem from people thinking its is fine to build your house anywhere you please at any size in any situation..........not the case

[@jakeviolet2195]

No, they stem from government officials shirking their duties. Wildfires have always been a risk in California, just like hurricanes in Florida, flooding in Louisiana, tornadoes in Kansas, etc. It is the job of city and state officials to mitigate wildfire risk. To prevent fires from starting, to starve them of fuel and to be ready to fight them when they do start. This is not a case of irresponsible building practices (these neighborhoods have been there for decades) or doing everything right and still losing out to nature's wrath. It is the result of decades of neglect and incompetence by politicians who care more about optics and virtue-signalling than providing actual services to their community.

[@trainerkam3218]

​@@jakeviolet2195What policies or actions has the state taken that have been neglectful compared to decades ago? From my understanding, the state would try to prevent fires altogether and has recently implemented more sound fire management like controlled burns. Considering the amount of land engulfed by flames, the 100+ mph wind, and the drought, I doubt there's much the state could've done to completely prevent this. Not to say the state shouldn't attempt to reduce fire risks or retrofit buildings to be more resistant to fires, but it seems impossible to do that for how large Cali is.

[@BobCycleKing]

Do they really think the insurance company's have that kind of money to pay for all of the claims being filled? Forget about it, those claims will never be paid.

[@ctufan24]

@MomCycleKing Exactly what I first thought. Their going to put a hold on new claims due to the excessiveness. It will be decades before those neighborhoods look like they did. Population will decline rapidly < decline in local economy. Supply & demand.

[@ThomasFromTN]

​​@@ctufan24They can't put a hold on new claims, except perhaps by filing for bankruptcy protection. They can put a hold on new policies... And are not bound to pay on Old policies that don't cover a prevailing incident. But - It seems the pervading circumstances not insufficient funds to cover current policies, but that many current policies do not offer coverage for this incident.

[@kingston4313]

This is when the people need you the most. Please help them, insurance companies.

[@libiure]

the state fire fund only has $200 million - so enough money to cover a couple dozen houses in pacific palisades ..

[@starventure]

OK, then here is a thought...why not just stop people from living in a known fire prone area, and instead force them to live with everyone else in the city proper? Do you see anyone in South Central or Crenshaw or Long Beach crying their eyes out with the woe is me crap right now? Try not building houses in areas that burn really easy.

[@jponz85]

​@@starventureand increase the prices and living of those places you mentioned? Lol there's no way around this. We are all f'ed after this period.

[@starventure]

@@jponz85 Build smarter, not flashier.

[@HappyHappy-sq4ij]

It’s a domino effect of decades of poor leadership. Lack of insurance and fires are the effect; not the cause.

[@PSA78]

I was watching a video from the 60's yesterday about it, so yuup, no one has ever really taken care of things.

[@HappyHappy-sq4ij]

@ it’s just been decades of kicking the can down the road on every issue imaginable.

[@sonicgalaxy27]

Leadership lost their own way.

[@csc8697]

My roomates family had State Farm for 38 years. When their house burned they got 5k

[@DeeMay-u4r]

Don't believe it

[@B86432]

I believe it

[@ryannem1216]

Bullshit 🤣

[@willcox4561]

Please act. The time for blaming is over. It is now time to act and to move forward. The current leadership at multiple levels has failed in multiple areas. This happened long before DEI, but unfortunately, DEI is not the solution. There still needs to be no discrimination and there are plenty of laws on point without DEI. Time to move forward with new leadership starting at the top who will get the problems solved or they, too, will need to be removed. But it’s all up to you, the American citizens of that beautiful state of California to make this happen. No one else can get it done.

[@Halcon_Sierreno]

Lol, don't worry. Trump will fix everything. 😂

[@sinistan1002]

Insurance claims getting turned down. I wonder how many with AI? Turns out Luigi was right after all 😄

[@gageshippy2256]

Luigi admitted he didn't know how the insurance system worked.

[@MaxCharmed]

He wasn’t and he’s the kind of guy that would have started the fires

[@sonicgalaxy27]

​@@gageshippy2256 He does now.

[@iLLSHiNEz]

Those insurance CEO's should stay home for a while

[@B86432]

Most these homes don't have mortgage or insurance since they were bought in cash n insurance companies left after the last fire

[@ceno10101]

I imagine lots of vacant lots for the next few years

[@dixonmopar2129]

No Firefighting Equipment ... No Budget ..... No Water .... But , Plenty of Lesbians !

[@GamesAccount-gg9ik]

New rentals for the olympics 😂😂

[@april-showers77]

According to the website, LA is scheduling to be a smart city by the Olympics in 2028 so the lots will not be vacant for long.

[@Mercedesxoo]

@@april-showers77like when Rome burned so Nero could build his palace in the downtown

[@B86432]

Takes 2 years to build in the area

[@ThomasFromTN]

Insurance companies are not obligated to write policies for things they don't want to cover. I truly feel for these victims of these fires... But if their insurance company did not include a provision for fire, they cannot legally now be demanded to be on the hook to cover it.

[@jayem8981]

Shocking (but not really) how little people actually understand how the world works. Here’s how it works - the insurance company will cover your property if they think the risk of a disaster is within appetite. If they think there is a high likelihood that there will be a disaster, and that they will lose money, they will not. This is basic business and common sense, and is analogous to how every person makes decisions - based on risk and reward. Or are the insurance companies supposed to renew policies in these areas knowing it would put them out of business if a disaster occurred? I guess common sense isn’t so common after all.

[@AM93000]

I agree but not when an insurance company abruptly cancel someone’s active policy during a real time wildfire event. This is what State Farm did regardless of whether the homes are already burned down or soon to be burned down or soon to catch fires

[@donaldduck4983]

My big question is, if you were dropped, why do you wait until you have to file a claim before you bring awareness to this?

[@LeonardoUV]

It should be Ilegal for insurance company to deny coverage

[@joedav02]

Does California have similar or same rules as Florida for home owners who can’t afford or even get insurance? Where the state steps in and provides insurance through a private company?

[@davidlam5122]

"Like the Grim Reaper, State Farms is there."

[@BrokenWrenches]

here in Oklahoma we have had a lot of people migrating from california. A 600,000 home in CA is worth 75,000 here. Its a red state though so maybe not ideal for CA migrants.

[@JPPSrules]

Didn’t Oklahomans move to California during the dust bowl? They probably have relatives there and would adapt no problem

[@ryannem1216]

Won't be 75k for long

[@FinweTata]

It's harder to earn 75k in oklahoma than to earn 600k in california.

[@jamfork3871]

And this is why no insurance should ever be required by law to have.

[@Jan5366]

Wrong, if done correctly it keeps prices down, quite common in the EU

[@B86432]

It's not if you pay cash

[@ryannem1216]

Pay cash then

[@FinweTata]

Law doesn't require insurance. Lender do.

[@jsol0077]

Anyone see any flashes of light on Tuesday January 7?

[@frankcherry3810]

I cannot believe people can still get fire insurance

[@sonicgalaxy27]

Fire Insurance?

[@andrewberrocal2281]

That would morbidly funny if the insurance company’s started fighting the oil companies for them causing climate change and losing money because of it

[@starventure]

The oil companies can simply point to other nations and companies and say "you have a beef with them, not us."

[@MrPl0xygen]

California is so far messed up, governor has to go... California has to get their act together.

[@Prague1810]

@@MrPl0xygen California needs to stop sending money to red states and take care of their own!

[@dixonmopar2129]

California ! Perpetually stuck in 1968 !

[@gooser__43]

​California sends families to red states.

[@Prague1810]

@@dixonmopar2129 Red uneducated states are the ones stuck in the past. 😂

[@Prague1810]

@@dixonmopar2129 California’s economy ranks 5th internationally. That would be impossible if they were stuck in the 60s. 🤦🏻‍♂️

[@WalterWhite84762]

Life has consequences, and you vote for the California government to implement a price ceiling on home insurance. If the insurance firms can’t make money, then they will not offer your state their services. It’s the pe Life has consequences, and you voted for the California government to implement a price ceiling on home insurance. If the insurance firms can’t make money, then they will not offer your state their services. It’s the people’s fault; you wanted this.

[@rlford10]

The immense fire losses to homes and businesses is a heartbreaking tragedy! The ramifications of these fires will be felt for 20 years or more!

[@evielknievel4972]

State Farm doesn't pay fire claims. Meanwhile they tell customers who live in low risk states and have paid 20 years : " We are raising rates becausr wildfires that we've paid out". My friend works SF and she told me this is what they do.

[@smith7388]

If they no longer insure then refund ALL premiums paid prior to that decision.

[@DeeMay-u4r]

Stop it. The insurance companies non renew that means while you were paying you were covered

[@Lucysil1970]

The people who were dropped still had options for fire insurance. They just opted out because it was so expensive. The same goes for Florida residence.

[@LisaJBee88]

Everyone, across the United States, should drop State Farm insurance. Together we stand - divided we fall! We must invest in clean energy & stop over consuming. We are reaping what we’ve sown.

[@ft.jackjimmy7282]

One thing I’m suspecting is that majority of the homes affected are upwards of 900k to 1 million dollars. California housing is quite expensive. The extent that insurance is willing to cover is prob lower to some middle class homes but most middle and high class homes are either facing insane premium spike or outright cancellation. So just a small advice if you live in catastrophe risk area, don’t remodel your house to increase its market value, insurance will be your downfall if disaster strike.

[@Mexicano1768]

wheres Luigi

[@Gamer4672]

"Your insurance company has cancelled your homeowner's insurance without your permission. Do you wish to continue?" -Yes -No -Call Luigi

[@ryannem1216]

It's called a non renewal 🤣 also a company doesn't need your permission to non renew you.

[@mikeymike7738]

So sad. This is the time our government needs to step up

[@MajinMist603]

“ Deny , defend , depose “ tactic ???? Also wild that our health insurance is tied by our full Time 40 hour jobs , should be 30 hours for benefits and have 4 day work week

[@yilongli3035]

"Intend to keep their commitment" It is no no

[@Alkasser2025Alktwf]

$17 billion in American aid to Israel to continue killing Palestinians, all at the expense of civil defense and firefighting budgets in the United States of America. Where are the rational people in the United States of America regarding what is happening? Is supporting Israel in committing genocide in Gaza an American religious and patriotic duty? I pray to God to protect the people of Los Angeles

[@jonesmorales-tu6kq]

They been collecting premiums ... you can't cancel insurance if you collect the premiums

[@Prague1810]

Paging Luigi. Paging Luigi.

[@sinistan1002]

YEP LUIGI AKA ROBIN HOOD WAS 100 PERCENT RIGHT

[@ChuckStewart-q3z]

Trump loves Corporations. Especially Healthcare n Homeowners ones. He's Not going to allow any more "Luigis". Nor force Corporations to behave. Don't be so naive n gullible. Ain't Cold Blooded Unfettered American Capitolism n Greed Grand, lol???😅😅😅

[@B86432]

Yeah what a hero 😂 nepo baby

[@B86432]

​@@sinistan1002if robin hood was rich & cut from the same cloth & lived same lifestyle sure 😂

[@asu5632]

Paging the fbi. FBI this guy advocates for a murderer. If you advocate for murder. You’re just as a bad as an insurance company not paying out. You both have no respect of ethics.

[@brianboeing9799]

Dont blame Insurance, Blame Regulatory System

[@thelivingbranch]

JUST SCREWED ALL OF US FROM OWNERS TO RENTERS THANKS CALI

[@grayson5292]

So State Farm warned of the problem and left the state in 2023 …. And they’re the problem? Insurance is an annual contract, you get coverage during, not before or after.

[@ted_null]

state farm: "hey, this place is prone to fire, you shouldn't be living there, we won't insure something that high risk" californians: "even though we chose to stay in this location with wildfires and earthquakes, it's all climate change/state farm's fault we don't have insurance" ... entitled much?

[@Dis2good]

Just like people who choose to live in the Midwest where there are tornadoes. It makes NO sense!

[@blacksquid270]

By that logic why live anywhere. No geography is completely safe from Mother Nature. Insurance companies are just trying to get out of paying claims as usual.

[@rockingwithrockdog9236]

Now all other insurance companies will refuse to issue policies

[@FelixFederov-u4y]

Unlike the leadership in California, insurance companies saw the risk of unmanaged forests and cut fire budgets.

[@georgecamero7888]

The insurance company never losses. If you want to make money on your insurance the buy stock in the insurance company because that is one thing they can’t deny

[@slevenkelevra3813]

Isn't the purpose of purchasing insurance is to be assured? If so who feels assured of their insurance? You may have better luck at a casino.

[@ThomasFromTN]

If the policy did not state an assurance of covering a given event... Then no assurance was violated.

[@B86432]

The purpose is for the bank which has your mortgage to have their assets insured has nothing to do with you n your stuff

[@sonicgalaxy27]

Yes if their claims gets denied.

[@mysterymayhem7020]

Like a good neighbor, we're there till you actually need us.

[@911KC-m5r]

One thing to make clear is all these people yelling insurance done them wrong, they CHOSE NOT to purchase insurance, over leveraged, fyi fire insurance is for those not living in those properties (they have MULTIPLE properties)

[@DavidDomke]

"How many times do we need to teach you this lesson, old man?"

[@davidlam5122]

More DEI will fix the state.

Yup some confused gender will fix it

[@x-men69-96]

So the insurance knows about the Californian fire risk before the government did? Why don’t you prevent the fire at the first place, but the fire department budget instead?

[@user-zs9ek1bx5z]

why they blame more the Weather.. do they had enough effort of monitoring the fire prone areas, do more preparation and prevention?? 💔💔

[@Trav990]

These companies need to get sued.

[@southwestndn8401]

Thought it said in fine print when you sign the agreement it says may not cover natural disasters ?

[@chinovega7985]

Thats why the goverment should make them cover everyone or dont fucken force it on us to get it

[@edwoo1005]

Fire or homeowner insurance in California is not required by the state or federal government. It is usually required by your lender if you get a mortgage. A mortgage is from a private bank and they can dictate the requirement to get insurance to get a loan. If you don't want insurance, then don't get a loan from these lenders or you have to pay cash or find a lender willing to lend you money without insurance. FYI, if you have no mortgage, you don't need fire or home insurance and the choice is up to you.

[@guineapigzed]

My fully furnished house, four bedroom, four bath home. Ten thousand a month in Simi Valley.

[@CapitalJ247]

The insurance gains can also be fueled by "Shadow" policies where a person pays premiums thinking they are insured. However, they are not insured because titles or deeds, particularly with financed automobiles and mortgages, are not transferred in the buyer's name; Thus, the borrower has no legal claim to the property when a claim is filed. Insurance companies won't tell the borrower this. They will either take over the claim using a "power of attorney" and screw the claimant or just flat-out deny the claim. It's a massive fraud scheme that needs to be addressed.

[@ThomasFromTN]

Policies even on items still on lien deliver to possessors of the property even while paying on the mortgage or loan, where details of what is covered are explicitly outlined. Nobody who bothered to read this information is being blindsided unless they neglected to read that policy. Mortgage and loan documents expansively relate circumstances exposure for culpability may lie with the person paying off that mortgage or loan. It would not be in the best interest of the mortgage or lien holder to withhold that information from the buyer.

[@CapitalJ247]

@@ThomasFromTN What is being said is that insurance companies are originating "shadow policies"; the illusion of coverage but in reality, the premium payer is not covered. This is fraud but quite lucrative for insurance companies. The insurance company can collect premiums and increase earnings while avoiding liability altogether. If there is mortgage fraud, such as fraudulent conveyance, and fake title insurance, particularly in FSBO cases this is something to watch for. The motive for lenders is that they would essentially keep the mortgage loan on their books as an asset since there was no payout from the insurance company. They don't care much about the property if they can keep the borrower stuck in a loan regardless of collateral. There is evidence of this with vehicles and total loss claims.

[@Ms.Robot.]

Home insurance was never designed for a wide scale disaster. Who is designed for periodic instances. The government backed reassurance plans often have people sitting in limbo as we have seen with hurricane Katrina.

[@jayrussell3796]

Insurance companies are in business for a reason.

[@Thapurp]

Wouldn’t be so expensive if these rich people didn’t have unnecessary sized homes

[@FinweTata]

Necessity is relative and subjective. If you ask people from poorer parts of the world, they'd say your lifestyle is also unnecessary and 20 sqft per person is enough living space and clean water is an unnecessary luxury.

[@slevenkelevra3813]

More CEO's have just scrubbed their titles and photos from the internet and upgraded their security do to the"delay, deny, defend policies.

[@Shinzon23]

And that's why people like Anonymous are very gleefully revealing that information whenever possible

[@Thunder_Dome45]

What? They are like a good neighbor.

[@stevenleete]

what happens to all the mortgage companies when there's no house to reposes, and people can't afford to rebuild. this is bad news for California.

[@patrickhall3878]

So it’s not the states fault that the dead brush was 10 feet high and hadn’t been touched in 30 years and the insurance companies said just remove the fire hazard from around the city.. didn’t Gavin say they were going to get rid of it but needed more money..? He took that money and spent it somewhere else…

[@moeshawilliams2668]

Free Luigi

[@arnoldespinoza8309]

I thought u were in good hands with all state thats there moto

[@kenho-wr5ul2rh7m]

insurance is turning into scam nowadays

[@scienceisreal779]

Nationalize the insurance industry!!

[@HamburgersAndPizza]

Insurance is a business. Waiting to see what BS response they come up with for this

[@starventure]

Simple. They have to make sure that their more reliable customers are protected, so they will explain the denials are good business decisions not just in the interest of the usual suspects, like shareholders, but the customers as well. State Farm explains to the rest of the country "We saved you from the reckless Californians", and they come out smelling like roses.

[@AM93000]

The typical response they will come up with is inflation ahahahah

[@Freds_16rs]

so do they still pay on property tax and mortage payments?

[@billybob2372]

Officials asking insurance companies to do the right thing. LOL. I can't stop laughing

[@alypie1624]

Los Angeles Fire Commission did not have one member including the president of LAFD having any expertise in fire management or safety planning. "Recent events highlight the importance of having diverse expertise on critical boards like the Fire Commission. Ensuring members have strong backgrounds in fire management and emergency response can make a significant difference in handling crises effectively. It's crucial that boards reflect the skills needed to address the challenges they face." This group is comprised of social workers and educators with a specilaity in DEI and good friends with mayor Karen Bass. The terribly unfortunate reality is that LA voted this in

[@deadraider420]

State Farm isn’t there? Bundle that sheet

[@denniss9718]

Insurance companies will make their profits, don’t worry about them. The insured, well, they’re screwed…

[@jakeviolet2195]

In a properly managed state, there should be no conflict of interest between the insurance companies and their clients. Nobody should expect insurance companies to pay out more than they make. They are a business, not a charity. And paying out legitimate claims should never become so costly that it forces insurance companies to bow out of a market entirely. If you think it's because they are greedy, then you don't understand how business works. If a business can make a profit, any profit at all, then they will stay in a market. The reason they had to leave California is because they were afraid they would lose money. And that is because the wildfire risk got so high, due to the incompetence and mismanagement of our politicians and public officials, whose job it was the mitigate the wildfire risk.

[@neilkurzman4907]

So you think insurance companies paying out $60 billion in claims for this fire are going to be happy about it? Do you think they have that much money in reserve?

[@neilkurzman4907]

@@jakeviolet2195 You know, it’s funny that people blame the government. There’s a new requirement in California that you need to have fire shutters on your house to stop embers from getting into the eaves. Somebody posted a video of that and everybody in the video wind and complaining that the government is forcing people to spend thousands extra on their houses. When the government tells you to clean all of the brush from against your house. People complain about that because they like the way it looks. When they tell them, don’t put wood chips next to the house. They say don’t tell me what to do.

[@denniss9718]

@@jakeviolet2195, so, do you believe the trees, shrubs and undergrowth can be pruned, mowed and raked In mountainous terrain? That’s pretty much unmanageable. There’s not enough goats nor personnel to reach the areas that need to be managed. And then municipalities have to pay someone to maintain these areas. I’m curious, how much money do insurance company executives make, include the quarterly and annual benefits?