re: Insurance rates in the Palisades was cheaper than 97% of all US zip codes.

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Thats insane

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Yea

To be fair that is covering my main house and detached guest house which is large for a guest house at 1400 sq ft heated so they had to consider the cost to rebuild two houses.

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Unsurprising melt is unsurprising,

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You need a dictionary

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No wonder State Farm and other insurers left. The property value and risk kept growing out of control, but the state kept mandating what price they charge to insure these multi million dollar properties with pennies.

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They pulled out due to the risk and rebuild costs, not the property values.

My guess is the people in Palisades will be fine from a financial standpoint. They're either wealthy enough to fund the rebuild on their own (many without even blinking an eye), or, were sophisticated enough to find the insurance that was available since most of the "standard" carriers won't write.

Places like altadena and sylmar are a different story. I'm not sure if altadena is considered a brush area, but if it was, most carriers weren't writing. Hopefully these folks had coverage through the state sponsored program (FAIR plan).

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The cost to build now is going to astronomical due to the demand.

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Which is exactly why people should be insured for 100% of their replacement cost or at least 80% of it because most insurers are going to give you up to 20% or maybe even more in some cases extra in the event you need it. All these people affected by the fires are definitely going to need that extra bit.

Yes, melt. Totally unnecessary ad hom is pretty much the definition of melting.

I could have called you names or said your way of thinking is stupid, but I didn't. You just can't help yourself though. Some might say you were chomping at the bit to sling shite at me

And your point?

Do you think the folks that do have insurance will actually have adequate coverage for all of what they face if they try to rebuild over the coming 3-5 years? We shall find out.

And that's why 7 of the top 12 insurers pulled out of the state, their rates were kept artificially low.

Another example of California mismanagement.

And as we've seen in the Gulf states, this event is gonna have a snowball effect and wreck rates, insurerers and property owners alike.

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Kind of a flawed way of analyzing it when so much of the value of the property is from the land value.

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So what had the value that required the higher premiums in New Orleans? The filled in swamp land or the shitty home on top of it?

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Some might say you were chomping at the bit to sling shite at me

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You've already got shite for brains...I wouldn't want to add to that. And you can

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ad hom

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on these nuts

Yep, no melts here