Insurance companies change coverage in California

Homeowners insurance cancelations are becoming all too common, and the competition is dwindling as well

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[loodath]

Think about how much money we pay throughout our lives for insurance. Now think about how often you've actually needed insurance or how often insurance has actually benefited you. It's a scam.

[lbaker]

I live in the midwest, a friend & his wife filed a claim a tree limb had fallen onto their home during a storm. So they filled a claim against it, the ins. company told them since the tree was within 250 feet of the house they were not going to pay/cover the cost. This was the only time they had made a claim in thirty years of paying their home owners ins. They quit their home owners ins. policy ASAP, it was State Farm ins.

[johnrobinson]

Never trust a Politician, Lawyer, Convict, Actor, Narcissist or Insurance Guy 🤡💩👹🤖🤩👾 LIARS

[elizabethpadilla]

it would be nice to be able to deduct property insurance on our income taxes

[LittyJonez]

LA County, Santa Clarita Ca, my property insurance in 2017 started at $1200 a year, this year we are at $2850 a year with Farmers.

[Flipzkizz]

I've been paying insurance for my car for 20 years and not once I have filed a claim and it keeps on increasing year by year... sigh

[richardholmes]

I fled California as a political refugee 2 years ago for Nevada. Here I bought a brand new 2200sqft 4 bdrm 3 full bath house for $495k and my annual homeowners premium is $550. I really miss my home state sometimes but not enough to ever move back.

[jamessantos]

My insurance company declined to renew my homeowners policy. I live in the center of a very large subdivision surrounded by a golf course in the Bay Area. No wildfire risk I can see. Insurers are just wanting to leave California

[billmoran]

If insurance companies don’t want to pay out for policies that customers pay out for years and decades (with no claims), because they say that they are losing money maybe they should do a better job at going after fraud (which is their biggest expense / problem)and not punish the customer that has done their do diligence to maintain required policies.

[mw]

price controls having a predictable effect.

[richatlarge]

It's unacceptable if people can't purchase home insurance, especially when mortgage companies require it.

[ronaldmcdonald]

People don't know how insurance works.
Lots of anger expressed against insurance companies
They don't know insurance is priced to cover the losses of a small number of contract holders

But
1. Entire communities and forests are burned
2. When stores are robbed over and over
3. When cars are broken into and fraud is rampant.

Then the politicians fan the flames of deflection/blame/excuse against the insurance companies.

[MrDdub]

Housing prices are too high. Insurance companies cant afford to fix million dollar fixers that came without a refrigerator. The data from Florida is putting Insurance companies on alert.

[sriceman]

Its 4 major insurance providers basically pulling out of California: home, auto and commercial vehicle. Among trucking/ transport companies, the word is getting around, rates have TRIPPPLED in most cases.

[omegaman]

Here in Florida it's the hurricanes. Every year seems to get at least one. So the big insurance companies saw at a loss and left altogether.

[bernaclischurchill]

But, they don't have a problem of asking for your money and/or sending you a renewal notice with a rate hike, which they never explain & don't care about. They raise your rates, even if you don't have a claim and/or never had a claim. to me, if you have never had a claim - you should be getting at least 50% of your premiums returned to you for NON-USE.

Ms. B. Churchill

[citticat]

Cause the fires and then end the insurance - a great way to steal property right from all under us.

[jaypikachu]

When companies don’t make money then they leave, it is just business how hard to understand.

[keikei]

Ricardo Lara is California’s insurance commissioner. Vote him out. He is responsible for finding a solution to this problem but he hasn’t done a thing but ignore this crisis and it’s only worsening due to his inaction. Call his office, bombard his social media accounts until he actually gives this growing problem the attention it deserves and does his job to fix these issues that are not only just affecting but directly hurting California homeowners and residents. This is a massive problem that needs a leader with the experience and skills to fix it. Ricardo Lara is not the person for this job. He has chosen to continue to ignore the issues and as a result of his incompetence and shocking ineptitude, it has now become a crisis that has developed under his watch; he is responsible for this problem and for fixing it and has done nothing, made zero proposals and offered zero solutions. This is gross negligence!! IMPEACH HIM. He doesn’t deserve to be commissioner and isn’t equipped to handle the job

[DBat-sptp]

We received a cancellation letter from our homeowners insurance last month. We live in Shasta County which has seen it fair share of wildfires. However, we live in town with no big trees or anything that can cause a big wildfire nor do we live anywhere near an area that it can easily spread from. Luckily we were able to get coverage immediately from GEICO . But we may not be so lucky next time if GEICO decides to pull out too. Seems to me that this is one way to make it extremely difficult to own private property because no matter where you live these days there is some sort of risk.