State Farm will no longer insure California businesses or homes

[rborden]

State Farm says the risk is too high in California and will no longer issue homes or businesses there.

I’m hearing from several agents in the industry that other insurers are in the processing of getting out or will be very soon.

I guess all those woke politics and green measures aren’t so popular after all when it affects the bottom line.

State Farm will no longer insure homes, businesses in California due to fire risks and costs

State Farm announced Friday that it will not take new applications for personal line or business property and casualty insurance in the state of California.

www.washingtontimes.com

 

[ShelbyGT5HUN]

Move out while you still can! Don't pack your liberal politics though.

 

[CobraBob]

So, if the insurers pull out of CA, would the state become an insurer? I'm thinking what happens if ALL of the insurers were to pull out.

 

[sleek98]

When the general is the only type of insurer left in ca the premiums will be even more insane for basically no coverage.

 

[Blkkbgt]

This has been happening for a long time, it's not a new decision like the article would have you believe.

Most major insurers won't sell policies in high fire danger areas as is. My area is actually 100% devoid of any major insurance company for this same reason.

The implications are more than they appear because California law states that insurers must sell a minimum number of policies in a zip code.

The idea with this law was to stop insurers from cherry picking homes that are more defensible.

What it in fact does is force them to pull out of entire zip codes.

There's an entirely different state in the Sierra Nevada foot hills and up north that most don't understand exists. It's vast and covers a very large portion of the state, millions of homes. All those areas have few if any major insurers.

While PG&E shares some blame in some of these wild fires a lot can be blamed on dumb **** hippies and it gets overlooked.

How? Simple, for YEARS they wouldn't allow brush clearing of areas along roads or heavily wooded areas. I still see signs around my work area with "Refusal" written on them. Basically they are refusing to allow utilities on their land to clear power lines. Think about the stupidity on that one.

All it takes is one large branch creating a phase to ground fault and shit goes up quick.

Now couple all that with high crime and in areas where would wouldn't even expect it high break in rates.

Again I am speaking from experience here. I used to live in a track home area. Nice manicured lawns and people maintained their homes. Christmas season would start and so would burglaries. I even had a grow house busted 4 houses down from me.

With all that who would want to insure anyone in this place, seriously?

 

[SolarYellow]

Have the lefties of KA demonized State Farm as of yet?

 

[VegasMichael]

They aren't pulling out per se, they are just not taking on any new policies. Be interesting to see if they will cover an existing policy holder who moves to a new house or business property within the state.

 

[Blkkbgt]

They aren't pulling out per se, they are just not taking on any new policies. Be interesting to see if they will cover an existing policy holder who moves to a new house or business property within the state.

I can tell you for a fact that if they move into a high fire danger area they will be dropped.

USAA dropped me when we moved out of Sacramento to our current house because of it. They don't sell policies in our zip code.

 

[Blkkbgt]

Have the lefties of KA demonized State Farm as of yet?

Just wait, they will. It's never their fault it's always evil omni Corp.

 

[Outlaw99]

most of them are moving to texas....so y'all Texan's get ready in about 3-5 years yall will be as blue as the bright summer sky! Its coming.

 

[VegasMichael]

most of them are moving to texas....so y'all Texan's get ready in about 3-5 years yall will be as blue as the bright summer sky! Its coming.

A lot moved to Nevada as well.

 

[2003RedfireVert]

Think of the LGBTQABCDE people they can’t insure now…bigots.

 

[CobraBob]

most of them are moving to texas....so y'all Texan's get ready in about 3-5 years yall will be as blue as the bright summer sky! Its coming.

Yep! Just look at Austin. It's spreading.

Didn't Florida have a similar insurer issue a few years ago, after a few major hurricane claim payouts? I remember my mom's home insurance carrier notified her they no longer would carry policies in Florida. It panicked a lot of homeowners, as I recall.

 

[derklug]

How would you get a mortgage if you can't get insurance? I had to have insurance or the bank would call in the loan, even on cars.

 

[IA Shelby]

If withdrawing from California for P&C insurance is anything like Health Insurance it is a long multi-year process. Some states can be a quick 90 day notice. Others like CA and NY are a long drawn out process.

Voluntarily stopping sales of new policies is the start of the wind Down. At that point the carrier just simply believes they can’t price the policies high enough to cover their losses and this is beyond a cyclical issue.

I will be fascinated to see what happens to Florida in the next 20 years.

 

[DriftwoodSVT]

most of them are moving to texas....so y'all Texan's get ready in about 3-5 years yall will be as blue as the bright summer sky! Its coming.

It's sickening the number of CA plated cars I see here on a daily basis. I can't wait to move in 6 years.

 

[VegasMichael]

It's sickening the number of CA plated cars I see here on a daily basis. I can't wait to move in 6 years.

Where to?

 

[HEMIHUNTER]

most of them are moving to texas....so y'all Texan's get ready in about 3-5 years yall will be as blue as the bright summer sky! Its coming.

Part of the First Round of move into FL are Reps.GTFO of whatever blue shithole the live in.
Blue wave of idiots right behind them.


Sent from my iPhone using the svtperformance.com mobile app

 

[03cobra#694]

If withdrawing from California for P&C insurance is anything like Health Insurance it is a long multi-year process. Some states can be a quick 90 day notice. Others like CA and NY are a long drawn out process.

Voluntarily stopping sales of new policies is the start of the wind Down. At that point the carrier just simply believes they can’t price the policies high enough to cover their losses and this is beyond a cyclical issue.

I will be fascinated to see what happens to Florida in the next 20 years.

It's already happening. I'm hearing some rumblings with some scary rates. Hell, we just got ours cancelled first of the year. No mortgage, so I don't need it, but...be tough to replace a $500K house, not including the property.

Part of the First Round of move into FL are Reps.GTFO of whatever blue shithole the live in.
Blue wave of idiots right behind them.


Sent from my iPhone using the svtperformance.com mobile app

QFT, and they're stupid. See sig.

 

[DriftwoodSVT]

Where to?

Up north to a less populated state. We are taking 2 weeks in July to go looking for land in SD, WY and MT.

I really like what I've seen in Hot Springs / Spearfish parts of SD.