Posted on 04/26/2024 6:23:26 AM PDT by vespa300
Amid the ongoing insurance crisis in California, Allstate says it could soon resume writing new policies, though the move would come with some conditions.
Allstate Insurance stopped writing new homeowners policies in California two years ago but says it may start offering them again if the state Department of Insurance will allow them to use catastrophic modeling when requesting rate increases.
Catastrophic models are computerized reports that simulate potential catastrophic events and could be used to justify rate increases.
(Excerpt) Read more at nbcbayarea.com ...
Since every wildfire or flood we have in this State is blamed on climate change, they just need to EXEMPT all climate change related claims from any coverage.
I assume this is how they calculate rate increases in the rest of the US.
Allstate. Good luck getting them to pay when you have a claim.
yeah, my general contractor who remodeled our home and works with insurance companies said they pretty much suck when it comes to claims. Farmers is good. They paid me a lot for my water damage.
One of my contractors told me he won’t take A job if All state is the insurer.
I used to have Farmers and they’re great. Travelers has treated us well also.
The purpose of being an insurance company is to make a profit. If there is no profit then there is no point in being in business.
The banks require insurance on the properties for which they hold mortgages.
All State is maneuvering to force banks to be politically active in the Marxist state of California and eliminate unprofitable populist controls on profits.
I have California Casualty - not sure if you need to be a state employee to access. They are extremely responsive - I’ve been hit twice and was able to get the car into an auto body shop that day, got a rental car easily and they paid out quickly. Have been very happy with their auto service.
Home insurance, however, has gone up by a lot - my neighbor’s went up so much he called and asked what was going on - he’d filed no claims (this is Farmers) - he was told because there were so many claims filed for flood and fire all over the state that they had no choice but to raise everyone’s rates.
In addition to natural catastrophes, the catastrophic models should be tuned to include the impact of catastrophic legislation because of overzealous ideologues in Sacramento.
Bingo
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.