Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-26-2023, 09:32 PM
 
Location: California
1,638 posts, read 1,107,644 times
Reputation: 2650

Advertisements

https://www.ocregister.com/2023/05/2...alifornia/amp/

State Farm will no longer off limits new policies due to fires, construction costs rising “much faster the man inflation”, and a “challenging reinsurance market”
Reply With Quote Quick reply to this message

 
Old 05-27-2023, 11:18 AM
 
Location: in a galaxy far far away
19,201 posts, read 16,679,971 times
Reputation: 33331
This could be bad for homeowners living in the state. If SF is doing this, others are sure to follow. It may cause problems for new residential and resale properties. Especially, if you must carry a mortgage. Lenders aren't keen on you borrowing money without insuring the property you're buying or building. They can be so persnickety.
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 01:29 PM
 
Location: So Ca
26,719 posts, read 26,782,723 times
Reputation: 24780
Quote:
Originally Posted by HereOnMars View Post
It may cause problems for new residential and resale properties.
That's for sure.

Like A Good Neighbor, State Farm Isn’t There:
https://californiaglobe.com/articles...cations-in-ca/
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 01:45 PM
 
Location: in a galaxy far far away
19,201 posts, read 16,679,971 times
Reputation: 33331
They'll have to change their jingle to . . . ♪♫♪ Unlike a good neighbor, State Farm's not there ♪♪♫
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 02:20 PM
 
Location: Ca expat loving Idaho
5,267 posts, read 4,178,201 times
Reputation: 8139
Every week a new hammer seems to fall in California
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 02:41 PM
 
Location: On the water.
21,727 posts, read 16,331,178 times
Reputation: 19809
Quote:
Originally Posted by Finper View Post
Every week a new hammer seems to fall in California
State Farm is the only insurance company in California?

Did their ad / PR campaigns convince you they are the good guys in white hats just here to help? Hahahahahahahaha. Um, no.

Insurance business is, imho, one of the, if not THE, very worst bunch of opportunists and thieves to ever exist on earth. And what is going on with this decision is the same as goes on with insurance companies everywhere. They assess the risk numbers and reassess constantly. Any circumstance that doesn’t keep the odds to their extreme favor - gets the axe. Check out Florida especially. Check out limitations of coverage in tornado states. Check out flood-prone areas. This is nothing new. And where the old standard bearers decide to pullout new vultures will come in with dazzling rates to cover risks.
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 03:01 PM
 
Location: Ca expat loving Idaho
5,267 posts, read 4,178,201 times
Reputation: 8139
Quote:
Originally Posted by Tulemutt View Post
State Farm is the only insurance company in California?

Did their ad / PR campaigns convince you they are the good guys in white hats just here to help? Hahahahahahahaha. Um, no.

Insurance business is, imho, one of the, if not THE, very worst bunch of opportunists and thieves to ever exist on earth. And what is going on with this decision is the same as goes on with insurance companies everywhere. They assess the risk numbers and reassess constantly. Any circumstance that doesn’t keep the odds to their extreme favor - gets the axe. Check out Florida especially. Check out limitations of coverage in tornado states. Check out flood-prone areas. This is nothing new. And where the old standard bearers decide to pullout new vultures will come in with dazzling rates to cover risks.
This might be the start of a domino. What you think and stated doesn’t help struggling Californians at all
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 03:10 PM
 
Location: On the water.
21,727 posts, read 16,331,178 times
Reputation: 19809
Quote:
Originally Posted by Finper View Post
This might be the start of a domino. What you think and stated doesn’t help struggling Californians at all
I didn’t suggest I was helping struggling Californians. I stated, correctly, that insurance is just about the world’s nastiest business. And the same kinds of exclusionary decisions are made by many insurance companies all the time wherever they don’t like actuarial analyses tipping away from their extreme favor. Other insurers continue to do business in the state and will also continue to do their perpetual actuarial analyses. They may or may not agree. There are places in this country where you can’t get certain kinds of coverage from one major company, but can from another. There are places where the only insurers are high risk vultures. Yup.

The other thing that WILL occur (because it does constantly) is the *fine print* will be constantly adjusted to limit circumstances of coverage. The devil is always in the details. Caveat Emptor.
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 03:48 PM
 
Location: in a galaxy far far away
19,201 posts, read 16,679,971 times
Reputation: 33331
Quote:
Originally Posted by Tulemutt View Post
I stated, correctly, that insurance is just about the world’s nastiest business.
Boy, oh boy, you got that right. My insurance company has me between a rock and hard spot right now. Dirty buggers
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 03:51 PM
 
Location: On the water.
21,727 posts, read 16,331,178 times
Reputation: 19809
Quote:
Originally Posted by HereOnMars View Post
Boy, oh boy, you got that right. My insurance company has me between a rock and hard spot right now. Dirty buggers
Yes. I’m always right Mars. Everyone knows that
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top