California gives Allstate the greenlight to raise home insurance premiums by 34%

California announced that it will allow Allstate to raise home insurance premiums by 34%. This follows State Farm's move to increase its rates by 20%. Tom Wait reports.

[tamikadaniels]

It’s time to leave California.
Ridiculous prices!

[tamikadaniels]

Highway robbery my grandmother called it.
Highway robbery!!

[wasappeningvato]

Liar!! insurance rates are not more expensive in other States. Too much Greed, it's sick

[onemercilessming]

These guys are late to the party
My house insurance went up $2200 with no warning 2 months ago due to fires that weren't within 100 miles of me.

[akademikusa]

Once it goes up it never comes back down

[susansantana]

Listen to this guy justifying the increase! Wow, way to go California

[avidspots]

Meanwhile, let's give another $50 billion to tackle homelessness

[Jackietreehorn-ze]

I'm lucky in Iowa. Mortgage is $486. Insurances is $100 for my condo, a 2006 F150 and a new Kia Sportage all together. Condo is $193 a year. Car $810 yr, truck $206 a year. All State. I couldn't imagine paying what these people do.

[Wasupup]

Come to New Jersey, we are sinking here with insurance rates.

[ladywisewolf]

This is BS! The insurance companies are in effect blackmailing the state of California. Either they allow them to jack up prices whenever they feel like it or they will leave the state altogether. This blaming it on fires is bull! Other states have severe weather every year with massive property damage : tornados, floods, hurricanes, ice storms and blizzards. Yet their insurance premiums are lower. WHY? We need different leadership in Sacramento, someone with business sense who knows how to negotiate with these insurance companies and a whole different approach!

[rcchesh]

ALL INSURANCE IS A RIP-OFF PROTECTION RACKET. LOOK AT HOW MANY COMMERCIALS THEY ALL RUN .FILE A CLAIM AND THEY EITHER RAISE YOUR RATES OR DROP YOU ALL TOGETHER

[danielsouza]

Leaders in California are sticking it to all of us in California

[Michael-feef]

This will have ripple effects to the rest of the country

[nannerz]

Wait Wait the state has to approve it? That's ridiculous

[TheEqualizer-...]

CA voters, please join the Reform California Organization. They are taking action to reform the CA voting system. CA doesn't verify if voter ballots are legitimate. Reform California is trying to change that. They have a website and videos here on YT. Join the move to reform voting.

[zezar]

My went up 110% earlier this year.. amd i am nowhere near a fire or flood zones..

[DixiecratDemocrat]

Time to call Mercury Insurance and get a quote!

[hectorp]

It could be corruption. More transparency is needed. Till then, there should be a statewide boycott

[Elizabeth-qyzk]

This Dept. of Insurance does not help. Years ago I called needing help with an insurance company denying a claim and they didn't want to know.

[ChasingDifferentAdventures]

On scene 1:45 - 2:25 the guy blames climate change.. it should blame Electric Vehicle's ( EV's )
They're the reason, for property fires in the Summers, the reason for the Drought in California. 7 hour's minimum to 5 days to turn off the fire on each vehicle.. not including multiple vehicles at ones.. Fire Authorities only have at most 2 blankets to cover an suppress oxygen, heat.. they cost from $5, 000 - $10, 000 for car and trucks not included are the size for trailers... like the transport trailers in the 40 highway that was on fire fore 2 plus ➕️ days.