I am very surprised there aren’t more people commenting on this. I live in nor cal in a wildfire prone area and know people in so cal and nor cal that aren’t in high fire threat areas. In my town and county over the last year or so I’ve seen numerous for sale properties, dozens and dozens of them. Retirees and working class people alike are selling their homes because of insurance. Yes, because of insurance. Not only in high fire threat areas. When I purchased my home in 21 with my income it accounted for roughly 1/3 of my income, and now that’s not the case with insurance climbing every year. If the current trajectory continues, in a few years I will be insured out of my home with my family with it. The CA fair plan offers protection only for the mortgage lender in the event of a fire loss and the “homeowner” is left out to fend for themselves while normal things like flooding, earthquake, personal injury, acts of nature/ god aren’t covered at all, for a VERY STEEP premium. The rest of folks that actually aren’t FORCED onto the fair plan are having their rates jacked up just because insurance companies capitalize on the fact that they can do it with non transparent data, drone flyovers, and for any little petty thing they can ream homeowners for (that have never once filed a claim and have religiously paid premiums for) Insurance companies are destroying the American dream, getting ultra greedy, and have the power and ability to operate like this with impunity and no one’s doing anything about it. It’s a massive scam and needs to be stopped in its tracks, otherwise everyone who owes a mortgage note will be forced out of their home and the ultra wealthy will be the only ones who actually “own” homes. In my opinion there needs to be a law that caps annual insurance increases just like prop 13 with property tax increases otherwise average people and families are in deep trouble. Or just provide the option to for to insurance entirely and make it an optional thing to hold a mortgage note. Stop taking money away from people that don’t have it
2 місяці тому+6
I've been dropped 3 times. I have coverage again now, but I'm not holding my breath that I won't be dropped again. IT'S INSANE what these companies are doing to people, but they could care less AFTER they have their money. WHY all of a sudden the last few years after living here for 30 YEARS???
Because the cost of insurance claims have skyrocketed in the past few years. Inflation, labor, litigation, regulations, costs to rebuild, new zoning, etc. All new houses in California requires solar and other costly rules makes rebuilding (or building a new house) much more expensive. Don't blame the insurance company, blame the politicians who allowed this to happen, which in California is all Democrats (Governor and super majority controlled legislature) for a long time. If you don't like this mess, don't vote for the same people in office now. Vote Democrat and this will only get worse and you only have yourself to blame.
Why? Have you not been watching the news? The forest fires are the worst that they have ever been. This is all due to government mismanagement by letting the forests grow unchecked and become literal Tinder boxes. Who in their right mind is going to go into business to lose money? Not to mention the amount of fraud that occurs.
It's Fox News. Infamous for attacking blue states. The right wing didn't say a thing about Florida 20+ years ago when insurance companies started putting 20-year caps on mortgages due to rising sea levels and storm predictions. companies who have been running scared from the state ever since. Thats a 20 year old story that barely anyone knows about. But the moment a democratically run state, publically owns up to insurance issues associated with environmental stress then the conservative propaganda machine goes into overdrive; desperate to inspire the notion that it's about government management instead of global warming. Because such facts would inspire people towards the policy of mitigating fossil fuel burning, which would subsequently raise the price of oil without the company's consent.
My home insurance went up by $500 monthly! I do not live in a fire area! I should not have to pay extra for living in a major city where there’s never any major fires.
Has your home value increase? Has the replacement cost increased? Has lumber and materials cost increased. Has the cost of labor increase? So, why would the insurance not go up? It's inflation it affect everything you buy or own.
You need to cover those people who live in the fire area. Many insurance company left because they are losing money in California. If we don't allow them to make money, they won't come back.
People are forgetting that this all boils down to politics and our elected leaders not doing their jobs. There needs to be wildfire mitigation, which includes unfortunately clearing land and chopping down trees. Since California has gone on an environmentally tree hugging policy of not cutting down anything, our forests have become overgrown tinder boxes. That is the real issue here. Voters need to start voting with their brains and not their emotions.
Ridiculous to expect insurance companies to cover fire and earthquake ridden areas. Just because people choose to live in high risk areas doesn't make it a company's responsibility to cover them. Don't live in those areas.
This was caused by Prop. 102, you got what you voted for, congratulation's. Next up, single payer state ran home owners' insurance only 900% more than private.
This is awful. Those of us in safe places have to pay for those living in high risk areas. That’s really bad public policy.
I am very surprised there aren’t more people commenting on this. I live in nor cal in a wildfire prone area and know people in so cal and nor cal that aren’t in high fire threat areas. In my town and county over the last year or so I’ve seen numerous for sale properties, dozens and dozens of them. Retirees and working class people alike are selling their homes because of insurance. Yes, because of insurance. Not only in high fire threat areas. When I purchased my home in 21 with my income it accounted for roughly 1/3 of my income, and now that’s not the case with insurance climbing every year. If the current trajectory continues, in a few years I will be insured out of my home with my family with it. The CA fair plan offers protection only for the mortgage lender in the event of a fire loss and the “homeowner” is left out to fend for themselves while normal things like flooding, earthquake, personal injury, acts of nature/ god aren’t covered at all, for a VERY STEEP premium. The rest of folks that actually aren’t FORCED onto the fair plan are having their rates jacked up just because insurance companies capitalize on the fact that they can do it with non transparent data, drone flyovers, and for any little petty thing they can ream homeowners for (that have never once filed a claim and have religiously paid premiums for)
Insurance companies are destroying the American dream, getting ultra greedy, and have the power and ability to operate like this with impunity and no one’s doing anything about it. It’s a massive scam and needs to be stopped in its tracks, otherwise everyone who owes a mortgage note will be forced out of their home and the ultra wealthy will be the only ones who actually “own” homes. In my opinion there needs to be a law that caps annual insurance increases just like prop 13 with property tax increases otherwise average people and families are in deep trouble. Or just provide the option to for to insurance entirely and make it an optional thing to hold a mortgage note. Stop taking money away from people that don’t have it
I've been dropped 3 times. I have coverage again now, but I'm not holding my breath that I won't be dropped again. IT'S INSANE what these companies are doing to people, but they could care less AFTER they have their money. WHY all of a sudden the last few years after living here for 30 YEARS???
Because the cost of insurance claims have skyrocketed in the past few years. Inflation, labor, litigation, regulations, costs to rebuild, new zoning, etc. All new houses in California requires solar and other costly rules makes rebuilding (or building a new house) much more expensive. Don't blame the insurance company, blame the politicians who allowed this to happen, which in California is all Democrats (Governor and super majority controlled legislature) for a long time. If you don't like this mess, don't vote for the same people in office now. Vote Democrat and this will only get worse and you only have yourself to blame.
Why? Have you not been watching the news? The forest fires are the worst that they have ever been. This is all due to government mismanagement by letting the forests grow unchecked and become literal Tinder boxes. Who in their right mind is going to go into business to lose money? Not to mention the amount of fraud that occurs.
It's Fox News. Infamous for attacking blue states. The right wing didn't say a thing about Florida 20+ years ago when insurance companies started putting 20-year caps on mortgages due to rising sea levels and storm predictions. companies who have been running scared from the state ever since. Thats a 20 year old story that barely anyone knows about. But the moment a democratically run state, publically owns up to insurance issues associated with environmental stress then the conservative propaganda machine goes into overdrive; desperate to inspire the notion that it's about government management instead of global warming. Because such facts would inspire people towards the policy of mitigating fossil fuel burning, which would subsequently raise the price of oil without the company's consent.
My home insurance went up by $500 monthly! I do not live in a fire area! I should not have to pay extra for living in a major city where there’s never any major fires.
Call your CA Legislator to stop this.
Has your home value increase? Has the replacement cost increased? Has lumber and materials cost increased. Has the cost of labor increase? So, why would the insurance not go up? It's inflation it affect everything you buy or own.
You need to cover those people who live in the fire area. Many insurance company left because they are losing money in California. If we don't allow them to make money, they won't come back.
People are forgetting that this all boils down to politics and our elected leaders not doing their jobs. There needs to be wildfire mitigation, which includes unfortunately clearing land and chopping down trees. Since California has gone on an environmentally tree hugging policy of not cutting down anything, our forests have become overgrown tinder boxes. That is the real issue here. Voters need to start voting with their brains and not their emotions.
Ridiculous to expect insurance companies to cover fire and earthquake ridden areas. Just because people choose to live in high risk areas doesn't make it a company's responsibility to cover them. Don't live in those areas.
Monopoly
this woman needs to shut up, she adds noting, every comment she makes he disputes, let the man speak, he's the expert.
Many of our elected officials are taking in 500,000+ in donations from the insurance lobby.
Freaking insurance companies.
This was caused by Prop. 102, you got what you voted for, congratulation's.
Next up, single payer state ran home owners' insurance only 900% more than private.