@AeroMysteryFiles insurance companies need investors other than the customers. These are the people pulling out because there's no return. It's not profitable if it's constantly putting out fires. Elections can determine an investors willingness to contribute as well. If the blues are in then the rich reds f off and vice versa. This is why credit unions exist. Banks don't like to share until you pay some interest, usually in the form of a credit card or small loan. Genocidal colonialism usually results in poor upkeep of the land because they've wiped out those who know how to take care of it.
Qick question, why was it ok for your policy, in a safe area, rare increased? I thought price was based off of value and risk factors!? Hmm did the commissioner and governer raise the rates or the insurance company? Who exactly is in control of what you are charged? Another question if suddenly California removed thier insurance regulations, do you think the insurance company will reduce your rate accordingly? Lmao after covid the price of toilet paper never went down...
@greylatern your right... During COVID there were probably very few claims.... I didn't get a discount. But they had record profits and want to keep them because government ain't doing crap.
What would being a "boomer" have to do with anything? There has been more 1:09 political corruption in the last 4 years than in the last 4 decades. When was the last time you heard of a president (at least thats his title) issuing a blanket pardon to his traitorous son, for crimes he MAY have committed over the last 10 years? Even Jimmy Carter would not have done that, and he is now the second worst president in US history, with Joe the joke being the worst.
So you’re saying a company determines it not good for business because someone wants to construct their home in an area prone to wildfire. It’s like the government forcing a business to insure people who love to swim with sharks….. makes no sense
THESE INSURANCE COMPANIES WENT YEARS WITH US PAYING IN WITH NO CLAIMS AND BROKERS LIVE IN MANSIONS. NOW WITH PAY OUTS, THEY TURN US DOWN. WE WILL NEVER FORGET!!!
@normalmanhumanguy1 sure, but then when government starts regulating the crap out of them........they leave the state. Some have already left just cuz they don't want to deal with CA and it's rising costs anymore.
@ that again sounds like a lack of regulation. your business as insurance is just exactly that. being upset cause you may have to pay more to be the business you claim is a lame excuse to leave lol. “my business helps you when you need it! and legally you are required to have us!” “can i file a claim?” “sorry we dont cover anything!”
they sell other insurance, too, such as car insurance. Ca passed a law if they don't continue to sell home insurance they can't sell car and other insurance in the state also
@@UncleDavesKitchen Most will stay. CA has the largest population in the nation. Where will they make thier money? Wyoming where livestock don't qualify for insurance? Florida and thier Hurricane damage and lack of adequate building regulations and infrastructure? Texas where electrical outages cause death in extreme weather??Mississippi where no one can afford it?? Yeah, right. Most will stay, CA is the 5th largest economy on the planet, they can b!7(h all they want, but they will stay.
The politician is saying, don't blame us, blame the insurance lobbyist. They did it behind our backs. We were totally in the dark. That guy makes me laugh cause people buy his lies.
@@bobroberts2371maybe limit the collateral other customers are allowed to shoulder when ultimately 100% of the inflated cost of covering a fire-prone area lies on the damn company claiming to be an insurer. How broken does a system have to be to not be able to sustain itself without arbitrarily punishing innocent bystanders? That’s like taking out civilians until they give humanitarian aid. Backwards. The only they’re insuring is our mutual destruction
@@Catapultout said " 100% of the inflated cost of covering a fire-prone area lies on the damn company claiming to be an insurer. " So you are saying that the insurance co should subsidize the cost of high risk policies? Where will this $ come from? Are you willing to start a company to write policies in these high risk areas? Should be easy $$$ no?
Nothing in the about making sure that forests and mountains are all managed properly so we don't get such huge fires all the time. Insurance companies aren't the culprit. Its govt stealing money and not providing the services they are collecting taxes for.
The forest fires are caused by the state government not managing the forest correctly. This could have been corrected a long time ago. But, this wouldn't fit the climate control agenda they imposed on all of the citizens and businesses.
@@dannyn.3539 Found the misinformed, always blaming a political side. Not our fault they live in high risk areas, similar to people living in Florida in hurricane prone areas. You don't see us whining who they vote for.
For profit home insurance seems to have the same issues as for profit healthcare, for profit policing, and for profit governance. Gee I wonder what they all have in common
Even if it weren't for profit, most people's paid premiums would never total the value of their houses and stuff inside them. Insurance only works when not everyone needs it all at once. "The national average cost of home insurance is $2,304 per year for a policy with a $300,000 dwelling limit. This comes out to about $192 per month" So if it was not for profit and you got every dollar you put in back on average it would take you... 300,000/2,304 = 130 years to put enough into insurance to get your house back on your own dime .... This is not sustainable ...
A bit of a convoluted report… will need to do more research on the subject before forming an opinion either way. That said however, the concept of insurance co’s/corps’ in the first place, for ‘anything’ has long seemed sus…
I live on a mountain in SoCal. I've lived here 18 years, survived two major fires that took out all my neighbors homes. There have been other fires on the mountain that didn't reach us, but threatened other areas. EVERY one of those fires were started by arson, or Edison Electric not replacing old transformers and equipment. I've only experienced one fire started by nature, when a lightning bolt hit the hilltop behind my house. My son called 911, and there was a plane here dumping fire retardant in minutes before it could spread. In 2006, my nearest neighbor's home burned, but even worse is that five firefighters died trying to save that house, when they should have gotten out of there. That fire was arson, they caught the POS who set it, he's doing life without parole at San Quentin. The reason my house has survived these fires? I keep a herd of goats to eat the brush, I have no trees, AND all my electricity is from off-grid solar/wind/batteries. All the solar equipment is housed in an insulated shipping container (fireproof), and my electric cables to the house are underground. I have my own fire hydrant and hoses, and my house is mage of Hardipanel, a concrete tile that is fireproof. One can live safely in fire-prone areas if they never plant landscaping, do not build anything out of wood (all my animal pens are steel). My "landscaping" is ugly, but I like it. It's old rusty farm implements from 100 years ago... yard art! One can have a pretty landscaped yard with trees in the mountains, or one can live safely with 200 ft. clearance of nothing but dirt and rock, like I do. One can't expect trees to not burn! My neighbor's house where the firefighters died, had nothing but palm trees (non-native) surrounding his home, and they burn extremely hot, like a roman candle. No other house out here had such stupid landscaping! It cost the lives of five brave firefighters.
"The national average cost of home insurance is $2,304 per year for a policy with a $300,000 dwelling limit. This comes out to about $192 per month" So if it was not for profit and you got every dollar you put in back on average it would take you... 300,000/2,304 = 130 years to put enough into insurance to get your house back on your own dime .... This is not sustainable ... Insurance only works when not everyone needs it all at once .... Good luck guys ...
If there is no home insurance , then if the house is burned down, the homeowner still has to pay the mortgage. The city or county allows the buildings to be constructed in hazardous areas. It is past time that the government puts in no build areas.
Whenever government gets involved you can bet your bottom dollar that the new law will benefit the billionaires & cost you a lot more $$$. The reason is very simple: the rich own the government & they make the laws, which benefit the very few.
How about not raising my insurance policy and force them to buy wildfire insurance on top of regular insurance. Just like earthquake insurance or renters insurance.
Those who decide to live in high fire risk areas should pay more, but don’t force those who don’t live in those areas to help subsidize them. If you can afford to live on a hillside, you can afford the price. If not, you’re over your head.
so whose paying is it all californians or only those in high risk areas? they should do some sort of self insured program where everyone pays into a pool for those in high risk areas and the claims are paid from that pool.
No thanks......I don't want to pay extra for someone else's problem. We already have to pay high auto insurance rates for the idiots on our road that pose a risk to us along with the higher repair costs.
@@TheHellFlower1 Insurance makes money so they have profit on top of the claims. Some companies do self insurance and they pay a fee to the insurance to administer the program for their employees.
AND… that will reverberate to ALL of us around the nation as we will pick up the tab. These insurance companies will distribute that cost around the country.
It grows back, because fires are a natural part of California ecology. Fire sciences have finally caught on to what our native ancestors knew, you have to let that sh*t burn in the wildlands area, and do prescribed burns when it's safe to do so. There are native plants that require a burn ever so often to propagate, and the charred ash provides nutrients to the soil. I'm saying this even though I have lived off-grid in a wildland area for 18 years, and have been through 2 major wildfires. My house survived both with no damage, because I clear brush until it looks like the surface of the moon for 200 ft. around the house. I have a herd of goats that keep brush and weeds clear, best fire prevention ever! I guess that's why my house is the only one left out here now.
Yes, controlled burns happen regularly in some places in CA to mitigate fire risks. Some public parks and hiking trails etc (near rivers and whatnot) even get goats in to clear away brush every couple of years. Let me guess, you think CA doesn't ""rake the leaves"" to keep fires under control??
@@LazyIRanch Yup. I used to work at a school near a river parkway with bike/hiking trails etc. The city would bring goats around every couple of years to munch away the excess growth. The goats didn't look unhappy, all that wild roughage was likely a welcome change from thier normal hay and pellet diet.
@@rosameryrojas-delcerro1059 Goats are happiest when eating wild brush! I've been keeping goats for 17 years, and my vet says they are very healthy because they eat such a wide variety of plants. They can eat stuff that other animals can't. Much to my surprise (and delight!) one of their favorite plants to eat is poison oak. Now, I don't have any poison oak left on my property! Also, goats are friggin' adorable, lovable animals that are so much fun to have around. Is there _anything_ cuter than a baby goat?? I think not!
@@LazyIRanch I know, the reason cartoons and whatnot portray goats eating tin cans etc is because they can eat just about anything. A handful of animals can eat stuff that is toxic to most of thier neighbors. Probably poison oak for them is like jalapenos for humans, spicy and delicious.
The president of a very large insurance company once told me that there isn't a risk too big to insure. Just a premium too small. Two things are going to happen in the market place in California. Insurance companies are going to leave or your premiums are going to sky rocket. Perhaps both! Substituting actuarial science for the ballot box is not a good idea which you are about to find out.
For-Profit insurance companies. There's your problem. And Rich developers tearing down canyons to build more concrete boxes when they could be taking abandoned industrial areas, cleaning them up and building there.
I see no problem with a for profit insurance company. It is a business, the owners, the workers the investors should be able to make a profit, to be paid. Tell me, do you work for free?
Homes shouldn‘t be built in wildfire prone areas - and CA should have done more over the last 10+ years to get rid of dry brush. CA and Fed fire policy was to suppress fires, resulting in dry brush accumulating, resulting in large fires. The better policy - at least for the trees and brush - is to allow regular fires, so that dry brush is consumed, and trees may perpetuate their natural lifestyle. (Pine cones won‘t even open unless there‘s fire.) The problem is that homes were somehow allowed to be built in these dry brush areas, and nobody wants a home near a fire - except that a fire is not an if but a when. This law will result, like other insurance laws, in insurance companies leaving CA, and this is already happening.
It’s just about buying a house, it will affect rent prices as well. Someone owns that property and pays insurance. Anything that makes homes more expensive to own obviously effects prices and supply.
how about making insurance optional and not forced. if people saved their premiums they could fix house themselves and force insurance to lower prices when no one buys
That should help. With home owner insurance companies leaving California because of the non profitability of providing the insurance, how may I ask will that relieve the situation. From strictly a business point of view, you have to make money to stay in business, otherwise why bother with the business. Like Florida, and many other states, companies pack their bags and leave. Like it or not.
Good, make the people who have the most problem properties pay the most on their premiums. I am sick and tired of making up the difference for them when I am not high risk.
Thanks for the forecast! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Get rid of Newsom and Ricardo Lara, as well as the Democratic supermajority in Sacramento. Vote them all out! These career politicians are in the pockets of insurance companies.
Insurance companies are fleeing California? I know what will get them to stay, forcing them to cover high risk customers. The stupidity of this state's leadership never ceases to amaze me
Why don't these activists open an insurance company? Either the $ to pay risky claims has to be paid by those in risky areas OR be paid be everyone, even those in low risk areas.
Exactly the wrong direction, which significantly expands the amount and profitability of insurance in California. A correct path not tolerable to the insurance biz is a system of setting allowable high deductible plans based on amount of home equity that can be assumed with high confidence; mortgage companies must be required to accept these high deductible plans where the deductible is significantly less than the minimum estimatable equity. It doesn’t help the very recent 3% down people in fire risk areas, but it helps a WHOLE LOT of people. Also we need much lower permit fees and to get California regulatory agencies out of construction, like CARB of all people.
Insurance companies are a business, plain and simple. Their existence is predicated upon generating revenue and profits like all businesses. Premiums are based upon the degree of risk. I do not blame insurers for high tailing it out of California due to extreme risk in new fire and erosion prone areas. Business is business. If resorting to buying homeowner's insurance from the State, so be it. It's not just fire risk. Homes built next to the ocean are included. The highest risk areas REQUIRE enormous premiums, bottom line. This decision by another Newsom lackey is par for the course in my Woke, Progressive State, damn them all.
The Calif. insurance industry is worth over a 123 billion a year. This represents the highest in the World. The state government can exercise some muscle on such vast profits, companies. Florida's approach is a failure. Tornado Ally states are suffering far greater problems.
Just received my renewal in crestline calif. State Farm. $ 8,000.00 for one year homeowners insur. 900 sq ft house. Doubled from last year. $10,000. DEDUCTIBLE
You can't complain when you live in a fire zone. I live in the Cameron Peak fire area and I'd ratheray a hugher cost to be covered. If the mountains aren't your cup of tea, move back to the city. 🙏
Too expensive for anything in California. Not a business friendly state . Plus - insurance companies are scammers . You pay in regularly for long periods of time , but when they have to pay out , they bug out . They are dropping everyone in various areas and regions where there has been and could be the need for payouts in the future . These companies are rich , but they cry poverty when there's a period of time with payouts or if there's something that happens and claims are filed .
The cause of the insurance problem is state policy. The State has failed to maintain the public lands in a manner that actually met with state regulations that the democrat majority cut from.the budget to fund cocial programs for illegal aliens.
Most will stay. CA has the largest population in the nation. Where will they make thier money? Wyoming where livestock don't qualify for insurance? Florida and thier Hurricane damage and lack of adequate building regulations and infrastructure? Texas where electrical outages cause death in extreme weather??Mississippi where no one can afford it?? Yeah, right. Most will stay, CA is the 5th largest economy on the planet, they can b!7(h all they want, but they will stay.
If the government was responsible, it would create a disaster fund, one that is managed to grow with investments perhaps? That way, the insurance companies could have more confidence that they wont bs stuck with the bill when 10,000 homes burn up???
Homeowners and builders also have to do their part. Stop building houses at the bottom of slopes, right next to water, and out in the woods without clearing the growth. It's fun to bash the insurance companies, but don't be that person who is just asking for disaster.
Qiuck question, why was it ok for people's policy, in a safe area, rate to be increased? I thought price was based off of value and risk factors!? Hmm did the commissioner and governer raise the rates or the insurance company? Who exactly is in control of what people are charged? Another question if suddenly California removed thier insurance regulations, do you think the insurance company will reduce everyones rate accordingly? Lmao after covid the price of toilet paper never went down...
Premiums will cost as much as the house annually.
😂 so we all pay and the insurance ppl don't have e money when they have to pay. Ok
@@AeroMysteryFiles You didnt actyally expect them to save money to pay people did you?
Yes, offer vs. provide mandatorily at no cost are 2 different things
Mafia
@AeroMysteryFiles insurance companies need investors other than the customers. These are the people pulling out because there's no return. It's not profitable if it's constantly putting out fires. Elections can determine an investors willingness to contribute as well. If the blues are in then the rich reds f off and vice versa. This is why credit unions exist. Banks don't like to share until you pay some interest, usually in the form of a credit card or small loan.
Genocidal colonialism usually results in poor upkeep of the land because they've wiped out those who know how to take care of it.
So much B s time to get rid of the commissioner and governor... I am not in a fire prone area and my insurance went up 200%.
Same here
They spread the loss out to everyone and if you have never had a claim they don't care.
Qick question, why was it ok for your policy, in a safe area, rare increased? I thought price was based off of value and risk factors!?
Hmm did the commissioner and governer raise the rates or the insurance company? Who exactly is in control of what you are charged?
Another question if suddenly California removed thier insurance regulations, do you think the insurance company will reduce your rate accordingly?
Lmao after covid the price of toilet paper never went down...
@greylatern your right... During COVID there were probably very few claims.... I didn't get a discount. But they had record profits and want to keep them because government ain't doing crap.
Thats how insurance works ....
How about forcing politicians disclose who and which insurance they are in bed with?
We should have been doing that for decades, but, thanks Boomer.
Exactly
Well as you may or may not know, political contributions must be disclosed.
@@williamlloyd3769 Like Clarence Thomas has been?? Just because they are supposed to, does not mean they do...
What would being a "boomer" have to do with anything? There has been more 1:09 political corruption in the last 4 years than in the last 4 decades. When was the last time you heard of a president (at least thats his title) issuing a blanket pardon to his traitorous son, for crimes he MAY have committed over the last 10 years? Even Jimmy Carter would not have done that, and he is now the second worst president in US history, with Joe the joke being the worst.
I live in the San Diego area. I got dropped by Farmers last September. My house is paid off, so I am just going to risk it.
I'm in N. California and people here are having to do the same. I'm not quite paid off but when I am they will probably drop me.
Enjoy living in California....
Where's the new regulation to stop insurance from increasing auto insurance by 50%?
So you’re saying a company determines it not good for business because someone wants to construct their home in an area prone to wildfire. It’s like the government forcing a business to insure people who love to swim with sharks….. makes no sense
THESE INSURANCE COMPANIES WENT YEARS WITH US PAYING IN WITH NO CLAIMS AND BROKERS LIVE IN MANSIONS. NOW WITH PAY OUTS, THEY TURN US DOWN. WE WILL NEVER FORGET!!!
Of course they'll be happy to write premiums if CA is going to force them........but you better be prepared to pay dearly 🤣
Commiefornia
sounds like insurance needs more regulation to prevent them hiking any premium or rates just cause they want more profit
@normalmanhumanguy1 sure, but then when government starts regulating the crap out of them........they leave the state. Some have already left just cuz they don't want to deal with CA and it's rising costs anymore.
@ that again sounds like a lack of regulation.
your business as insurance is just exactly that. being upset cause you may have to pay more to be the business you claim is a lame excuse to leave lol.
“my business helps you when you need it! and legally you are required to have us!”
“can i file a claim?”
“sorry we dont cover anything!”
@normalmanhumanguy1 but unfortunately you can't hold a business hostage in your state to do business
Cost of doing business is making California prohibitively expensive for human habitation.
💯
Happening everywhere!
@@williamkane6155not happening everywhere
Please leave 👏🏾👏🏾👏🏾
It's not only a California issue. Home insurance, cost of living have been increasing all across this country.
What keeps these companies from leaving the state?? If they are losing money they will just leave for states that are profitable!
they sell other insurance, too, such as car insurance. Ca passed a law if they don't continue to sell home insurance they can't sell car and other insurance in the state also
@@jose09841 the very few at the top of ‘all’ “insurance” co’s ARE VERY MUCH ‘ALWAYS’ PROFITING, since the 1980’s
@@UncleDavesKitchen Most will stay. CA has the largest population in the nation. Where will they make thier money? Wyoming where livestock don't qualify for insurance? Florida and thier Hurricane damage and lack of adequate building regulations and infrastructure? Texas where electrical outages cause death in extreme weather??Mississippi where no one can afford it?? Yeah, right. Most will stay, CA is the 5th largest economy on the planet, they can b!7(h all they want, but they will stay.
@@rosameryrojas-delcerro1059 lets see in 5 years if you have the insight you think you do
@@seanbatiz6620 Yep god forbid they have to go without their lavish lifestyles
The politician is saying, don't blame us, blame the insurance lobbyist. They did it behind our backs. We were totally in the dark. That guy makes me laugh cause people buy his lies.
Insurance companies never want to pay or do their job.
Will the insurance co you open write policies in high risk areas?
@@bobroberts2371maybe limit the collateral other customers are allowed to shoulder when ultimately 100% of the inflated cost of covering a fire-prone area lies on the damn company claiming to be an insurer. How broken does a system have to be to not be able to sustain itself without arbitrarily punishing innocent bystanders? That’s like taking out civilians until they give humanitarian aid. Backwards. The only they’re insuring is our mutual destruction
@@Catapultout said " 100% of the inflated cost of covering a fire-prone area lies on the damn company claiming to be an insurer. "
So you are saying that the insurance co should subsidize the cost of high risk policies? Where will this $ come from? Are you willing to start a company to write policies in these high risk areas? Should be easy $$$ no?
How about taking care of our forests closing areas that are fire prone to housing.
Nothing in the about making sure that forests and mountains are all managed properly so we don't get such huge fires all the time. Insurance companies aren't the culprit. Its govt stealing money and not providing the services they are collecting taxes for.
So how do you want the forests and mountains managed....raking them?
Controlled burning has been used for decades.
Who else wants to see Newsom gone for good, recalled, never seen again, investigated, prosecuted and imprisoned? ..
The forest fires are caused by the state government not managing the forest correctly. This could have been corrected a long time ago. But, this wouldn't fit the climate control agenda they imposed on all of the citizens and businesses.
Lets start with you first.
Well my fire insurance has skyrocketed as well as my car insurance in California. I am going to drop both..can’t afford it.
😂 just vote blue no matter who.
@@dannyn.3539 Found the misinformed, always blaming a political side. Not our fault they live in high risk areas, similar to people living in Florida in hurricane prone areas. You don't see us whining who they vote for.
Gavin Newsom needs that 💰
@ are the insurance companies leaving Florida? They are leaving CA.
@@dannyn.3539 Is that a serious question? Of course they are leaving Florida, and a few due to insolvency.
For profit home insurance seems to have the same issues as for profit healthcare, for profit policing, and for profit governance. Gee I wonder what they all have in common
For profit post office coming
Our insurance cartels LOL!
You mean that they work, until some “progressive” know-it-alls get involved?
Even if it weren't for profit, most people's paid premiums would never total the value of their houses and stuff inside them. Insurance only works when not everyone needs it all at once.
"The national average cost of home insurance is $2,304 per year for a policy with a $300,000 dwelling limit. This comes out to about $192 per month"
So if it was not for profit and you got every dollar you put in back on average it would take you... 300,000/2,304 = 130 years to put enough into insurance to get your house back on your own dime .... This is not sustainable ...
How about cutting CEOs salaries and bonuses.
Those aren’t Santa Ana wins. It’s just all the insurance companies leaving in California.
Each year we have to spread em a little bit more
Bend over, give it up, or ship out 😂
Insurance commissioner is working for insurance companies 😮😂😢
Great more regulations costing us more money.
Our insurance is already too expensive. It’s nuts.
A bit of a convoluted report… will need to do more research on the subject before forming an opinion either way.
That said however, the concept of insurance co’s/corps’ in the first place, for ‘anything’ has long seemed sus…
Keyword wildfire .... Caused by nature ! Not man made by electrical failures or arson, better pass another bill or revise it !
I live on a mountain in SoCal. I've lived here 18 years, survived two major fires that took out all my neighbors homes. There have been other fires on the mountain that didn't reach us, but threatened other areas.
EVERY one of those fires were started by arson, or Edison Electric not replacing old transformers and equipment.
I've only experienced one fire started by nature, when a lightning bolt hit the hilltop behind my house. My son called 911, and there was a plane here dumping fire retardant in minutes before it could spread.
In 2006, my nearest neighbor's home burned, but even worse is that five firefighters died trying to save that house, when they should have gotten out of there. That fire was arson, they caught the POS who set it, he's doing life without parole at San Quentin.
The reason my house has survived these fires? I keep a herd of goats to eat the brush, I have no trees, AND all my electricity is from off-grid solar/wind/batteries. All the solar equipment is housed in an insulated shipping container (fireproof), and my electric cables to the house are underground. I have my own fire hydrant and hoses, and my house is mage of Hardipanel, a concrete tile that is fireproof.
One can live safely in fire-prone areas if they never plant landscaping, do not build anything out of wood (all my animal pens are steel). My "landscaping" is ugly, but I like it. It's old rusty farm implements from 100 years ago... yard art!
One can have a pretty landscaped yard with trees in the mountains, or one can live safely with 200 ft. clearance of nothing but dirt and rock, like I do. One can't expect trees to not burn! My neighbor's house where the firefighters died, had nothing but palm trees (non-native) surrounding his home, and they burn extremely hot, like a roman candle. No other house out here had such stupid landscaping! It cost the lives of five brave firefighters.
99.9% of commiefornia fires are man-made. 💯
Ah regulations, the tool of a lazy politician. They always make things worse. We need hard working politicians not lazy ones.
Why is home insurance required? If the owner don't want to insure their house isn't that up to them?
Lara is not on the consumers side, he needs to quit
"The national average cost of home insurance is $2,304 per year for a policy with a $300,000 dwelling limit. This comes out to about $192 per month"
So if it was not for profit and you got every dollar you put in back on average it would take you... 300,000/2,304 = 130 years to put enough into insurance to get your house back on your own dime .... This is not sustainable ... Insurance only works when not everyone needs it all at once .... Good luck guys ...
If there is no home insurance , then if the house is burned down, the homeowner still has to pay the mortgage.
The city or county allows the buildings to be constructed in hazardous areas.
It is past time that the government puts in no build areas.
No insurance = no bank loan = no real estate sold! Welcome to CA🇺🇸
And Florida and Texas and a whole bunch of other states. This is a country wide issue my dude.
"Climate risks", whatever that is, has nothing to do with wild fires. Get a grip lady.
Whenever government gets involved you can bet your bottom dollar that the new law will benefit the billionaires & cost you a lot more $$$. The reason is very simple: the rich own the government & they make the laws, which benefit the very few.
How about not raising my insurance policy and force them to buy wildfire insurance on top of regular insurance. Just like earthquake insurance or renters insurance.
Those who decide to live in high fire risk areas should pay more, but don’t force those who don’t live in those areas to help subsidize them. If you can afford to live on a hillside, you can afford the price. If not, you’re over your head.
Buying in california is insane. Truly the taxes here will just make you sick.
California needs a huge reset
So you're saying that 5,000 isn't enough every year. F this
I was going to buy a property but because of uninsurablility, i kind of give up.
Sellers have the same problem. It's hurting real estate movement.
This is again everyone paying for the comfort of a few.
so whose paying is it all californians or only those in high risk areas? they should do some sort of self insured program where everyone pays into a pool for those in high risk areas and the claims are paid from that pool.
No thanks......I don't want to pay extra for someone else's problem. We already have to pay high auto insurance rates for the idiots on our road that pose a risk to us along with the higher repair costs.
It's almost like you have missed that this is how insurance already works.
It's everyone with a policy. Everyone's rates will go up to pay for the added policies.
Check your premium increase. Mine was 55% increase!
@@TheHellFlower1 Insurance makes money so they have profit on top of the claims. Some companies do self insurance and they pay a fee to the insurance to administer the program for their employees.
AND… that will reverberate to ALL of us around the nation as we will pick up the tab. These insurance companies will distribute that cost around the country.
Is there even anything left to burn?
It grows back, because fires are a natural part of California ecology. Fire sciences have finally caught on to what our native ancestors knew, you have to let that sh*t burn in the wildlands area, and do prescribed burns when it's safe to do so.
There are native plants that require a burn ever so often to propagate, and the charred ash provides nutrients to the soil.
I'm saying this even though I have lived off-grid in a wildland area for 18 years, and have been through 2 major wildfires. My house survived both with no damage, because I clear brush until it looks like the surface of the moon for 200 ft. around the house. I have a herd of goats that keep brush and weeds clear, best fire prevention ever! I guess that's why my house is the only one left out here now.
Yes, controlled burns happen regularly in some places in CA to mitigate fire risks. Some public parks and hiking trails etc (near rivers and whatnot) even get goats in to clear away brush every couple of years. Let me guess, you think CA doesn't ""rake the leaves"" to keep fires under control??
@@LazyIRanch Yup. I used to work at a school near a river parkway with bike/hiking trails etc. The city would bring goats around every couple of years to munch away the excess growth. The goats didn't look unhappy, all that wild roughage was likely a welcome change from thier normal hay and pellet diet.
@@rosameryrojas-delcerro1059 Goats are happiest when eating wild brush! I've been keeping goats for 17 years, and my vet says they are very healthy because they eat such a wide variety of plants. They can eat stuff that other animals can't. Much to my surprise (and delight!) one of their favorite plants to eat is poison oak. Now, I don't have any poison oak left on my property!
Also, goats are friggin' adorable, lovable animals that are so much fun to have around.
Is there _anything_ cuter than a baby goat?? I think not!
@@LazyIRanch I know, the reason cartoons and whatnot portray goats eating tin cans etc is because they can eat just about anything. A handful of animals can eat stuff that is toxic to most of thier neighbors. Probably poison oak for them is like jalapenos for humans, spicy and delicious.
The president of a very large insurance company once told me that there isn't a risk too big to insure. Just a premium too small. Two things are going to happen in the market place in California. Insurance companies are going to leave or your premiums are going to sky rocket. Perhaps both! Substituting actuarial science for the ballot box is not a good idea which you are about to find out.
sounds like a law that should be implemented federally
For-Profit insurance companies. There's your problem. And Rich developers tearing down canyons to build more concrete boxes when they could be taking abandoned industrial areas, cleaning them up and building there.
I see no problem with a for profit insurance company. It is a business, the owners, the workers the investors should be able to make a profit, to be paid. Tell me, do you work for free?
Insurance ompanies should not be forced to do anything.They shouldn't insure any part of the state that is prone to wildfires.
People now know the real cost of building in fire prone areas. This should be a wake up call.
Thing is that many of these areas didn't used to be 'fire prone'
Homes shouldn‘t be built in wildfire prone areas - and CA should have done more over the last 10+ years to get rid of dry brush. CA and Fed fire policy was to suppress fires, resulting in dry brush accumulating, resulting in large fires. The better policy - at least for the trees and brush - is to allow regular fires, so that dry brush is consumed, and trees may perpetuate their natural lifestyle. (Pine cones won‘t even open unless there‘s fire.) The problem is that homes were somehow allowed to be built in these dry brush areas, and nobody wants a home near a fire - except that a fire is not an if but a when.
This law will result, like other insurance laws, in insurance companies leaving CA, and this is already happening.
Insurance Commissioner Lara acts like his job is to protect the insurance companies.
Stop building homes in those areas 😅
It’s just about buying a house, it will affect rent prices as well. Someone owns that property and pays insurance. Anything that makes homes more expensive to own obviously effects prices and supply.
how about making insurance optional and not forced. if people saved their premiums they could fix house themselves and force insurance to lower prices when no one buys
Well, looks like the rest of the insurance companies are leaving now
So, insurance companies will withdraw from the market.
And the answer to that is the insurance companies will simply pull out of California. Politicians are just too stupid sometimes
That should help. With home owner insurance companies leaving California because of the non profitability of providing the insurance, how may I ask will that relieve the situation. From strictly a business point of view, you have to make money to stay in business, otherwise why bother with the business. Like Florida, and many other states, companies pack their bags and leave. Like it or not.
Then the law needs to be repealed.
They are going to make other people subsidize these people next step.
Good, make the people who have the most problem properties pay the most on their premiums. I am sick and tired of making up the difference for them when I am not high risk.
An so now the insurance companies will raise prices or just leave. 😅
Thanks for the forecast! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Pass it on.
It's sad that it takes a fire in a wealthy neighborhood to finally push for something we should have had all along. The premium should not go up.
Get rid of Newsom and Ricardo Lara, as well as the Democratic supermajority in Sacramento. Vote them all out! These career politicians are in the pockets of insurance companies.
Insurance companies are fleeing California? I know what will get them to stay, forcing them to cover high risk customers.
The stupidity of this state's leadership never ceases to amaze me
The comments people making about California only watches local news. Look at homeowners insurance in Florida and then tell me about California.
No they should force them to give all their money back if they have no accidents.
Gavin's fault.
Why don't these activists open an insurance company? Either the $ to pay risky claims has to be paid by those in risky areas OR be paid be everyone, even those in low risk areas.
Exactly the wrong direction, which significantly expands the amount and profitability of insurance in California.
A correct path not tolerable to the insurance biz is a system of setting allowable high deductible plans based on amount of home equity that can be assumed with high confidence; mortgage companies must be required to accept these high deductible plans where the deductible is significantly less than the minimum estimatable equity.
It doesn’t help the very recent 3% down people in fire risk areas, but it helps a WHOLE LOT of people.
Also we need much lower permit fees and to get California regulatory agencies out of construction, like CARB of all people.
Insurance companies are a business, plain and simple. Their existence is predicated upon generating revenue and profits like all businesses. Premiums are based upon the degree of risk. I do not blame insurers for high tailing it out of California due to extreme risk in new fire and erosion prone areas. Business is business. If resorting to buying homeowner's insurance from the State, so be it. It's not just fire risk. Homes built next to the ocean are included. The highest risk areas REQUIRE enormous premiums, bottom line. This decision by another Newsom lackey is par for the course in my Woke, Progressive State, damn them all.
They're also leaving Florida and Texas. So what were you saying???
The Calif. insurance industry is worth over a 123 billion a year. This represents the highest in the World. The state government can exercise some muscle on such vast profits, companies. Florida's approach is a failure. Tornado Ally states are suffering far greater problems.
Just received my renewal in crestline calif. State Farm. $ 8,000.00 for one year homeowners insur. 900 sq ft house. Doubled from last year. $10,000. DEDUCTIBLE
Oh, mamma mia! Release Luigi so he can continue his quest.
You can't complain when you live in a fire zone. I live in the Cameron Peak fire area and I'd ratheray a hugher cost to be covered. If the mountains aren't your cup of tea, move back to the city. 🙏
Too expensive for anything in California.
Not a business friendly state .
Plus - insurance companies are scammers . You pay in regularly for long periods of time , but when they have to pay out , they bug out . They are dropping everyone in various areas and regions where there has been and could be the need for payouts in the future .
These companies are rich , but they cry poverty when there's a period of time with payouts or if there's something that happens and claims are filed .
No wonder no one is buying, can't get a mortgage without hazard insurance.
Insurance companies will be pulling out!
Insurance companies will just leave California.
If you’re blaming the state for higher insurance prices you’re blaming the wrong people.
Nationalize the insurance industry.
They'll raise prices for those that don't live in California. Wildfires aren't a climate issue.
lets see how much the ceo's get
The cause of the insurance problem is state policy. The State has failed to maintain the public lands in a manner that actually met with state regulations that the democrat majority cut from.the budget to fund cocial programs for illegal aliens.
Why are you blaming state policy when the federal government owns 47% of the land in California?
Climate risk?
And renters advocates ask for free rent for everyone
All the carriers will leave. CA government can suck it if they think they are going to tell a business what liability they NEED to have.
More insurance companies will pulll out
Most will stay. CA has the largest population in the nation. Where will they make thier money? Wyoming where livestock don't qualify for insurance? Florida and thier Hurricane damage and lack of adequate building regulations and infrastructure? Texas where electrical outages cause death in extreme weather??Mississippi where no one can afford it?? Yeah, right. Most will stay, CA is the 5th largest economy on the planet, they can b!7(h all they want, but they will stay.
So more insurance companies will just leave California
If the government was responsible, it would create a disaster fund, one that is managed to grow with investments perhaps? That way, the insurance companies could have more confidence that they wont bs stuck with the bill when 10,000 homes burn up???
Offer government wildfire insurance just like earthquake insurance.
Well mother nature has a different insurance plan .
Homeowners and builders also have to do their part. Stop building houses at the bottom of slopes, right next to water, and out in the woods without clearing the growth. It's fun to bash the insurance companies, but don't be that person who is just asking for disaster.
Newsom must go!
Why anyone lives there surprises me
Ricardo Lara isn’t doing much to help
In my area, personal injury, lawyers, give money to Democrat politicians to fight tort reform. Insurance cost double.
Qiuck question, why was it ok for people's policy, in a safe area, rate to be increased? I thought price was based off of value and risk factors!?
Hmm did the commissioner and governer raise the rates or the insurance company? Who exactly is in control of what people are charged?
Another question if suddenly California removed thier insurance regulations, do you think the insurance company will reduce everyones rate accordingly?
Lmao after covid the price of toilet paper never went down...
If I only own 500,000 house they'll charge me for 1,000,000 assessment
Omgosh that means the Insurance company’s are gana raise rates to an Epic High , this is sum BullShet !!!!