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i can only see more of this

Old_Me

Old_Me

SAINT

State Farm cancels policies in Pacific Palisades due to rising fire threat in California​




as "man made" and natural disasters strike America, many companies have pulled out some disaster prone areas.

this will not stop. what does a home owner do..??

in trucking, many larger carriers are "self insured" against insurance claims, but they have millions of dollars in revenue each year to do this self insured way of protection.

can the average homeowner have enough funds set aside to be "self insured"..??

i think not.

don't matter the news source, its happening.

 
I hate insurance companies, when the going is good and you have no claims and keep paying them they gladly accept your money. When the crap hits the fan they abandon you! What a joke. Not only should homeowners be upset but banks that secured loans should be upset because without insurance the banks will loose out when homeowners can't afford to pay the mortgage. If I had insurance and that company wouldn't pay out a claim, I wouldn't be able to pay the bank. Try to sue me if everything has been destroyed---I have nothing and you can't get blood from a stone.
 
NMEDGE said:
I hate insurance companies, when the going is good and you have no claims and keep paying them they gladly accept your money. When the crap hits the fan they abandon you! What a joke. Not only should homeowners be upset but banks that secured loans should be upset because without insurance the banks will loose out when homeowners can't afford to pay the mortgage. If I had insurance and that company wouldn't pay out a claim, I wouldn't be able to pay the bank. Try to sue me if everything has been destroyed---I have nothing and you can't get blood from a stone.
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exactly, the banks don't want to own land, they want the cash each month...

true too, we ALL pay millions of dollars for insurance over our lifetime, from perhaps our first set of wheels.

what are they doing with the monies they rake in..??

buy each member of the board a private jet..??

cars, boats, condos, vacations, bonuses,.....???

how about if they just re-invest THAT money instead of doling it out monthly or quarterly..??

how about re-investing monies into higher paying investments?

maybe then, like in my case, DO NOT have full replacement value of the home repairs? but rather what the cost would have been maybe 5 years prior...?

my insurance guy(s) had told me, my premiums would be astronomical if i had "full replacement coverage".....as a senior citizen, i cannot afford those premiums. maybe a high falutin movie star can, but not us "ordinary people", so i take what i can and then move into a condo, or trailer park.

i mean seriously, the insurance industry pulling out of disaster prone areas, will not stop, or they will demand higher coverages at higher premiums, with still Limits on coverages.

what then,, a government bailout for them too...????
 
ECS686 said:
As I understood it several insurance companies refused to take on new policy’s if not for them all together in Florida and California a couple years ago.

I’d like to see their matrix on payouts on things vs intake from folks that don’t have claims.
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I think (at least in my state) the state insurance commission looks at these kinds of things when companies ask for rate increases. My homeowners insurance has almost tripled in cost over the last few years. The payouts are probably huge when a fire hits CA. The cost of housing there (as I understand) is outrageous.
 
somorris said:
Everything (as most of us “old heads” know) is linked. The inflation over the last few years has caused housing construction costs everywhere to skyrocket. There is a lot of internet chatter lately about tiny homes. Wonder why? :)
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tiny homes are cute
for a single person, or as an ADU in your backyard, to collect rent or shove your mother-in-law back there, when she visits. people like me, and the wife, and my reloading stuff, will simply not all fit into a tiny home.

in fact, to me, they make good dog houses for chiuauas, as a great dane's head and ass will stick out of the front and rear doors.
 
How about if they just re-invest THAT money instead of doling it out monthly or quarterly..??
How about re-investing monies into higher paying investments?
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Insurance companies absolutely do re-invest!
Unfortunately insurance companies also need insurance too, it's called reinsurance. Those reinsurance companies have raised their rates to astronomical heights in the last few years or have cancelled the policies for many insurance companies. Maybe you're not aware that in the last 10 years many many smaller insurance companies have been forced out of business due to the fact they cannot insure themselves from disasters.
 
Belt Fed said:
Everything is Trumps fault, even the weather. or least that's what a democrat would tell you.
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And James Woods blames Gavin Newsom and DEI, while donald fires off tweets blaming and complaining. Also stupid and useless. The fact is, things like these fires, more damaging hurricanes, crazy heatwaves and cold snaps, etc and going to keep happening with greater severity and frequency. I would like to see donald do anything to help besides whine on Twitter. This is going to happen a lot during his term, too.
 
OH LORD HOW I HATE TO BE FAIR.
As much as I hate insurance companies, to be fair it is my understanding that State Farm and other insurance companies canceled these policies some weeks back, before the fires, due to changes in the law made by the geniuses that run Calf.
 
bc22wm said:
OH LORD HOW I HATE TO BE FAIR.
As much as I hate insurance companies, to be fair it is my understanding that State Farm and other insurance companies canceled these policies some weeks back, before the fires, due to changes in the law made by the geniuses that run Calf.
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As I understand it, the people in Palisades had just shot down the property taxes to pay for their fire department. Smrt people there, very smrt.
 
benstt said:
Not at all, but they are a complete waste of time. Maybe doing, you know, the work of the president would be more productive once he's sworn in.
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That's what I don't like about trump...... his mouth on social media! Haven't decided if loosing in 20 was a good thing or not! What would the left actually have to run for 24? Possibility of worse outcome than 20 could be possible!
 
benstt said:
And James Woods blames Gavin Newsom and DEI, while donald fires off tweets blaming and complaining. Also stupid and useless. The fact is, things like these fires, more damaging hurricanes, crazy heatwaves and cold snaps, etc and going to keep happening with greater severity and frequency. I would like to see donald do anything to help besides whine on Twitter. This is going to happen a lot during his term, too.
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Lets not forget the environmental Wack jobs have effectively put a stop to cleaning up all underbrush, LA cut its budget for firefighting, there is no water in the hydrants, and they have been giving their firefighting equ. to Ukraine and once again it seems as if the fire once again started in one of the "homeless camps".
benstt said:
As I understand it, the people in Palisades had just shot down the property taxes to pay for their fire department. Smrt people there, very smrt.
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Can't say as I blame them. How much are they supposed to give when their politicians are pissing away money hand over fist on every drug induced fevered dream that enters their head.
 
TEXASforLIFE said:
That's what I don't like about trump...... his mouth on social media!
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And that's what I like! Enough of the mealy mouth, insincere, yellow stain, go along to get along, reDUMBlicans. Shoot from the hip and let the chips fall where they may. I may not like all of his ideas, or the fact that Lil Vik, RFK, and others are anywhere near the Resolute desk, but I'll accept a lot for someone speaking their mind for a change.
 
Annihilator said:
All insurances are scams, you pay all that money and you never have a claim, you just made the company rich, but don’t you dare file a claim, you have to give up one of your testicals just to go over your paperwork and then they most likely will deny it.
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It happens for sure as we had a center pivot damaged by high winds (turned system over). The company used the excuse that the serial numbers didn't match. Serial number locations change and when (in this case) the part that needed repair had that number on it. Service records proved so, but company never paid up. Why would you pay on something that you couldn't prove! I guess felt like giving money away?
 
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