Florida is a Republican state and insurance companies have left. The ongoing climate disaster and downfall of America is an unavoidable reality that all will have to deal with.
CA is definitely NOT "climate change". Definitely the governments mishandling of the situation. Everyone knew this was going to happen, called it years ago. That's why insurance companies didn't CANCEL policies, they non-renewed them, legally it's a big difference. They all saw this years in advance, tried to tell CA and CA did nothing. As for Florida, climate change still doesn't apply because if you look at stats (not just the media), you'll see hurricanes haven't changed much. Insurance companies are pulling out of they're simply because they are losing money and the rates they need to charge to not lose money are too high, so they left. People want more expensive things but don't realize that when a hurricane hits, those things have to be replaced and that costs more.
If I owned an insurance company I wouldn’t write a fire policy for states who didn’t do anything to prevent fires either… ex .. sweeping brush! Thank your mayor and governor.
I don't like insurance as much as the next guy, but if 7 out of 12 insurance companies won't give policies in your state, it is a states problem not an insurance problem.
@@fuzzyschwartz climate change….and if you have air - it’s coming to your state someday too ….and expect insurance to charge twice - so they can make a killing of you
Chickens coming home to roost. You can't continue to do stupid things and not expect bad consequences. No water in the reservoir during peak fire season? Cut the fire dept budget by $17,000,000? Fire hydrants with no water? DEI instead of competency?
Wasn't 3 million when they bought it. (Except for the Palisades) The other neighborhoods were super affordable back in the day. A lot of these homes are inherited
Your insurance policy which can have different repayment and rebuild values l is based on what your home costs currently to replace. If you bought it for 50k 25 years ago and is worth 900k in 2025, you are paying current value rates.
I had a minor fender bender back in July.I was at fault for $3600 in damages.I was paying $290 every 6 months and my insurance agency wanted to increase it to $875 every 6 months.I am switching to State Farm and will pay $475 every 6 months for basic liability on a 2003 Honda Accord here in Raleigh NC.
It is not really rocket science, to look at mitigation or lack of it, in the brush lands and forests. If you are an insurance company, you are there to make money….we consumers want to have a 500k house and insure it completely for $1700 a year. Also, there are so many policies and permitting obstacles……Cali is doomed. Oh and let’s keep voting democrat, we are walking off the cliff, while mayors are missing, Governors are incompetent and progressive/woke is more important than people.
@@donaldhopkins1476not a political blame game, simply stating facts. CA knew this was a risk for decades. Not only did they not mitigate it, they adopted policies that exacerbated the problem.
The Palisades area has been a fire threat since the big drought back in the 1970’s. But, when CA stopped clearing all the brush and debris in the open spaces, that’s when the insurance companies started taking notice. But, I agree that the timing is very suspect
They did it country wife you moron. Did they light all fires around the country? At what point in history could they have canceled these without a major fire happening after? Basicly im showing your dumb ass that it would have always looked like this but your to stupid to actually think
Some people will literally argue that I should be able to build a million dollar house in an active volcano and insurance companies should have to offer me volcano protection. At some point you have to take responsibility for your self. You pick where you live and if you choose to live somewhere that is prone to shit like this, why would a 3rd party take on that responsibility? Why should they have to?
@@mikenismogtrexactly. That's what happened in CA except the government said you legally can't charge that much. So the insurance companies said "byeee!"
The average cost of a home in zip 90210 is 4.5 - 5 million ok let's see ten thousand dollars in insurance for these properties a year OH MY MY OH I PAY ONE FORTH OF THAT FOR 200 HUNDRED THOUSAND & CALIFORNIA'S ARE COMPLAINING INSANE INSANE INSANE INSURANCE COMPANIES NEED TO MASS LEAVE -,STATE FARM &OTHERS ARE SAINTS FOR PUTTING UP WITH THIS .
Totally agree with you. Health Insurance and Home Owner’s Insurance premiums are way, way to high, then, when you make a claim, the insurance companies fight it, deny claims, and even make suffering people sue them for your claims to be paid. Ridiculous that people are required to have homeowners insurance to have a mortgage. Mortgage lenders make tons of $, especially when the first 5 years of a mortgage, almost all of your payment is going towards interest. Scams - all of them. IMHO
Insurers should offer a policy which excludes claims based on fire, water, wind, land movement etc. What would be covered is asteroids, planes or meteors crashing into the house. Of course houses within five miles of an airport would have an exclusion for the planes.
Three things to know about insurance. 1. There is no risk too big to insure. Just a premium too small. 2. Actuaries drive forward by looking in their rearview mirrors. Lastly, math wins every time despite what a woke insurance commissioner decrees.
There should be a moratorium of how big a single house after a fire can be in a burnout area like LA and other places in California. Keep the single housing under 3000 Sq. Ft. and use non-combustible materials on roofs and siding. Build more apartments because we have a housing shortage everywhere. The State of CA should have a Fire Fund Insurance program for the entire state for which everyone pays into ... This would keep Insurance for Profit to disappear completely from the state of California. Everything seems to be "For Profit" these days and it has to end. You all know the Fire situation in CA can strike anywhere without notice. It could be in anyone's backyard- wealthy and or not wealthy and strike at any time. The 4 Elements, Earth (Fuel that are Trees and Kindling- Landscape), Air (Wind), Fire, and Water (floods) ... Are 5th dimensional in their form ... The Elements are elevated extreme and a 3 D world can't handle it. Time for change. The City of Angels is going through a "Cleansing" process, like many other parts of California and other states too as well.
Thank you so much for this amazing video! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (mistake turkey blossom warfare blade until bachelor fall squeeze today flee guitar). How can I transfer them to Binance?
Couldnt get insurance? Isnt Lloyds of London or what ever it is still in business. They would insure anything if you had enough money. Well maybe not in California to much stupid.
I swear to God,I just paid home insurance for a year,if on renewal insurance rise up because of California,I'm going to sue insurance company. I don't give a fuck anymore.
That ìs the reason why we have insurance .I feel the government needs to step in!!! enough enough ,they collect millions of dollars but when they need to cover they deny !!!!
The insurance companies are forced to pull out of california because of bad california laws.
Florida is a Republican state and insurance companies have left. The ongoing climate disaster and downfall of America is an unavoidable reality that all will have to deal with.
CA is definitely NOT "climate change". Definitely the governments mishandling of the situation. Everyone knew this was going to happen, called it years ago. That's why insurance companies didn't CANCEL policies, they non-renewed them, legally it's a big difference. They all saw this years in advance, tried to tell CA and CA did nothing.
As for Florida, climate change still doesn't apply because if you look at stats (not just the media), you'll see hurricanes haven't changed much. Insurance companies are pulling out of they're simply because they are losing money and the rates they need to charge to not lose money are too high, so they left. People want more expensive things but don't realize that when a hurricane hits, those things have to be replaced and that costs more.
If I owned an insurance company I wouldn’t write a fire policy for states who didn’t do anything to prevent fires either… ex .. sweeping brush! Thank your mayor and governor.
I don't like insurance as much as the next guy, but if 7 out of 12 insurance companies won't give policies in your state, it is a states problem not an insurance problem.
Sounds like a Climate Change problem…Texas ? Florida?
both?????
@@michaelWells-ef9bx nonsense
Insurance is based on the property price, so when prices go up so does the cost of insurance. Not like they aren't making enough money from us....
@@fuzzyschwartz climate change….and if you have air - it’s coming to your state someday too ….and expect insurance to charge twice - so they can make a killing of you
Chickens coming home to roost. You can't continue to do stupid things and not expect bad consequences. No water in the reservoir during peak fire season? Cut the fire dept budget by $17,000,000? Fire hydrants with no water? DEI instead of competency?
I am pleased my carrier here in PA started dropping renewals in CA over 2 years ago.
State Farm dropped insurance coverage in CA early last year, not just the other day…
Exactly. Media trying to find someone to pin this on other than those responsible: Newsom, Bass, and the other leaders for the last few decades.
Huh?
If you can afford a $3 million dollar home, you can afford $10,000 to insure it. 🤷
Wasn't 3 million when they bought it. (Except for the Palisades) The other neighborhoods were super affordable back in the day. A lot of these homes are inherited
@everythingisfine9988 What year did they buy it?
Your insurance policy which can have different repayment and rebuild values l is based on what your home costs currently to replace. If you bought it for 50k 25 years ago and is worth 900k in 2025, you are paying current value rates.
@@mikenismogtr 25 years ago, you were only earning $6 an hour. Now you are earning $30 an hour. $30 an hour is "your current value rate."
@@mikenismogtr 25 years ago, you were only earning $6 an hour.
Sad thing is thatthis incident will affect every homeowner, renter & auto policy in the USA to make up for California losses😢
I had a minor fender bender back in July.I was at fault for $3600 in damages.I was paying $290 every 6 months and my insurance agency wanted to increase it to $875 every 6 months.I am switching to State Farm and will pay $475 every 6 months for basic liability on a 2003 Honda Accord here in Raleigh NC.
It is not really rocket science, to look at mitigation or lack of it, in the brush lands and forests. If you are an insurance company, you are there to make money….we consumers want to have a 500k house and insure it completely for $1700 a year. Also, there are so many policies and permitting obstacles……Cali is doomed. Oh and let’s keep voting democrat, we are walking off the cliff, while mayors are missing, Governors are incompetent and progressive/woke is more important than people.
Not to mention the state doesnt do a proper job to prevent these fires. Why would any insurance company want to take that liability?
You might want to look at Florida a republican ran state since you want to the political blame game.
@@donaldhopkins1476not a political blame game, simply stating facts. CA knew this was a risk for decades. Not only did they not mitigate it, they adopted policies that exacerbated the problem.
What did the insurance companies know that the people didn't know? Why is the property so damn expensive?
Guessing because there is a much higher chance of your house cathing fire in LA
They knew Californian leaders were not doing anything to prevent fires or help suppress fires. Even the citizens of California knew.
@@Gator777 cost to rebuild a home in LA is around $400 per square foot. Compare that to Florida $110-200 per square foot.
Did these insurance companies know this fire was coming? Coincidence, No
The Palisades area has been a fire threat since the big drought back in the 1970’s. But, when CA stopped clearing all the brush and debris in the open spaces, that’s when the insurance companies started taking notice. But, I agree that the timing is very suspect
They did it country wife you moron. Did they light all fires around the country? At what point in history could they have canceled these without a major fire happening after?
Basicly im showing your dumb ass that it would have always looked like this but your to stupid to actually think
@@DRgoodguy The insurance commissioner refused to allow the insurance companies to raise rates, so they pulled out.
Of course they knew it was coming. Anyone with sense knew it was coming.
Some people will literally argue that I should be able to build a million dollar house in an active volcano and insurance companies should have to offer me volcano protection.
At some point you have to take responsibility for your self. You pick where you live and if you choose to live somewhere that is prone to shit like this, why would a 3rd party take on that responsibility? Why should they have to?
I will offer you volcano insurance but you are not going to like your premium.
@@mikenismogtrexactly. That's what happened in CA except the government said you legally can't charge that much. So the insurance companies said "byeee!"
Insurance companies don't take loss of revenue
This is click bait. State Farm dumped those 70,000 months ago.
The Insurance companies knew!
Trump, Rogan, and Adam Corolla also knew. Only the DUMBAZZ DemocRATS "didn't know"
It's not brain surgery.
Everyone knows that California is uninsurable due to excessive risk.
As they should. In the valley we Don't get flood insurance. I feel for them but they knew the risk.
Well, there’s your problem right there. Government thinking that price controls will fix things.
So look to the insurance commissioner as to why they lost their insurance?
The year is 1988 and were at the state capital celebrating the passage of prop#103 by the great citizens of California!.
But make sure you rebuild again so you can have your house burn again in 10 years
The average cost of a home in zip 90210 is 4.5 - 5 million ok let's see ten thousand dollars in insurance for these properties a year OH MY MY OH I PAY ONE FORTH OF THAT FOR 200 HUNDRED THOUSAND & CALIFORNIA'S ARE COMPLAINING INSANE INSANE INSANE INSURANCE COMPANIES NEED TO MASS LEAVE -,STATE FARM &OTHERS ARE SAINTS FOR PUTTING UP WITH THIS .
Insurance is a scam and needs to be abolished all together.
Totally agree with you. Health Insurance and Home Owner’s Insurance premiums are way, way to high, then, when you make a claim, the insurance companies fight it, deny claims, and even make suffering people sue them for your claims to be paid. Ridiculous that people are required to have homeowners insurance to have a mortgage. Mortgage lenders make tons of $, especially when the first 5 years of a mortgage, almost all of your payment is going towards interest. Scams - all of them. IMHO
I like how you offer an alternative Karl
What that means is that home ownership will be abolished for most people. No one will write a mortgage on an uninsured property.
Insurers should offer a policy which excludes claims based on fire, water, wind, land movement etc. What would be covered is asteroids, planes or meteors crashing into the house. Of course houses within five miles of an airport would have an exclusion for the planes.
@frankblangeard8865 What sense would it matter to have coverage then ? ,If they excude all things you mentioned??
Three things to know about insurance. 1. There is no risk too big to insure. Just a premium too small. 2. Actuaries drive forward by looking in their rearview mirrors. Lastly, math wins every time despite what a woke insurance commissioner decrees.
Lmoa you said "woke". Grow up
should have extended the interview
There should be a moratorium of how big a single house after a fire can be in a burnout area like LA and other places in California. Keep the single housing under 3000 Sq. Ft. and use non-combustible materials on roofs and siding. Build more apartments because we have a housing shortage everywhere.
The State of CA should have a Fire Fund Insurance program for the entire state for which everyone pays into ... This would keep Insurance for Profit to disappear completely from the state of California. Everything seems to be "For Profit" these days and it has to end. You all know the Fire situation in CA can strike anywhere without notice. It could be in anyone's backyard- wealthy and or not wealthy and strike at any time.
The 4 Elements, Earth (Fuel that are Trees and Kindling- Landscape), Air (Wind), Fire, and Water (floods) ... Are 5th dimensional in their form ... The Elements are elevated extreme and a 3 D world can't handle it. Time for change.
The City of Angels is going through a "Cleansing" process, like many other parts of California and other states too as well.
Your proposal smacks of socialism....you don't like profits? Then you don't belong in AMERICA, WE DO HAPPEN TO BE CAPITALISTS.
Karl Marx approves of your plan
Thank you so much for this amazing video! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (mistake turkey blossom warfare blade until bachelor fall squeeze today flee guitar). How can I transfer them to Binance?
Rates are a percentage, as property prices go up so does your cut....
Ca insurance code 331 reads uberrimae fidei the power to rescind
As Father Guido Sarduci said, It’s simple Supply and Demand.
In a related story, the State Farm Insurance Headquarters have increased security 10 fold.
Welcome to the united corporations of america
You report this as if this is a new thing? Harder to find is wrong, it's more like not available!
The CEO of Stare Farm is Michael L. Tipsord. Just so you know.
Free Luigi...
And Newsom is the governor of California...point being?
And the Rams/Vikings game was move to STATE FARM Stadium in Glendale, AZ.
Ooooooooooooooooooooooooooooooo the irony!
Couldnt get insurance? Isnt Lloyds of London or what ever it is still in business. They would insure anything if you had enough money. Well maybe not in California to much stupid.
After this let's rebuild using wood.
Just going to have to have a type of public option through the government like with nuclear reactors. Guess going private isn't a good idea.
Like a very bad neighbor. statefarms out of there
I just woke up from a coma. This is all fiction. Right?
I swear to God,I just paid home insurance for a year,if on renewal insurance rise up because of California,I'm going to sue insurance company. I don't give a fuck anymore.
That ìs the reason why we have insurance .I feel the government needs to step in!!!
enough enough ,they collect millions of dollars but when they need to cover they deny !!!!
It's US karma repayment started from God ( did they remember Palestinian children suffer since a year)
Everyone needs to drop state farm.