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Started By
Message
re: James Woods Lost His Home
Posted on 1/8/25 at 8:33 am to BigBinBR
Posted on 1/8/25 at 8:33 am to BigBinBR
quote:
This is their own fault. If insurance canceled 4 months ago then that’s more than enough time to get another policy. It might not have been cheap, but that’s a risk they decided to take on (ask all the people with property on the coast of Louisiana).
Very true. For a cost, there is always insurance available.
0
Posted on 1/8/25 at 8:34 am to KingOrange
quote:
The Ponze scheme That is the insurance business in this Country is just about Over.
What is the replacement for this “ponzi scheme”?
Posted on 1/8/25 at 8:34 am to idlewatcher
quote:
the mortgage company would require them to be insured.
You think James Woods has a mortgage?
Posted on 1/8/25 at 8:35 am to Nolalakeview
quote:Class action suit against the state for not doing proper forestry management.
Woods also declared that he and many of his neighbors no longer have insurance after a 'major company' supposedly canceled many of the policies four months ago.
Posted on 1/8/25 at 8:37 am to BigBinBR
Evidently there are areas no insurance carrier will cover due to these fires.
Posted on 1/8/25 at 8:42 am to idlewatcher
quote:
The left is going to pile on James just out of spite.
They already are. Some a-hole on X celebrated it as karma for Woods' position on climate change.
Despite having lost everything, Woods slapped him down.
Posted on 1/8/25 at 8:44 am to KingOrange
quote:
The Ponze scheme That is the insurance business in this Country is just about Over.
Your alternative is more government involvement.
Posted on 1/8/25 at 8:50 am to Houag80
quote:
I would assume that most in Palisades and Malibu fully owned their property. Some of the highest net worth individuals in the country.
Yea probably so but there is inherent risk in living there. Earthquakes, fires, homeless peeps.
Wonder what the city/state does if not a single entity would insure homes in an area.
Posted on 1/8/25 at 8:51 am to RogerTheShrubber
Loading Twitter/X Embed...
If tweet fails to load, click here. i wonder if he did clearing and putting in a sprinkler system in lieu of expensive insurance thinking that would be enough?Posted on 1/8/25 at 8:57 am to Night Vision
quote:
Evidently there are areas no insurance carrier will cover due to these fires.
Not true. California has an insurance of last resort (just like almost every other state) for homeowners. It's called FAIR. It's the same as Citizens in Louisiana
For auto, every major insurance company writes auto policies for the areas where the fire occurred/is occurring.
This post was edited on 1/8/25 at 9:36 am
Posted on 1/8/25 at 9:05 am to Nolalakeview
Who picked up on the two inaccuracies in that Daily Mail article?
Posted on 1/8/25 at 9:06 am to texas tortilla
While I’m sad for Woods, this just drives home how each of us, regardless of wealth and resources, must take our own personal prosperity, responsibility, and accountability seriously every single day and always strive to make wise decisions as expeditiously as possible.
You don’t frick around with any valuable asset and go uninsured for 4 days, much less 4 months.
You don’t frick around with any valuable asset and go uninsured for 4 days, much less 4 months.
Posted on 1/8/25 at 9:11 am to LordSaintly
quote:
There has to be someone offering it.
i always thought the mortgage company would force you to purchase a plan from somehwere
Posted on 1/8/25 at 9:13 am to Nolalakeview
quote:
Woods also declared that he and many of his neighbors no longer have insurance after a 'major company' supposedly canceled many of the policies four months ago.
And yet some wonder why people don't care when insurance CEO's get shot.
Posted on 1/8/25 at 9:18 am to Nolalakeview
quote:
Woods also declared that he and many of his neighbors no longer have insurance after a 'major company' supposedly canceled many of the policies four months ago.
Insurance companies shouldn’t be allowed to just do this if you make your premium payments. If they want to cancel they should be required to give at least 3 months notice so you have time to find a new policy or provider.
Basically they can take your money then cancel your policy with no heads up and leave you holding the bag if something happens. They should class action sue over this, and those people can afford top notch attorneys
Posted on 1/8/25 at 9:18 am to idlewatcher
quote:
Were they not insured b/c no one would write them a policy or what? 4 months is a long time and if they had a mortgage on their homes, the mortgage company would require them to be insured
It’s no different than what’s happening in coastal areas of the SE due to hurricane risk and litigation issues.
Underwriters stop underwriting certain areas, the insurance companies drop policies, home owners are left without coverage and either have to sell if they have a mortgage or self-insure if they don’t have a note and want to remain.
This is a major, major issue affecting tens of millions of Americans in blue and red counties.
Posted on 1/8/25 at 9:19 am to Nolalakeview
I don’t know these people, and while I am sorry this has befallen them, I am curious why their losses should register as more important or considered more of a personal loss to be covered in the news whilst other people all over this country have lost as much or more and are never even mentioned in passing. Take the people in hurricane Helene for example. Many of them are still very much homeless and struggling to stay warm, keep themselves fed, and take care of just base necessities to sustain life. Do we know their names? Do we even care? Are their lives any less significant to them, are their children any less important?
Posted on 1/8/25 at 9:20 am to deltaland
quote:
Insurance companies shouldn’t be allowed to just do this if you make your premium payments. If they want to cancel they should be required to give at least 3 months notice so you have time to find a new policy or provider.
When the underwriters stop underwriting for an area there’s no one to switch to.
If the underwriting issue isn’t addressed it’s either areas are left as no go zones or the government has to take on the risk.
Posted on 1/8/25 at 9:21 am to idlewatcher
quote:
Were they not insured b/c no one would write them a policy or what? 4 months is a long time and if they had a mortgage on their homes, the mortgage company would require them to be insured.
The insurance companies won't insure those $Million + homes because of the risk of fire.
Posted on 1/8/25 at 9:21 am to Seldom Seen
quote:
And yet some wonder why people don't care when insurance CEO's get shot.
People who talk like this are low life pieces of shite. Insurance is a business, not a charity. You get canceled, you go buy it elsewhere and pay the piper like every other responsible citizen.
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