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Insurers dropped nearly 350,000 California houseowners with wildfire risk


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2019 Aug 23, 5:16pm   802 views  5 comments

by Patrick   ➕follow (55)   💰tip   ignore  

https://www.sacbee.com/news/california/fires/article234161407.html

After two disastrous fire seasons, California officials have been besieged by homeowners in fire-prone areas complaining that their insurance premiums are skyrocketing or their plans are suddenly being dropped.

Now regulators finally have a better idea of just how bad the problem is.

The number of rural homeowners dropped by insurance companies topped 340,000 in just four years, according to figures released Tuesday by Insurance Commissioner Ricardo Lara’s staff.


This is going to drive house prices down because if you can't get insurance, you probably can't get a loan. People would have to buy with cash and take the fire risk themselves.

Comments 1 - 5 of 5        Search these comments

1   HeadSet   2019 Aug 26, 3:33pm  

People would have to buy with cash and take the fire risk themselves.

Good. People who do not build in fire/flood zones should not have higher insurance rates to cover those who do.
2   ForcedTQ   2019 Aug 26, 3:37pm  

Finally, Logic is starting to set in...
3   Booger   2019 Aug 27, 3:37pm  

#FuckCalifornia
4   Booger   2019 Aug 27, 4:20pm  

Insurers dropped nearly 350,000 California houseowners with wildfire risk

5   🎂 Tenpoundbass   2019 Aug 27, 5:13pm  

The upside to this is greater than the downside.
The upside is, if a fire takes your mid century crap shack down. Then you can build a new McMansion worth 5 times what your crap shack was worth
The money you save from not having to buy insurance, you can quickly save up money to replace the whole structure when that 100 year fire strikes.
People not affected should wake and see what a sham and scam the Home owners insurance racket really is.

When Irma took out a portion of my flatroof and errand tree branches put a hole in my other flatroof. The insurance company tried to say those holes were not made by the Hurricane, and only gave me money to patch my first flat roof. The problem with that was. The type of membrane roof I had needs to be replaced from the Tile roof tie in and overlap to the back where the hole was. This meant that the whole roof needed to be replaced. And because the flatroof had an underlayment that rolled off the main roof. It also meant the main roof needed to come up to fix it. Since the barrel tile I had was not made any more, that meant the insurance company needed to replace the tile roof as well. Since more than 60% of the roof was being replaced. Florida Law says the whole roof needs to be replaced.
The insruance tried to cut me a measly $500 check. I called a roofing contractor and he fought the insurance company and got it done. But it took over 18 months before the insurance company finally cut the check. It was in both mine and the contractors name. I had to sign the check over to the contractor. He took another 6 months before he showed up and put Gray tiles when I had been expecting White all along. His excuse was white was all being reserved and sold to big jobs and new construction. That's why we had been waiting 6 months. The thing that pisses me off, I could have had the gray tile 6 months earlier. But all of that is another story.

The point is, I had insurance and did all of the right things. Still my closet in the back room was left wide open and exposed to the elements, for over 2 years. While I was expecting the insurance was cut the check and the roofer was going to put my roof on any day now.

Had I just put that $3 to $4 grand a year in the bank for the previous 10 years. I could have just paid the $30K out of my own pocket, and been the first person in South Florida after Hurricane Irma to get my roof fixed.

Even though my roofer strung me along and pulled a bait and switch. I can't bitch too loud about him. He really did know the laws and building codes that held my insurance companies feet to the fire, after they told me to go pound sand.

Fuck Insurance!
My Mortgage will be paid off July of next year. I started doubling my Mortgage about 4 years ago. All because the insurance company constantly raising my rates, and forcing me to replace shit that wasn't broke while they raised it anyway. The mortgage pays down quick when you decide to beat the fuck out of it. I'll be on the horn the day after my last mortgage payment to the bank, to the insurance company. Canceling my policy and demanding my prorated unused premium back.

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