I wish Florida had these limits on how high premiums can go. Many have seen 50 percent increases.
If insurance companies go bankrupt and the state provides the insurance, who do you think is going to absorb the loss....yep, you will pay it as a taxpayer instead of the insured paying for it.
I wonder what would happen if there was a free market in the insurance business.
Insurance is a criminal enterprise. The gates of hell await insurance agents
California needs to be Jettisoned from the 50 states.
“Like a good neighbor State Farm is there”.
State Farm dropped my dear friend after 30 years, and no claims - her area was re-zoned as a “fire hazard” even though there’s never been a fire anywhere near her. She had to scramble to find insurance - called all over the country.
My insurance skyrocketed this year (not State Farm).
I suspect a lot of people are going to go without (paid off house, fixed income, retirees, etc.).
State Farm has to make up the shortfall from California from other states.
Rather than go without any insurance one could increase the deductible and/or lower the limit of liability.
My homeowners insurance company left California. I had a lot of trouble getting a new policy. That ‘s when I put my home up for sale and moved out of California.
Like a bad neighbor State Farm ain’t there
I sure hope Trump doesn’t get pressured into paying for California wildfires.