California home insurance: At least three companies have stopped offering policies | To The Point

California home insurance: At least three companies have stopped offering policies | To The Point

[ananda_miaoyin]

I was happy that State Farm continued my coverage after the Caldor Fire burned my home.
Fair plan sucks.

[joelcleare]

No more shopping around for the cheapest rate. Be lucky to get what you get.

[TheRealCrimdor]

This should be national news.

It’s crazy to me how msnbc and cnn won’t even dare to talk about the issues happening in our state.

[barneybarret]

I know this sucks for people, but its simple economics and risk assessment. No company will take way less than 1% of the rebuild costs of a house as a premium if the chance they will have to pay out that rebuild costs is now assessed to be much more likely or almost inevitable as global warming continues. This will lead to a big drop in house values and the risk of living in such a nice part of the world will be on the home owners.

[persiancucumber]

You will have to go to CA Fair Plan (of course its the gov) for Fire in "at risk" fire areas. 500k home fire coverage starts at $250/mo+ with a ridicululous deductible. Got to love the wild west. 😊😊🧂🧂

[lutomson]

I got dropped by Nationwide and had to go to the insurance pool as our idiot governor did nothing, thank goodness state farm took me back, and I live in a city not rural...

[rkwwcmv]

Probably a good time for those in the rural areas to sell and leave the state. I can only see rates increasing resulting in the reduction of property values.

[peni]

Allstate & State Farm, other insurance companies are inpart the cause of the increase in wildfires. A lot of mountain had been sliced and diced to build home on them with insurance companies like Allstate & State Farm as their home owner insurance coverage.

[Jetski]

So let me get this straight. Insurance companies are happy to take your money as long as you don’t need them, but after you’ve paid into it with hundreds of thousands of your dollars, they dump you when you actually need to use it.

We ought to just pay FEMA instead of these insurance companies

[williewonka]

So, this is related to the voter proposition. Be careful what you ask for.

[bigsull]

Am I the only one to notice that these are two strong looking mitches

[owenbondurant]

Only in America are companies allowed to do this.