patrick.net

More businesses fleeing San Fran.
https://www.thegatewaypundit.com/2023/05/another-san-francisco-retailer-closes-old-navy-shut/

The libs will say that State Farm is leaving because of all the fire caused by AGW.

Insurance companies are always shifting gears and bailing on risk markets. Maybe they think the DEWs are back and will be phasering a few more California suburban cities like Santa Rosa and Paradise for redevelopers and 15 minute cities (prison ghettos).

I think State Farm left once before then came back later when risk assessments changed.

https://www.latimes.com/business/story/2023-02-21/geico-allstate-start-california-car-insurance-rate-increases-more-ahead

Californians, brace for another bill increase: your car insurance

Some California drivers will be getting a nasty surprise when they open their car insurance bills this year.

That’s because California Insurance Commissioner Ricardo Lara approved some big rate hikes in the last six months, ending a long COVID break after insurance companies complained they were losing money and cutting back in the nation’s largest vehicle market. Higher rates for Geico, Mercury and others are just now showing up in insurance renewal letters that customers receive.

And more increases are in the pipeline, consumer advocates say, even as some insurers have yet to refund customers for premium overcharges during the early months of the pandemic when people were driving less and getting into fewer accidents.

Californians are paying an average of $2,291 in car insurance premiums this year, up $101 from 2022, according to a Bankrate analysis that found premiums rising nationwide as people drive more miles, drive less safely and wreck increasingly expensive cars.

SELF-INSURE FTW!

https://www.policygenius.com/auto-insurance/what-is-self-insured-car-insurance/#:~:text=Some%20states%20allow%20individual%20drivers,and%20consider%20themselves%20self%2Dinsured.

zzyzzx says

premiums rising nationwide as people drive more miles, drive less safely and wreck increasingly expensive cars.

And an increasing number of illegals driving who run from accidents and leave you with an uninsured motorist claim.

I don't think there is a single entity that cares what happens the American working family.

original link

With Farmer's it's mostly about renters insurance increase.

I once had my homeowners insurance rates take a major YOY jump. My agent was surprisingly honest when he said that State Farm invests much of their money in stocks, and when the market is down they have to raise rates.

Nomograph says

I once had my homeowners insurance rates take a major YOY jump. My agent was surprisingly honest when he said that State Farm invests much of their money in stocks, and when the market is down they have to raise rates.

They all do. It doesn't work any other way.

https://sfstandard.com/2024/07/19/california-residents-share-their-insurance-struggles/

California’s insurance crisis became very real this spring for Duncan Brown, president of the homeowners association for an apartment complex in downtown San Jose.

Farmers Insurance had provided the HOA’s insurance for years. But in March, the company abruptly said it would not renew the policy as part of its pullback from the state.

An insurance broker searched for a new provider but faced rejection after rejection. The complex ultimately landed with an insurer that’s not regulated by California and an annual premium that increased from $93,997 to $503,462, with less coverage.

“We were just horrified at the size of the increase,” Brown said. “It was just unbelievable — we expected two or three times more, but not five.”

Faced with paying upfront, the HOA had to borrow from its reserves. Now the association plans to charge unit owners about $2,000 each to account for the increase.

State Farm just put in a regulatory request to raise their multifamily coverage premiums by 50%. 30% for single family.

DemocratsAreTotallyFucked says

State Farm just put in a regulatory request to raise their multifamily coverage premiums by 50%. 30% for single family.

Makes sense. The CA peeps that love their EV's are over taxing the grid. You're going to have transformers blow up and wildfires will go ape shit. I don't know what the EV peeps thought was going to happen in an over regulated state.

The problem is non-EV owners are taking the hit way more for no reason. I hate government to an extent, but in this case CA needs to tax person mile for road use AND utility infrastructure. I think the party is coming to an end for EV owners.