I have a question on Fire Insurance Coverage and being dropped

If it wasn’t insurable before it’s not going to be after, so what is the point of rebuilding at peak inflation and interest rates?

quote:

---

California FAIR Plan is similar to Louisiana Citizens, who takes homeowners policies when someone cannot get it in the general market.

---

The CA Fair Plan sucks and doesnt cover everyone
Plus it would be like 30k + a mnth on those homes of they did cover

They were non-renewed at their renewal date and given the opportunity to go buy insurance elsewhere. Just like in Louisiana, California has a Fair Plan for anyone who can’t find insurance on the open market.

Elections at all levels have consequences and the amount of idiots in leadership the last 10 years is showing.

Calibrate states they can’t drop a costumer mid policy without cause (non payment or fraud)

Because Cali would not let insurers raise rates. They stopped renewing policies and writing new ones. Like in coastal regions from hurricanes. Big writers left and smaller ones remained and had extremely high rates. So a lot opted not to get coverage because it was “too expensive”

From my understanding, insurance companies knew the fire risk was high, so they wanted to get high premiums. The state of California told them no, so they canceled policies.

I don’t think there are any other insurance options available.

Exactly. Insurance companies will cover anything as long as they can get their price. When state DOI’s refuse to approve insurers being able to raise rates to cover the risk they pull out of the market.

It’s price fixing by regulation that always resorts in shortages.

quote:

---

It is a big problem here. I was given options in the declaration letter to renew with another group before drop deadline. I was given 3 options..............all cost much more.

---

Florida has Citizens as an option of last resort. Just because it’s more expensive doesn’t mean it’s not priced properly. The issue with the companies leaving Florida was due to insolvency, they weren’t charging the correct premium and when big storms came they didn’t have reserves to cover.

You’re saying it’s a big problem in Florida but you had 3 options

quote:

---

The truth is these people had notice from 2023 that they would be non-renewed. State Farm non-renewed 29,000 homeowners, but they still insure 2 MILLION homes in CA. People love to live based on emotion and not fact

---

Another emotional issue is the over-valuing of RE.

The market is undefeated, and while people have a home with book value x, they can't afford to pay market insurance rates for it, because insurers can't afford to cover the current inflated values of RE.

My comments also are in the aggregate and not towards any specific individual. It's more a plea for people to start understanding this and seeing the impact of their home value going brrrrr

You guys obvious haven’t ever dealt with insurance. I just litigated 5 cases this year that they denied with an average settlement value of over million. I am working on one ad d s bunch of zeros, a bunch.

Repeat for you insurance dick ducking mfers, they paid over million in every case they denied. Why I am a bad mfer lawyer they just caved.

Maybe many years ago, but simple truth is because they really had no defense to any of them. BTW punitive damages were not available in any of these cases we litigated all for over 2 years and these sorry mfer greedy clients included two church’s, and a low income housing complex.

This is how the game is played and I have played it with the mfers 100s of times .

In any significant claim, let’s say over 1 million they will deny 95% of the time. They will claim, Act of God, preexisting storm damage, improper construction, etc etc. They will just pull it out their arse if needed. They will hire essential criminal engineering companies like Rimkus, Hagee, the mfer pos in New Orleans that spun off, that give 90% or more of their business to insurance companies and they produce these 60 page reports that look great but are really cookie cutter bullshite and say whatever they need to say to deny the claim. This gets them out of extra contractual damages in most all states. (Not Louisiana, Florida, Nevada or California and I think maybe Illinois or Washington)

Then you are forced to get a lawyer etc but only about 15-20 % of people do. -and only 5% or so hire the right lawyers.the rest settle cheap or go away. So they are already saving billions.

Then you litigate cases for years and get lucky with some get them thrown out for some bullshite, Daubert challenge
Etc and run up the expenses and time on rest of them and 80% settle cheap. Then you have my cases which are like 10% or so of those filed, they knock our extra contractual damages and even in these cases after years of litigation and expenses we still end up settling because we can’t get attorneys fees or extra contractural damages and clients can’t risk it and Federal Courts want it to go away. So even in those cases handled by good competent lawyers with plenty of experience and funding they win as in best case scenario they are paying what they owe 2-3 years later. Then they pay their lobbyist to get your tax dollars for a payout. They spend billions a year on lobbyist. There will be a huge fire bailout . So they have never ever ever ever and never will pay more than 50% of the actual damage from any major catastrophe event. And most all of their exposure is covered by reinsurance with Lloyds of London. (The Rothchilds of alleged Illuminati's fame)


These mfers don’t deal in billions but trillions. At one time they controlled 40% -60% of wealth in America. I don’t give a flying frick if you are richest mfer in New Orleans etc, they can smash u like a mfering bug. Elon and tech Billionaires hate them and are scared to death of them. They and their cousins in Investment banking can make countries fall. You see insurance is really about investments but that’s a different story.

So if you feel sympathy for these mfers I hope and prey one day your home or business or live is destroyed and you or your family has to deal with them for years seeking to simply get what you owe. Any Christian that loves or supports them is definitely going to hell, and I will be holding the door for you