3
0

California Companies Cancelling Fire Insurance Using Drones. Pending DEWpocalypse?


 invite response                
2024 Aug 13, 7:40am   288 views  24 comments

by Ceffer   ➕follow (6)   💰tip   ignore  

It appears that a lot of the road digging in places like Santa Cruz are replacing underground pipes along the roads with plastic (DEW resistant?). Houses for sale in areas where insurance has been cancelled?
"Woman Has Insurance Canceled After Company Flew Drone Over Her House"
"A woman who spent hundreds of thousands of dollars on home renovations had her insurance canceled after the company flew a drone over her house and cited unsanitary conditions.

Joan Van Kuren from Modesto, California was furious after receiving a letter from CSAA dropping her insurance citing unacceptable hazards and liability exposure.

After Van Kuren called them, she was told by a CSAA representative that the company had flown a drone over her house.

“It almost feels like someone’s looking in your windows, you know, when they tell you that they flew a drone over your home and looked at it. It’s like, whoa,” she tells CBS Sacramento.

Van Kuren has been with CSAA for almost 40 years and in that time estimates she has paid $80,000 to them. She has spent the last three years renovating her entire property, including her driveway, kitchen, and bathroom."
https://petapixel.com/2024/08/09/woman-has-insurance-canceled-after-company-flew-drone-over-her-house/

view pdf

Comments 1 - 24 of 24        Search these comments

2   RayAmerica   2024 Aug 13, 8:04am  

I once had a client that owned his own insurance agency (family business). He once told me in the strictest confidence that 'homeowner's insurance is a cash cow that is fueled by unrealistic fear. We have many clients that have been paying their premiums for 25+ years, and even if they had a claim, in all likely hood, their policy won't cover it, or, the damage is paid for by their deductible. Almost everyone ends up signing on the dotted line without ever reading the policy, which is lengthy legal speak in small print on purpose.'
3   RayAmerica   2024 Aug 13, 8:06am  

I'm not a 'fan' of Woody Allen, but I never forgot him saying that he "had an uncle that once attempted to commit suicide by breathing deep while standing next to an insurance agent."

In order to be funny, humor has to have some truth to it.
4   DemocratsAreTotallyFucked   2024 Aug 13, 8:50am  

Drone probably violated her privately air rights. She should sue.
5   FortwayeAsFuckJoeBiden   2024 Aug 13, 8:57am  

all insurance is a fucking scam and needs to go away. shit just made everything more expensive.
6   beershrine   2024 Aug 13, 5:44pm  

FortwayeAsFuckJoeBiden says

all insurance is a fucking scam and needs to go away. shit just made everything more expensive.


Wrong, Insurance used to be affordable you pay for the risk but since then the industry has changed and massively regulated so costs have skyrocketed. Just look at what happened in healthcare, These bastards have their fangs in everything,
7   zzyzzx   2024 Aug 23, 8:10am  

https://abc7.com/post/allstate-looking-raise-california-homeowners-insurance-premiums-average/15053839/

Allstate looking to raise California homeowners insurance premiums by average of 34%
8   Patrick   2024 Sep 21, 12:49pm  

https://californiaglobe.com/fl/california-insurance-crisis-homeowners-getting-insured-right-out-of-their-homes/


California Insurance Crisis: Homeowners Getting Insured Right Out of Their Homes

Blame decades of bad California politics

By Katy Grimes, September 17, 2024

... The Globe recently spoke with a couple who shared that the condominium complex in which they reside lost its insurance coverage. “They told our HOA that they just don’t want to insure us anymore,” the husband said.

This is a very nice condominium building.

Consequently, the HOA had to scramble to find new insurance. But the new insurance will cost each of the condo owners an additional $10,000 a year in HOA costs.

“Who can afford an additional $10,000 payment to already high HOA dues?” the husband asked. ...

In June, former State Senator Ted Gaines reported on the insurance crisis for the Globe, in “The Time for Action on Insurance Crisis is Now: Insurance lubricates the entire economy; the current system is broken.”

“Californians need bold and immediate action from the Governor Gavin Newsom and Insurance Commissioner Ricardo Lara to help attract insurers back to the state, create a robust market, and give consumers more options for fire insurance coverage,” Gaines said.

He explained that “rate increase applications are languishing in the Department of Insurance (DOI) for up to two years. Instead of losing money while waiting for rate increases, insurers are pulling out of the state with astonishing speed. It’s likely that everyone reading this knows someone who has been non-renewed by an insurer and unable to find the needed fire insurance required by lenders.” ...

We always knew California’s leftist political policies would catch up to the people paying the bills. But no one expected just how high the bills would be. Or how devastating the costs and cancellations would be. Or how the repercussions would hit every industry in the state. Or how so many business owners would pick up and leave California. Or how many employees would leave the state.

Oh wait – yes we did. We’ve been warning about this since Jerry Brown was reelected as governor in 2011, and finished the state off that he started to destroy in his first term, 1975-1983. We’ve been warning that if Gavin Newsom was elected he would be worse than Jerry Brown. We warned that electing Ricardo Lara to Insurance Commissioner – who has never run a business or even signed the front of a paycheck – would be a disaster…

And here we are – your homeowners insurance has just been cancelled. Will you be forced to dump your single family home?

Now you know how it happened, and even who is to blame, but there will be no indictments.

The real blame falls on California voters; when will the California voter stop supporting dreadful policy makers? When will voters acknowledge that voting for today’s radical Democrats only leads to crisis after crisis?

Nothing will change for Californians until voters rid the state of the Democrat supermajority who wield the power that only harms the people.
9   HeadSet   2024 Sep 22, 9:42am  

Patrick says

“Californians need bold and immediate action from the Governor Gavin Newsom and Insurance Commissioner Ricardo Lara to help attract insurers back to the state, create a robust market, and give consumers more options for fire insurance coverage,” Gaines said.

The solution will be for the State California to be the insurance supplier once they have run the commercial insurers out of state. With taxpayer support, the state can then set special rates for cronies and higher rates for political enemies.
10   Ceffer   2024 Sep 22, 9:51am  

Exploding LI batteries and EMP attacks? DEW redevelopment that most people still don't acknowledge (they seem to acknowledge DEW in foreign countries, so what's in the water supply that idiots the typical Americans?).

Terrorism and war aren't covered in insurance, but when stealth terrorism and war aren't attributed, does insurance hold the bag? Risk management becomes impossible when e cars and solar batteries are remote bombs? As we see, humble pagers and cell phones can explode to start fires, too. Were the the green measures (designed to fail) also the waiting bomb measures?
11   AmericanKulak   2024 Sep 22, 9:57am  

zzyzzx says


Allstate looking to raise California homeowners insurance premiums by average of 34%

I've heard that people in Arizona, Kansas, everywhere are getting 20-30% rate increases. Places where there are no earthquakes, hurricanes, not in tornado alley, not in a flood zone, etc. Also big deductible increases.

Even though natural disasters have been well below predicted levels. Yet another year without a hurricane.

it's because:

Insurance companies are losing bigly on their Commercial Real Estate.
12   stereotomy   2024 Sep 22, 10:42am  

This is why SFR is the way to go. Condo or others of their ilk can defer shit for decades until - BOOOM! - 20K special assessments If SFR is too expensive, then it's time to buy a trailer for the majority of broke-ass America. Condos are a 10-20 year 5-figure inevitable balloon payment once the "special assessments" kick in.
13   Robert Sproul   2024 Sep 22, 4:02pm  

I was dropped this year by the company that had insured my shanty since purchase. New quote was not double, not triple, NOT QUADRUPLE, but nearly 5 TIMES what I had been paying. I wouldn't pay that even if I could. I have a small loan balance so I let the lender force-place a policy that covers their interest. It costs a few hundred bucks a year. I have been spending a little of the 'savings' on fire prevention strategies, PHOS-CHEK spray, roof sprinkler, ordering 200' of 2" firehose to hook up to the hydrant right out in front of my house. Keeping the shrubbery pruned and the gutters cleaned. Once you get used to it it feels kind of good to be free of that particular cartel scam. According to my research even in my 'extreme fire hazard' area the odds of my house burning in a wildfire are 4% in 30 years. I don't know what a rational amount would be to hedge against that risk but it wouldn't be what they are charging.
14   WookieMan   2024 Sep 22, 4:20pm  

stereotomy says

This is why SFR is the way to go. Condo or others of their ilk can defer shit for decades until - BOOOM! - 20K special assessments If SFR is too expensive, then it's time to buy a trailer for the majority of broke-ass America. Condos are a 10-20 year 5-figure inevitable balloon payment once the "special assessments" kick in.

Don't live in condos or those areas. When a house is available here it's $200k for a starter home. Mid level is $400k. Max is about $500k. I don't want it, but we'll have the first 7 figure in town house. Not a record I wanted to beat. We can though.

Not naming events, but if you didn't have fun over the last 20 days in this town, you're a loser. Like big time loser. Soybeans are coming down and we can just roam through the fields. Corn harvest soon. Dropping about $5k into my car with suspension, lift, tires, brakes and some other minor repairs. Geezer car but this fucker is going off road legit style.

I shouldn't have last night, but I just started driving through fields. Afterward I'm like, shit, I can get more out of this car for already needed repairs. I can have a shit ton more fun. Fucking kids reffing soccer and a douche bag forced me to clip another guys mirror. Mine is trashed. Paid the guy, no insurance, so all is good. Single lane road environment and I had the right of way. Cock sucker.
15   anniecoyote   2024 Sep 23, 8:45am  

"Insurance companies are losing bigly on their Commercial Real Estate."
Yes, this. But also....
I used to trade bonds institutionally. At one point involved in municipal bonds, calling up insurance companies. My opinion is that they put extensive amounts of premium monies into long duration fixed income to set aside for payouts and earn income in the meantime. Think about where bond coupons have been in the past 15 years, whether munis, treasuries or corporates....if you have this portfolio and need to sell to cover payouts you are taking tremendous losses. You are sitting on tremendous losses. Not sure how insurance companies are required to structure, but my instinct is they are required to hold money a certain way. They are conservative. They probably can't do things like interest rate swaps or other hedge strategies. So how do you make up these losses? You have to avoid risk and jack up premiums. Just my theory.
16   Ceffer   2024 Sep 23, 10:15am  

In Santa Cruz, we are in a development. They require proof of insurance every year so that if you have a fire and it spreads to other units, you have some kind of coverage.

I don't know why they just don't get some kind of group policy that would cover adjacent damages not covered by primary insurance. It would be a kind of gap coverage, so might not be expensive.
17   stereotomy   2024 Sep 23, 10:34am  

anniecoyote says

"Insurance companies are losing bigly on their Commercial Real Estate."
Yes, this. But also....
I used to trade bonds institutionally. At one point involved in municipal bonds, calling up insurance companies. My opinion is that they put extensive amounts of premium monies into long duration fixed income to set aside for payouts and earn income in the meantime. Think about where bond coupons have been in the past 15 years, whether munis, treasuries or corporates....if you have this portfolio and need to sell to cover payouts you are taking tremendous losses. You are sitting on tremendous losses. Not sure how insurance companies are required to structure, but my instinct is they are required to hold money a certain way. They are conservative. They probably can't do things like interest rate swaps or other hedge strategies. So how do you make up these losses? You have to avoid risk and jack up premiums. Just my theory.

Insurance companies got the deal of a lifetime from 1983 on, when 30-year treasuries were close to 20%, NON-CALLABLE. As rates declined that created a financial profit hurricane at the backs of the insurance companies for almost 40 years. Now, with the end of ZIRP, the chickens have come home to roost, and most of the insurance companies, be it auto, home, or anything else will go bankrupt.
18   Misc   2024 Sep 23, 11:20am  

Will they go bankrupt before or after the banks???
19   stereotomy   2024 Sep 23, 3:12pm  

Misc says

Will they go bankrupt before or after the banks???

Since the banks can lend money into existence, unlike the insurance companies, then it's the insurance companies that will fail first.
20   FortwayeAsFuckJoeBiden   2024 Sep 23, 3:26pm  

beershrine says

FortwayeAsFuckJoeBiden says


all insurance is a fucking scam and needs to go away. shit just made everything more expensive.


Wrong, Insurance used to be affordable you pay for the risk but since then the industry has changed and massively regulated so costs have skyrocketed. Just look at what happened in healthcare, These bastards have their fangs in everything,


past is gone, that’s my point man. insurance today is a scam that needs to go away. especially in healthcare. but i know it won’t, too many hands in that pocket.
21   stereotomy   2024 Sep 23, 3:48pm  

Kill all the lawyers, then:

No lawsuits
No liability
People and corporations can just do shit.
People die or are crippled by incompetence or bad products
Other people learn from the cautionary examples and don't frequent or buy from scumbags.

This all works until:

The scumbags create a monopoly on goods or services so that everyone gets fucked because they have no other choice.
The gub'ment takes over the scumbag monopoly and does just as shitty a job, then passes laws to prevent liability for fucked up shit because "We da Gub'ment!"

Have I missed anything?
22   GNL   2024 Sep 23, 4:18pm  

FortwayeAsFuckJoeBiden says

all insurance is a fucking scam and needs to go away. shit just made everything more expensive.

The entire F.I.R.E. industry.
23   GNL   2024 Sep 23, 5:17pm  

stereotomy says

Misc says


Will they go bankrupt before or after the banks???

Since the banks can lend money into existence, unlike the insurance companies, then it's the insurance companies that will fail first.

What does Buffet have to say about this? Is he still big into Gieco?
24   Eric Holder   2024 Sep 23, 5:24pm  

GNL says

What does Buffet have to say about this? Is he still big into Gieco?


Big? He owns 100% of it. Doesn't get bigger than that.

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions   gaiste