Posted on 03/30/2024 5:43:17 AM PDT by cuz1961
... Reading insurance trade magazines isn't everyone's idea of a great time, but every Californian should pay attention to the latest news in that arcane world. "State Farm to pull out of 72,000 California insurance policies," blared a Reinsurance News headline. State Farm provides nearly 21 percent of state homeowner policies, so this is big news. Last year, it stopped writing new homeowner policies. Now it's "non-renewing" existing ones and getting out of apartment policies entirely....
(Excerpt) Read more at yahoo.com ...
The state of Florida and California are having a rough time. But it will settle down. I’m a little worried about this hurricane season as they predict a doozie.
When will politicians learn that the laws of Supply and Demand don’t care what they think. It’s a system of resource allocation that functions better on its own without political intervention.
51% to change the state constitution. Welcome to the state of Canutefornia.
They won't. Ever.
This happened in Louisiana with auto insurance.
tou all see the tactic ?
this is a seige against low and middle class private property.
no one will be able to finance a house without insurance.
soon all the other companies will cancel policys and leave state.
then the commies wait till the current owners die .
end of private property.
am i missing something ?
if politicians were educable..they would’nt need to be politicians!!
They could be teachers...
California, and liberals in general, have a knee jerk response to every problem: when people complain about prices, just pass a law that won’t allow the sellers to raise prices. Problem solved. Don’t consider the solvency of the industry, or consider the possibility of the industry relocating. But when they fail or move, accuse them of racism. They don’t offer constructive solutions, but allow their constituents to embellish their status as victims. Ultimately, the victims response will be to attack the industries, as well as local governments, then capitalists, Christians and the middle class. Can we then see who is behind this thought process? Who benefits?
What's that line from Father land?
- Anna Von Hagen: We put them in cattle cars and shipped them east. Always east.
- Charlie Maguire: To the Ukraine, you mean? To the resettlement camps?
- Anna Von Hagen: Ja, we resettle them. In the air.” twirls her finger up "As smoke."
If government wants to lower insurance rates, there are things they can do like increase the infrastructure for public safety (i.e. proximity of fire hydrants to residences), upgrade building codes in hurricane/tornado prone areas, and aggressively enforce crimes against property to lower theft and vandalism rates and reduce the overall risks citizens are asking the insurance companies to take on.
That takes too much thought and effort on the part of our thick-skulled pols who think they can simply set rates by fiat from on high.
There can't be a cogent thought process behind it or it wouldn't be happening. Many economic solutions are based on the "long run", but the long run to politicians is their term of office. That's why giving away OUR money to illegals and non-productive members of society is their to solution to all problems.
Also, re: my #13, one of the main contributors to skyrocketing insurance rates in the COVID and post-COVID era are supply chain issues. Building materials and vehicle repair parts have all seen significant price hikes which of course will contribute to the costs of fixing a vehicle or a residence after a covered loss. Some of contributors to supply chain issues are also within the control of government, but they have also failed in that regard as well.
You can’t buy SF homeowners insurance.
SF left Florida after Hurricane Andrew...
Most everyone with an IQ above par golf, realized a long time ago that when the State dictates how much you can charge and then dictates how much you must PAY out in claims, was going to force them all to leave the State.
I can’t get an answer to an easy statistical question from the net: “How many homes does State Farm Insurance insure in California?”
How hard can that be?
All I get is article after article about the stoppage of new insurance writing.
The truth? You can’t handle the truth!
I don’t think it was State Farm but an insurance company partnered with a drone/satellite company and then tied the addresses of homeowners to the images and if there were any trees near the covered homes, they were given 90 days to trim or remove the tree before the homeowner policy was canceled.
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.