This, along with a lot of other disasters, was created by the guy who the Dems think is their best hope to take on Trump if they can force Joe out. LOL.
“They blame the intensifying risk of climate disasters.”
Geeze, this will never stop. It’s NOT ‘climate disasters’, it’s called LAND MANAGEMENT. And for those not affected by land management, it’s called CRIME.
“Consumer advocates have disputed the claims - paving the way for a painstaking probe over the next few months from the state’s insurance department.”
Actually, if State Farm announces that they are pulling out, completely, on Jan 1, 2025 and blame it on the political climate in that state (not global warming, dingbats), that is likely the BEST WAY to stay in California, as it would FORCE the state government to deal with the situation.
...or call their bluff. But doing so is VERY RISKY for California, for as much fraud and corruption as there is in private insurance, if the state takes over, especially given ‘gorgeous mosaic’ of their ethnic makeup, it will be MUCH, MUCH, worse.
After reading all the comments I’ve this to add. I’ve worked for one of the world’s largest insurance companies for 19 years (I.T., not business side). Yet have come to learn via the company-wide podcasts with the CEOs/higher ups that they are targeting areas to LEAVE. As of now they’re no longer even advertising and quietly closing or moving their office out. Why?
California, Detroit, Chicago...those are the prime examples because (in the words of the ‘big guy’) the liberal courts are much, more likely to rule on the side of the claimant and award outlandish compensation. That and HIGH CRIME rates with little or no penalty for the criminals who continually re-offend. Never were natural disasters mentioned as a reason although Hawaii was mentioned in that the cost to rebuild after the fires would be very, high, but that they were committed to stay in Hawaii.
Things that make you go HMMMM?...
Maybe there are too many claims with all the unlicensed, uninsured illegals driving drunk, killing people on the highway, etc.
What a mess California is🙄
State Farm is the worst. Years ago, they had us as having a fireplace, which we didn’t, to charge more. Then when we got a new vehicle, they put it on a kid to charge more. Evil, evil. Don’t do business with them. Of course, they’re pretty much all the same - $$$$$.
Just need some state-run home/auto insurance.
Lots of areas of this state burn every few decades.
Why should I, as an insurance company, write a policy to cover a home you built in an area that has had a major fire every 20-50 years for the last several thousand?
Redwood trees won’t even propagate without fire (their thick bark defends against almost all normal wildfires, at least it did until we decided to fight *all* fires).
There are lovely areas here in Northern California. Even communities of Constitution-loving ‘good ol’ boys and gals. Hippies, artists, ‘off-grid’ folks. And they are living in areas that ***WILL*** burn in the next 25 years.
If you want a company to insure a house with a 1 in 20 chance of burning in a given year, then they are going to have to charge 1/20th of that value each year (OK, an oversimplification, but basic principle).
Some newer cars with alot more technology and technology related electronic parts and more stuff crammed into the engine bay, have become (a) easier to diagnose a problem, but (b) more expensive to repair than many older cars.(**)EVS are proving to have more expensive maintenance and repair track records than ICE cars, inspite having fewer mechanical parts. Some states have obatined higher auto repair costs, than a national average, than other states for many different reasons. Accident, fire and theft rates vary by state. California I imagine has a combination of negative factors regarding costs of things insurers are covering.
(**) I remeber an article not long ago where someone was reporting the exposion of how many actual parts (mostly due to electronics and computer related technology) that newer cars have today. The report mentioned that with just one make and model car, comaparing the number of parts in the font end of the car 20 years ago, with how many parts in the front end the same make and model has today, went from 70 some parts to over two hundred recently. So, even with a simple collision that crumples the front end, the possible parts that can be damanged and need to be replaced has exploded.
"...and hey gringo, thanks for the catalytic converters too, LOL"
Heck, it cost money to replace a jacked car from a repeat offender that the Soros DA refuses to prosecute.
bye
Yes, we join the thousands whose insurance with State Farm has so drastically risen. In shock, we called our agent with questions...no understandable or agreeable answers, but we decided to keep them for the year while we look around. This is the 2nd thing we’ve seen about their possible financial troubles (both posts on FR). At this point, not enough info. for us.
Get people out of their homes and cars. End private home ownership for the good of all!