Big insurance companies have pulled back from California, forcing thousands to turn to insurers of last resort. Fire victims say the limited policies will make recovery and rebuilding more difficult.
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We should never have allowed so many homes to be built in the Wildland-Urban-Interface (WUI) so it’s not surprising the insurance companies are pulling out due to increased projected costs from climate change
Not to mention the tariffs making the cost of lumber and other materials go up and the high need for workers make those costs go up. These families are taking hit after hit after hit. This is such an ordeal.
If insurance companies pull out or deny covering damage, the government should seize all assets and pull business licenses. Also a Total ban on all company owners and relations from restarting in the insurance industry again, Prison for ripping people off!
I know it’s useless to state this, but it’s just how I feel. Good and honest business practices are
not enforced and the Government requires you to buy useless insurance.
Power companies need to take some responsibility too. Eaton was started by high tension wires that run up hillsides. During high winds they may arc. Many wildfires are caused by this or transformers blowing out. Undergrounding the would help but there is a cost that cos. would pass to customers.
This is about to become the norm for homeowners in states that are constantly hit with natural disasters. Suprised it took so long to take effect in CA. Louisiana will be next to experience the insurance crunch
it is time to stop mandating insurance in law. if we have to have it by law then they have to provide it by law. insurance companies cannot have it both ways. time to admit, insurance is just ponzie scheme
I believe only drivers are mandated to have insurance. If you're speaking of homeowners in high risk areas like flooding, government can't continue to bail them out.
I’m trying not to be paranoid but were the fires planned? How many of insurance companies are in cahoots with big land developers or buddies with them?
That's what exactly happened in Florida too when it comes to hurricanes. Unless the federal government decides to start a National Wildfire Insurance Program (like the one for flood), insurers will likely continue to avoid covering it.
I absolutely would. It most likely would not address the cost of insurance. Insurance companies agent in the business of assessing homes for fire resistance
These insurance bastards fight for every premium dollar for decades, and go on annual exotic trips every year to celebrate their victories. First sign of trouble, they’re out. Government should allow it.
And these insurers are finding other ways to drop policies, such as (for me) stopping to insure manufactured homes. Even though I had no fire risk, I had to go through CA Fair at quadruple my former rate.
Ladies and gentlemen, this is climate change. It was never supposed to be like "The Day After Tomorrow" or "2012". It's not a single apocalyptic day. It will kill and displace humanity slowly, as natural disasters increase.
Which just goes to show you that insurance companies are not there to help the people. They're there to make money off of them in order to pay their CEOs and stockholders.
If they build more fire-resistive homes they will likely have more options. Yes, it costs more, but it reduces the likelihood of damage by wildfires and insurance companies will be more interested in their risk level. Not much different than needing to build homes above typical flood elevations.
Not true. Zip code is one factor, but fire risk has always been the primary factor. Wood frame is highest risk and highest priced, then brick/stone on wood frame. Noncombustible is lowest price plus discounts for noncombustible roofing. Additional discounts for fire sprinkler system.
You’re hilarious! Actually they do, the agent does, or we collect enough info in other ways. There’s data everywhere - assessor records, photos on internet, and you tell them in your application. There have been 3rd party records about building construction for over 130 years.
I live in an area of wildland fires. Insurance companies decide on your coverage by zip code. Appeals may be necessary.
There have NEVER been discussions on the fire resistance of properties. Never
This is the insurance scam. You pay them in the event you need protection and when you do need it, they tell you to pound sand. If they do that, they should be forced to refund all payments you’ve ever made to them because they have not held up their end of the agreement.
They have seen climate change coming along way back. Unfortunately, politicians and certain agendas decided to ignore it. Once again ordinary folks suffer.
who would sign up to pay you back for a house that's probably going to burn down? y'all fundamentally misapprehend the purpose and function of insurance
Isn't insurance a gamble? A gamble for the insurer and the insured? So why does the company get to raise the cost each year BUT when they " lose the gamble" they can refuse to pay?
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Though I think the vast majority of Americans are cowards, they'll bitch and cry online, and it will never happen.
not enforced and the Government requires you to buy useless insurance.
#315ShutItAllDown
Next battle is zoning and property rights
But that's just me.
There have NEVER been discussions on the fire resistance of properties. Never
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