CA home insurance disaster

[VitaMan]

Under the FAIR act, anyone in CA that has home insurance may get a bill to cover unfunded claims.

No one can even can estimate the size of the claims.

This in itself is a disaster.

[Unique_Carpenter]

And they amusing thing is that Calif politicos think they can forse insurance cos to stay in business. There's no way to keep Insurance companies in the state. If they can't pull out, they'll simply go out of business and wave good-by regardless. Remember, Federal bankruptcy law overrides any state laws.

Remember, any insurance is simply legalized betting, and the insurance cos are the bookies.

I'm simply waiting for the San Andreas fault to drop a large bit of Calif into the Pacific. That will solve several issues.

[bb1961]

Hopefully Gov Grusom will be on that part...

[royamcr]

What will the poor and destitute maga states do without massive funding from the 4th largest economy in the world? Maga states are sucking the life out of this country.

[VitaMan]

I think it was State Farm that started not renewing existing policies, around May of 2024. That saved them a "bundle".


You can't force insurance companies to provide insurance. I have seen some figures that mention the FAIR state insurance has around $ 5 billion to cover the disaster.......while the disaster is estimated with just a guess to be tens of billions.


Some homeowners had no insurance. Average home value in that area is $ 3.5 million.


A true disaster.

[Salty Again]

Originally Posted by royamcr

What will the poor and destitute maga states do without massive funding from the 4th largest economy in the world? Maga states are sucking the life out of this country.

... WAS - the 4th largest economy in the world. ...

You wanna address the thread topic? .. How will the
re-builders from the fire (and everybody else) ever
get home insure in the future??

#### Salty

[biomed1]

#6 - Respect the topics presented by those who start a thread. Attempts to derail a thread or change it's direction is referred to as thread hijack and will be discouraged. Attempts to guide a thread in the right direction are appreciated, while responses to posts which hijack a thread are not.

[Precious_b]

Originally Posted by Salty Again

... WAS - the 4th largest economy in the world. ...

You wanna address the thread topic? .. How will the
re-builders from the fire (and everybody else) ever
get home insure in the future??

#### Salty

By meeting building standards that meet code for fire resistance and safety?