Going ahead, why on earth woould ANY insurance company offer coverage for areas like this? The area is a ticking time bomb..and the State has ignored the problem for decades.
Yes a ticking time bomb, but let’s look at the bigger picture. These companies are very close to big Govt. They cancel 70% of their insurance premiums why? What are the chances of that really? 1 in a billion, these big Govt elitists want one thing, control of the masses. Remember COVID? I think it peculiar when insurance complies cut out 70% of their revenue, this didn’t happen the day before the fire, it was already taking place! My feeling, they knew this was coming and they were waiting for the right wind! These politicians are Evil people wanting to destroy America and to control the masses. Think about the Financial burden it places on the USA, same thing with COVID, they knew damn well our bodies would create antibodies. Yet big pharma raked in billions probably trillions. It was all about control, if you think slick hair isn’t about controlling the masses, think again! Why would President Trump want to go see Cali and slick hair, why? President Trump did that in his first term, slick hair never headed one warning about cleaning underbrush nor about filling reservoirs! It’s all about control for Slick hair!…
Then why take customers money in the first place then? It was cool when customers was paying and didn’t need to use their insurance but now that they need them it’s a problem. You can have insurance but can’t have fire insurance wtf is that🤦🏾♂️. S**t wrong and criminal
The Insurance Companies TOLD CA this was going to happen - and it DID! When you KNOW safety measures are being NEGLECTED, would YOU stick around?! I LEFT CA and boy am I GLAD!
In the past, I had always wanted to live in the San Francisco area of California, go to college out there and settle there! Knowing what I know now, I'm glad I stayed here in the Midwest! I would probably have never lived around the LA area, as it was always too crowded for me, and the traffic was always pretty rough!
State Farm cancelled policies in Pacific Palisades because Newsome and his minions refused to negotiate with them. Instead, they passed legislation not allowing State Farm to raise premiums to cover their exposure. State Farm had little choice but to back out of California. If Newsom had simply negotiated a lower tax rate, State Farm would have agreed to maintain or even lower premiums while still being able to cover losses. This is what happens when you have elected officials who have zero business negotiating skills and liberal ideologies. Instead of fixing an problem, Gov. Newsom worked on 'Trump Proofing' instead of 'Fire-Proofing' his state to the tune of millions of dollars while cutting the wildfire preparedness budget by millions last year. Is it any wonder why voters are now enraged and want Newsom thrown out of office?
Very well said. Born and raised here in CA I've learned during times of crisis you are on your own. I've taken matters into my own hands. I have a 300 gpm water pump to disburse pool water out of my pool to save my home and neighboring homes. I'm sure my fire insurance will be cancelled after this disaster and I will have to go with the cr@p CA fund which is inadequate so I will need to defend my property. Every home/condo/apartment that has a pool should have an emergency fire pumping system. Many burned down homes in areas with no water/pressure had pools filled with water that could have been used.
Ask the local counties and cities : when you cut the LAFD funding, leave reservoir empty and deny homeowners request to trim trees around their property, do you expect the private insurance companies to cover your incompetence?
Many do not realize the insurance companies have huge unrealized losses on their books from losses in their bond portfolios. When a massive disaster comes and they need cash to pay claims those losses become realized. They lose money on both ends.
They did the risk analysis that voters didn’t do. And it told them that preventative maintenance and fire event preparation was criminally deficient. Insurers pulling out was the biggest red flag ever 🚩😔
Over ten years ago, citizens voted for more reservoirs, water tanks and requested millions to do the work. That passed. Newsome has totally ignored that. He should be in prison with his entire state legislature and Mayor Karen Bass.
@@kbrown5218 100%. They took tax payer money allocated for reservoirs and used it on something else, which is stealing from their own people . At best they are criminally negligent. But it may even be intentional.
@@camban It’s all about risk. I had a friend whose wife totaled their car while learning to drive. The insurance company agreed to pay for car but refused to provide any further car insurance to them.
Well, the people of these cities are highly litigious and refuse to change their ways tbh. They tend to want to leave things unchanged and will sue for any changes. Look at the metro extension to UCLA. Beverly Hills sued for years to delay this project. They delayed it like 10 years!!! Also, why are these rich people being babies about insurance? They talk about the free market all the time. No one prevented the homeowners from installing fire suppression systems or doing fire prevention themselves. Again: socialism for the riches's bad choices but rugged individualism for the poor and less fortunate no matter how unfair things have been. Blah blah bootstraps.
Canceled because Scientists have been warning of this for years. Climate change is real whether you want to pretend it isn't or not. Doesn't change the facts.
Now all you have to do to prove is what were those preventative measures. I think the government should only allow winds of 14 mph during drought conditions.
But these insurance companies are worth hundreds of billions of dollars from all our money from all the decades and years and when it’s time for them to help, they don’t wanna help instead they drop us ok
@luckap79 There was a time before the Liberals took complete control with their ecological stupidity that California did control burns and the insurance companies covered the people with insurance in good faith. The Liberal Democrats destroyed your insurability . The people of California voted for these ideas and policies and the insurance companies simply realize they are in a no win situation. Remember what we were told, elections have consequences and this is one of those consequences. The whole country is watching the stupidity that is going on in California politics,we see the problems hopefully you guys will wake up.
It wasn't that though that caused them to leave. It was bad policy and taxes by the government that did. Most of the companies were fine staying there even though fire safety was the worst. This is just how bad government is there. I just don't get how you vote for this.
I hate insurance companies as much as the next guy but so what? California forced these private companies out. They voted for this government. Insurance companies have experts who look at things that will cost them monies like empty reservoirs, lousy fire departments, no fire breaks or proper forest management AND SANTA ANNA winds!
@@support2587 I agree with everything you said except “ they voted for this government “. I think if every state required ID and cleaned up their voter rolls, California would be a red state. I don’t think Gavin Newsom was voted in, but installed .
Yup, exactly. But the biggest issue wasn't even this that forced them out. It was the government telling insurance companies they couldn't raise rates and that they had to insure everyone at cheaper rates. All while they raised the taxes on them. LOL! I mean I don't think the insurance companies are to blame here at the end of the day. Bad policy, no care of safety measures, raise taxes, no water, etc.......... Just a total nightmare at the end of the day. How you vote for this is beyond me.
The same thing is happening in states like Florida and North Carolina. That tells you it’s not just the governments in these states, but also global warming.
State Farm knew about this tremendous fire hazard while the governor and mayor ignored this warning and concentrated their efforts on implementing socialism. LOL
The insurance companies deserve the least blame, in my view. They may be hated, but at least they knew what was coming due to state and local government negligence
If any insurance company was smart, they wouldn't have any policies in CA, or any other place like it. It's called risk assessment. When the risks outweigh the benefits of staying, it's time to get out and save your own arse.
And you'll see people still claim that they had no idea this was a wildfire area. 😂 They can pay millions for their house but then cannot afford the insurance. Insurance is not a charity.
Why should my Federal taxes be diverted to bail out expensive homes in California which were built in dangerous areas? The insurance companies must be allowed to set premiums to cover their expected loses and not depend of Federal bailouts. The State government should be liable to pay the losses since it was their policies that created the conditions that led to this. I am sorry for the home owners, but they voted in the politicians who wasted their money on drug kits, homeless, and illegal immigrants.
If people are not insured and have lost everything, they are not going to keep paying their mortgages. Is this going to turn into another California banking crisis?
Maybe if the state and federal governments would collect the appropriate amount of taxes from the wealthy e.g., Trump, Musk, etc. then you wouldn't have to be worried about your measly tax dollars. As it stands, federal tax monies will be used to help in this situation. There is nothing you can do about it.
If you (state of CA) don’t protect your risk, don’t expect insurance companies to insure it. Period. This is all a result of the unlawfulness the Democrat and liberal judicial systems allow. Insurance companies can not afford to cover everything. We need to get back to upholding the law and give our middle class a chance to prosper.
Did the insurance companies actually "cancel" policies? Or did they choose not to re-new these policies at the end of the policy term? "Cancelling" a policy and "not renewing" a policy mean two very different things.
The Policy Jacket addresses both canceling and non-renewals. Shame on the State of California for destroying personal and real property and the jobs of all the Insurance personnel. It's not rock science....People have and continue to Move Out of California.....Or one could stay and deal with it.
Misleading headline. This was done months before the fire and notices were sent out months earlier to these home owners. Most of these home owners probably voted for the people in charge of CA and are now finding out how badly these officials have mismanaged the state, including the insurance commission that drove State Farm out of the state.
State Farm never canceled 1 policy. State Farm didn't renew policies after the contract ran out. The State of California wouldn't not allow rate increases that were necessary for the risk. Smart business decision.
Not renewing a homeowner policy doesn't make an insurance company unethical except it is too high of a risk for it to take on in respect to its returns.
Correction, State Farm decided to not renew policies in California due to the governor not reducing the fire hazards plaguing the state. Why would a company invest where they would lose money?
Back in 2004, after Hurricane Ivan, my insurance company, dropped me, too. I didn't even have a claim. The risk was just too high for them, it happens.
News flash. Insurance companies aren't charities. Homeowners don't have a right to a multi-million dollar price tag on their homes. If it's in a fire zone and insurance is exorbitant, the price should come down to reflect that. Bear the costs of your own risk-taking. Don't expect a bail out from the rest of us.
Yes, it is legal if the insurance companies wish to cancel policies and leave the state of California or any state for that fact. Who should be held accountable? The California governments should! Lack of proper forestry cleaning, cutting back unnecessary field brush, and cutting back on the funding of their fire department are the root causes. My gosh, if I had the data that the insurance companies have, I would have pulled out also. Fires have been happening there for decades, but this gets noticed because of its size, lack of funding, and insurance issues. SICK!
How can you blame them?? They are right to cancel policies. California not doing what they should to prevent this disaster. Don’t blame insurance. It’s the California government to blame here.
California pays more federal taxes than any other state. If you want to be stingy about helping California, then every state should be on their own from now on.
@ if you reward incompetence you get more of it. It’s not about being stingy…it’s about being accountable for disasters that seem to be a recurring theme brought on by poor leadership and foresight. If the insurance companies saw it for what it was …why didn’t California leadership?
@@greggkupec Insurance companies are canceling plans in Florida too. With more extreme weather events becoming common, they can't make money. You can't manage your way out of 100 mph winds. The wind doesn't care who the governor is.
its easy to criticize insurance companies. Such companies are not charities. They exist to make profits for their shareholders. In exchange for a premium payment, they assume risks on behalf of policyholders. Clearly, these companies (months ago) decided the risks were too great given the premiums they are allowed to charge. The insured value(s) of homes have increased faster than the premiums charged. These companies will exit the California market even faster now.
I will have to look into this further but I would not be so fast to let insurance companies off the hook on this. Need to look at what actually happened to the policy holders that got holding the bag with no coverage. They can got to bat for the dead folks familys in court to cover the losses. State Farm might not be that neighbor you trust.
@@Physics072 if an insurance company doesn't pay a valid claim, then they should be held accountable. Canceling policies when the risks are greater than the premiums is just the nature of the business.
@@lakeguy65616 This is a partial story. Without all the facts one really can't say the insurance company was in the right or had the best interests of the owners in mind. We have yet to hear the rest of the story on that.
@@Physics072 They are coverage Availible, is the California plan of last resort. A lot of people chose to not buy it because it is significantly more expensive than the State Farm policy they used to have. If you live in a High risk Area, you should have on the hook to pay more. People who live in low risk area should not supplement your life style.
If you have a good realtor, they will show you the US Army Corp of Engineers flood plains, fire risk, etc., when you are buying the home so you understand the location insurance risks/costs.
$770 is a slap in the face for the victims of the fires!! They're offer $30 more than the hurricane survivors were!! & the *Maui victims* got nothing, but basically told to "leave, & don't come back"!!
That's why I have State Farm. Why should I have to pay for the idiotic policies of California. Glad State Farm is looking out for their customers in other states.
California pays more federal taxes than any other state. I'm sure California would be happy for all the other states to be on their own when their own disasters strike. They'd be fine regardless. The amount of hate from people toward California is disgusting.
Insurance companies are there to make money ! If the government has allowed them to increase over time this wouldn’t be as much of an issue ! This lady is wrong this isn’t unethical!!! If you didn’t carry Insurance then that’s your mistake !!
I don’t blame the insurance companies. Californians pay 2 to 3K a year for their coverage yet it cost 700 K to rebuild the home. That loss can be offset when it’s maybe 2-3 houses, per town, per year. But that doesn’t work when you have entire neighborhoods burning down every single year.
Obviously the lady saying it’s not ethical for them to leave doesn’t understand what insurance is. Of coarse a company is going to cancel when the environment is a liability. If the property was built in a flood zone that floods every year then flood insurance wouldn’t be available because of the floods. They would say don’t build in a flood zone. They wouldn’t be able to pay the damages.
The people in North Carolina and Tennessee are also needing help from Hurricane Helene that happened in September. A lot of them are still living in tents, and they recently had a freezing snowstorm. Help from national agencies, the gov't or FEMA have been slim to next to none. Forget insurance companies with their thousands of excuses for not paying. The people have had to rely on churches and volunteers for food, water, clothing and what shelter they could get.
Give those State Farm execs a raise for saving their companies $$$. They're not obligated to save an incompetent governor and mayor (and voters) from their failures.
Insurance companies have been canceling and leaving California for months, nothing new here. Mine in Nor Cal was canceled almost a year ago. The blame rests on democrat voters, no one else!
BOTTOM LINE: WAS THIS CATASTROPHIC EVENT PREVENTABLE? For the most part yes but it would have taken preparations ahead of time like cutting back dead brush and timber,ensuring adequate water and firefighter personnel to combat and a wide awake and responsible leadership at all leavers to coordinate all the necessary measures. Obviously this was the results of inept management steering the ship.
State Farm Insurance is not at fault for that. If the homeowner is notified their policy isn't going to be renewed it's their responsibility to acquire insurance through another vendor. There was plenty of time between July and January to obtain a new policy.
These are multi billion dollar corporations you think they don’t have AI models predicting this given the fact weather is highly predictable ? Isn’t this a free market ? Why are people blaming if they think it’s profitable then why don’t they try it themselves and save for there own policies
If your insurance company condiders you a "bad risk" . . . driving record, police record, having many accidents, they will drop you. They most likely took into consideration the "Tinderbox" condition of California and decided they didn't want to be financially responsible for that impending disaster and booked.
Exactly. The insurance experts anticipated this and were likely horrified by their ‘predicted’ outcomes, knowing this was statistically possible. I bet they’re all thinking, “Wow, it finally happened!” 😮
If I tried to get a different auto policy, and not continue my current coverage, a lot will not take my car. All because the stupid Kia/Hyundai TikTok crap that led to cars being stolen with a USB cord. Thanks to that, even if I was to get a club/lock/whatever- I cannot get insurance. I am too much of a risk. And it is not even my fault because I had my car BEFORE this crap.
@@reynamachado85 You can't get insurance for theft. You can get the minimum insurance required by your State. If your car is several years old that is all that matters.
Bass and Newsom said … “who could have known this wildl happen” said they were helpless. Yea no one except every insurance company in the exact area effected
Here in South Mississippi after hurricane Katrina the state told people they wouldn't get flood insurance anymore if you're in a flood zone unless you build your house 20 feet in the air. That might work in California.
Pacific Palisades in California has historically experienced significant landslide issues, particularly during periods of heavy rain, with the most notable activity occurring after major storms, causing land movement and impacting homes in the area; this is due to the steep terrain and geological conditions of the coastal bluffs where the community is situated.
Insurance companies are "canary in the coalmine" indicators. Any sane government should be monitoring insurance premiums and policies to understand where the real risks are.
This is backwards. When the insurance companies said the risk of catastrophe was too great that’s when the citizens should have panicked & made the necessary changes to reduce the risks! The power lines should have been buried, brush should have been cleared ect. The fault lies with the citizens who once again blamed the insurance companies & not their own mismanagement
They have every right to cancel based on how the government was taking care of the problem. This is a Bass and Newsom mismanagement issue. They need to be held accountable
Many residents will probably take the insurance payout (if applicable) and sell their lot, then rebuild outside of State of California where cost of living is affordable.
Why isn't anyone looking at the homeowners who failed to maintain the required "Defensible Space" mandated by all the Local Fire Depts. in SoCal? Did they think that they would all be the exception because this is L.A.?
State farm also would have had plenty of people on the ground in the state to let them know nothing was being done to maintain the forest floor. That in and of itself is enough to justify insurance company's pulling out of any state. Selling insurance is supposed to be a calculated risk not the assurance of lose.
Over time, the agents on the ground reported the hazards and the decline in upkeep, aging wooden homes, weather patterns. Insurance relies on all these statistics to make a profit. It's concerning that they withdrew without anyone in California government noticing this glaring ⚠️warning sign.
Homes are dropping out of escrow due to borrowers unable to obtain insurance. I got cancelled last year due to a small amount of algae on my roof. Liberty did not even give me the opportunity to fix the issue. So replaced the roof and luckily got AAA only because I bundled my auto with it. If this continues its time to get out of California.
It shows the contrast of business vs government. Some random underwriter at State Farm saw the high risk of loss a year ago and saved State Farm and it’s policy holders across the country a billion dollars, while the Democrats that run the government were too incompetent/arrogant to see the problem. State Farm is a “mutual” insurance company, which means it’s essentially owned by the policy owners not stock holders. But Instead of stepping back and wondering why insurance companies were leaving in droves, the Dems just plowed straight ahead with the same stupid regulations and complete lack of fire management, and this is the result.
State Farm are smart people. Fully support their decision. It's insane to built multi-million houses in these remote, dry areas. If you do, you are on your own.
Why would insurance companies take on such high risk areas!! Meanwhile, just keep paying those high premiums so Jake from State Farm can keep running those high dollar commercials!!! A bit of irony, because of the LA fires, the NFL playoffs between the Rams and Vikings has been moved to Glendale Arizona, at STATE FARM STADIUM
its' a personal choice to live in a high risk area. if you cant afford the higher premium or to self-insure with your savings, do not purchase a property at these location!
Like a good neighbor. How can you criticize insurance companies for understanding risk and taking action. The state, county, and city is mismanaged so they walked away.
State farm was smarter then the government at preventing a losss. If state farm knew this country happen the the government should have known this could happen
Good. State Farm was prudent. Grossly overpriced California real estate, absurd regulations, unprofitable business. You need your head examined if you are underwriting anything in DEI Los Angeles.
Listen you Karens, Donald trump , the insurance companies knew the forest wasn't managed properly by your governor or mayor and they choose to do nothing for fire management , they would be stupid to insure such a high risk
If your insurance is not renewed or cancelled, you find another insurance company right away. *****************************************************************************************************
Except most insurance companies pulled out of CA, because state regulations restrict what they can charge, and thus they stopped offering coverage in the state of CA. Easy choice for insurance companies. This is what happens when you interfere with the free market and impose onerous government regulations. It's not rocket science....
Farmers wanted to cancel me if I didn’t add a 400 dollar moen device that they had a partnership with. On top of the moen device cost add another 400 dollars for the plumber. Once plumber showed up he wanted another 1200 dollars. All these companies are scamming us.
If I choose to build my home above a canyon which is covered with dry brush is it my responsibility to clear and maintain the canyon or is it the responsibility of the person or entity which owns the land in the canyon?
Sorry but north Carolina & Tennessee (as well as myself) have lost everything as well. Not near this amount of help was given to them. I’ve received absolutely no charitable assistance. But the celebrities and their friends will be well taken care of. When you wonder where your fans went, where the love of your country went, where the good in people left them, remember this past week and the discrepancies of how people were treated based upon their socioeconomic status.
What’s the point of insurance you pay and you pay and if something happens, they dictate way out of paying you back for the cancel your policies. What’s the point of even having insurance?
State farm has been raising prices and canceling policies to reduce its exposure in high risk areas. It is not that State farm cannot raise prices. It is they do not want that risk! Insurance premiums have been up and up each year and yet insurance companies still won't cover certain areas!
Going ahead, why on earth woould ANY insurance company offer coverage for areas like this? The area is a ticking time bomb..and the State has ignored the problem for decades.
Yes a ticking time bomb, but let’s look at the bigger picture. These companies are very close to big Govt. They cancel 70% of their insurance premiums why? What are the chances of that really? 1 in a billion, these big Govt elitists want one thing, control of the masses. Remember COVID? I think it peculiar when insurance complies cut out 70% of their revenue, this didn’t happen the day before the fire, it was already taking place! My feeling, they knew this was coming and they were waiting for the right wind! These politicians are Evil people wanting to destroy America and to control the masses. Think about the Financial burden it places on the USA, same thing with COVID, they knew damn well our bodies would create antibodies. Yet big pharma raked in billions probably trillions. It was all about control, if you think slick hair isn’t about controlling the masses, think again! Why would President Trump want to go see Cali and slick hair, why? President Trump did that in his first term, slick hair never headed one warning about cleaning underbrush nor about filling reservoirs! It’s all about control for Slick hair!…
Well I think in like 20 years if they construct better safety measures and fire proof housing that insurance companies would come back.
@@Afrozombie94um ok, ridiculous comment.
Then why take customers money in the first place then? It was cool when customers was paying and didn’t need to use their insurance but now that they need them it’s a problem.
You can have insurance but can’t have fire insurance wtf is that🤦🏾♂️. S**t wrong and criminal
Just like Florida?
The Insurance Companies TOLD CA this was going to happen - and it DID! When you KNOW safety measures are being NEGLECTED, would YOU stick around?! I LEFT CA and boy am I GLAD!
In the past, I had always wanted to live in the San Francisco area of California, go to college out there and settle there! Knowing what I know now, I'm glad I stayed here in the Midwest!
I would probably have never lived around the LA area, as it was always too crowded for me, and the traffic was always pretty rough!
State Farm cancelled policies in Pacific Palisades because Newsome and his minions refused to negotiate with them. Instead, they passed legislation not allowing State Farm to raise premiums to cover their exposure. State Farm had little choice but to back out of California. If Newsom had simply negotiated a lower tax rate, State Farm would have agreed to maintain or even lower premiums while still being able to cover losses. This is what happens when you have elected officials who have zero business negotiating skills and liberal ideologies. Instead of fixing an problem, Gov. Newsom worked on 'Trump Proofing' instead of 'Fire-Proofing' his state to the tune of millions of dollars while cutting the wildfire preparedness budget by millions last year. Is it any wonder why voters are now enraged and want Newsom thrown out of office?
california government problem. not federal
They all had a chance to get rid of Newsom awhile back, hard to have sympathy for them now when the majority voted to keep him in office.
Very well said. Born and raised here in CA I've learned during times of crisis you are on your own. I've taken matters into my own hands. I have a 300 gpm water pump to disburse pool water out of my pool to save my home and neighboring homes. I'm sure my fire insurance will be cancelled after this disaster and I will have to go with the cr@p CA fund which is inadequate so I will need to defend my property. Every home/condo/apartment that has a pool should have an emergency fire pumping system. Many burned down homes in areas with no water/pressure had pools filled with water that could have been used.
@@1motomanic
I doubt an honest election has been held in CA for at least 3 decades.
What did State Farm ask for in their NEGOTIATIONS ?
Ask the local counties and cities : when you cut the LAFD funding, leave reservoir empty and deny homeowners request to trim trees around their property, do you expect the private insurance companies to cover your incompetence?
this would have bankrupted State Farm
Pew
The sinking of the Titanic taught insurance companies about risks...
Or any other insurance company.
They love their high paying checks to live high off the hog
Many do not realize the insurance companies have huge unrealized losses on their books from losses in their bond portfolios. When a massive disaster comes and they need cash to pay claims those losses become realized. They lose money on both ends.
They did the risk analysis that voters didn’t do. And it told them that preventative maintenance and fire event preparation was criminally deficient. Insurers pulling out was the biggest red flag ever 🚩😔
Over ten years ago, citizens voted for more reservoirs, water tanks and requested millions to do the work. That passed. Newsome has totally ignored that. He should be in prison with his entire state legislature and Mayor Karen Bass.
Homeowners on average don’t have access to insurance risk analysis but California voted for water bonds.
@@kbrown5218
100%.
They took tax payer money allocated for reservoirs and used it on something else, which is stealing from their own people .
At best they are criminally negligent. But it may even be intentional.
@@camban It’s all about risk. I had a friend whose wife totaled their car while learning to drive. The insurance company agreed to pay for car but refused to provide any further car insurance to them.
Cancelled because an already high risk area became an uninsurable due to the avoidable lack of fire prevention measures by the government.
Bingo... we have a commenter with brains
Well, the people of these cities are highly litigious and refuse to change their ways tbh. They tend to want to leave things unchanged and will sue for any changes. Look at the metro extension to UCLA. Beverly Hills sued for years to delay this project. They delayed it like 10 years!!!
Also, why are these rich people being babies about insurance? They talk about the free market all the time. No one prevented the homeowners from installing fire suppression systems or doing fire prevention themselves. Again: socialism for the riches's bad choices but rugged individualism for the poor and less fortunate no matter how unfair things have been.
Blah blah bootstraps.
Canceled because Scientists have been warning of this for years. Climate change is real whether you want to pretend it isn't or not. Doesn't change the facts.
A company calculated the risk, nothing wrong with that
Now all you have to do to prove is what were those preventative measures. I think the government should only allow winds of 14 mph during drought conditions.
Look at the Land management by the government . Dont blame the insurance companies for seeing the time bomb and leaving !
But these insurance companies are worth hundreds of billions of dollars from all our money from all the decades and years and when it’s time for them to help, they don’t wanna help instead they drop us ok
@@luckap79 exactly! If they are going to drop them because of the fires, they should return every dime spent covering the fire policy
@@WhoisU_45 ✅
@luckap79 There was a time before the Liberals took complete control with their ecological stupidity that California did control burns and the insurance companies covered the people with insurance in good faith. The Liberal Democrats destroyed your insurability . The people of California voted for these ideas and policies and the insurance companies simply realize they are in a no win situation. Remember what we were told, elections have consequences and this is one of those consequences. The whole country is watching the stupidity that is going on in California politics,we see the problems hopefully you guys will wake up.
It wasn't that though that caused them to leave. It was bad policy and taxes by the government that did. Most of the companies were fine staying there even though fire safety was the worst. This is just how bad government is there. I just don't get how you vote for this.
Media is working hard to avoid blaming democrat politicians. As usual.
That's alright. Everyone else is blaming them.
What a pathetic vacuum of politics you live in.
Whatever 'meatless'
@@AlphaOmeg-y3h I think the vacuum is between Kamal's ears
Nailed it !!!!!!!!!!!!
I hate insurance companies as much as the next guy but so what? California forced these private companies out. They voted for this government. Insurance companies have experts who look at things that will cost them monies like empty reservoirs, lousy fire departments, no fire breaks or proper forest management AND SANTA ANNA winds!
I'm beginning to think CA is an enemy of the nation
@@support2587
I agree with everything you said except “ they voted for this government “. I think if every state required ID and cleaned up their voter rolls, California would be a red state.
I don’t think Gavin Newsom was voted in, but installed .
Yup, exactly. But the biggest issue wasn't even this that forced them out. It was the government telling insurance companies they couldn't raise rates and that they had to insure everyone at cheaper rates. All while they raised the taxes on them. LOL! I mean I don't think the insurance companies are to blame here at the end of the day. Bad policy, no care of safety measures, raise taxes, no water, etc.......... Just a total nightmare at the end of the day. How you vote for this is beyond me.
The same thing is happening in states like Florida and North Carolina. That tells you it’s not just the governments in these states, but also global warming.
@@blongshanks77 The earth's climate has been changing for millions of years. Biden blowing billions of taxpayer money to fix it is nonsense.
State Farm knew about this tremendous fire hazard while the governor and mayor ignored this warning and concentrated their efforts on implementing socialism. LOL
The insurance companies deserve the least blame, in my view. They may be hated, but at least they knew what was coming due to state and local government negligence
You see when you manage your own money you care about managing it . When the government manages other people's money they could care less .
The LA mayor was busy taking care of Gaza and Africa. She was not even in LA when they needed her leadership. What’s else are you supposed her to do?
@ LOL
If any insurance company was smart, they wouldn't have any policies in CA, or any other place like it. It's called risk assessment. When the risks outweigh the benefits of staying, it's time to get out and save your own arse.
And you'll see people still claim that they had no idea this was a wildfire area. 😂
They can pay millions for their house but then cannot afford the insurance.
Insurance is not a charity.
Why should my Federal taxes be diverted to bail out expensive homes in California which were built in dangerous areas? The insurance companies must be allowed to set premiums to cover their expected loses and not depend of Federal bailouts. The State government should be liable to pay the losses since it was their policies that created the conditions that led to this. I am sorry for the home owners, but they voted in the politicians who wasted their money on drug kits, homeless, and illegal immigrants.
fully agree.
100% But the insurance companies own the legislators not only in California. In DC as well.
If people are not insured and have lost everything, they are not going to keep paying their mortgages. Is this going to turn into another California banking crisis?
Maybe if the state and federal governments would collect the appropriate amount of taxes from the wealthy e.g., Trump, Musk, etc. then you wouldn't have to be worried about your measly tax dollars. As it stands, federal tax monies will be used to help in this situation. There is nothing you can do about it.
I don't disagree. You can include Clinton and Obama and Pelosialong with Trump and Musk. They're filthy rich too
If you (state of CA) don’t protect your risk, don’t expect insurance companies to insure it. Period. This is all a result of the unlawfulness the Democrat and liberal judicial systems allow. Insurance companies can not afford to cover everything. We need to get back to upholding the law and give our middle class a chance to prosper.
Same goes to Florida right?
@@erickalc1031 No, FL prosecutes criminals and takes care of their natural environment.
Hurricanes can’t be stopped . These fires can
@ or you can stop building on land that gets flooded and hit by hurricanes every season? Or do we have a case of double standards here?
And Trump will fix all of this right? lol
The city and county should have wondered why 70% were cancelled and stepped in and increased water levels etc in the area.
Blame the government in this case.
Successive governments.
Newsom 😢
Blame blame blame. Lol, so American. It is always a blame game.
@arindambaisya blame you because you should have spoke up before the fire
Gavin newsom and Karen bass have destroyed los angeles
Did the insurance companies actually "cancel" policies? Or did they choose not to re-new these policies at the end of the policy term? "Cancelling" a policy and "not renewing" a policy mean two very different things.
Excellent point!
The Policy Jacket addresses both canceling and non-renewals. Shame on the State of California for destroying personal and real property and the jobs of all the Insurance personnel.
It's not rock science....People have and continue to Move Out of California.....Or one could stay and deal with it.
They canceled because they were forced into new policies then said we are leaving in his case “California”
Not renew
@ and this happened last year
"I'm not in good hands! I'm in no hands! Like a bad neighbor, no one is there!" H.Simpson
You got what you voted for...
@@Skelton45Tell that to South Carolina people.
Misleading headline. This was done months before the fire and notices were sent out months earlier to these home owners. Most of these home owners probably voted for the people in charge of CA and are now finding out how badly these officials have mismanaged the state, including the insurance commission that drove State Farm out of the state.
State Farm never canceled 1 policy. State Farm didn't renew policies after the contract ran out. The State of California wouldn't not allow rate increases that were necessary for the risk.
Smart business decision.
Not renewing a homeowner policy doesn't make an insurance company unethical except it is too high of a risk for it to take on in respect to its returns.
Correction, State Farm decided to not renew policies in California due to the governor not reducing the fire hazards plaguing the state. Why would a company invest where they would lose money?
Back in 2004, after Hurricane Ivan, my insurance company, dropped me, too. I didn't even have a claim. The risk was just too high for them, it happens.
News flash. Insurance companies aren't charities. Homeowners don't have a right to a multi-million dollar price tag on their homes. If it's in a fire zone and insurance is exorbitant, the price should come down to reflect that. Bear the costs of your own risk-taking. Don't expect a bail out from the rest of us.
Newsflash: insurance is a scam
Yes, it is legal if the insurance companies wish to cancel policies and leave the state of California or any state for that fact. Who should be held accountable? The California governments should! Lack of proper forestry cleaning, cutting back unnecessary field brush, and cutting back on the funding of their fire department are the root causes. My gosh, if I had the data that the insurance companies have, I would have pulled out also. Fires have been happening there for decades, but this gets noticed because of its size, lack of funding, and insurance issues. SICK!
How can you blame them?? They are right to cancel policies. California not doing what they should to prevent this disaster. Don’t blame insurance. It’s the California government to blame here.
Let’s please keep this fiasco IN CALIFORNIA and not spread or require US taxpayer bail out!
California pays more federal taxes than any other state. If you want to be stingy about helping California, then every state should be on their own from now on.
@@ucsbgirlie18 OK.... Lets do it.... We are about there anyway...
@ if you reward incompetence you get more of it. It’s not about being stingy…it’s about being accountable for disasters that seem to be a recurring theme brought on by poor leadership and foresight. If the insurance companies saw it for what it was …why didn’t California leadership?
@@greggkupec Insurance companies are canceling plans in Florida too. With more extreme weather events becoming common, they can't make money. You can't manage your way out of 100 mph winds. The wind doesn't care who the governor is.
@@ucsbgirlie18 I disagree. The insurance companies care who the governor is…keep making excuses and learn nothing
its easy to criticize insurance companies. Such companies are not charities. They exist to make profits for their shareholders. In exchange for a premium payment, they assume risks on behalf of policyholders. Clearly, these companies (months ago) decided the risks were too great given the premiums they are allowed to charge. The insured value(s) of homes have increased faster than the premiums charged. These companies will exit the California market even faster now.
I will have to look into this further but I would not be so fast to let insurance companies off the hook on this. Need to look at what actually happened to the policy holders that got holding the bag with no coverage. They can got to bat for the dead folks familys in court to cover the losses. State Farm might not be that neighbor you trust.
@@Physics072 you need an editor or proof reader. your comment is meaningless.
@@Physics072 if an insurance company doesn't pay a valid claim, then they should be held accountable. Canceling policies when the risks are greater than the premiums is just the nature of the business.
@@lakeguy65616 This is a partial story. Without all the facts one really can't say the insurance company was in the right or had the best interests of the owners in mind. We have yet to hear the rest of the story on that.
@@Physics072 They are coverage Availible, is the California plan of last resort. A lot of people chose to not buy it because it is significantly more expensive than the State Farm policy they used to have.
If you live in a High risk Area, you should have on the hook to pay more. People who live in low risk area should not supplement your life style.
The stadium the Rams played in yesterday was State Farm in Arizona.
No different than having a home in a known flood area.
Yes,you can get insurance usually but it’s going to cost a lot.
If you have a good realtor, they will show you the US Army Corp of Engineers flood plains, fire risk, etc., when you are buying the home so you understand the location insurance risks/costs.
They'd asked to increase rates - Nuisance refused to allow them - so they left.
The CA state legislature refused insurance companies rate increase.
Does anyone think the adjusters seen the empty reservoir, and perhaps seen cuts in fire protection from the County?
absolutely they saw all the risks. thats that number 1 job if they are going to survive as a company and making sure they are charging appropriately.
$770 is a slap in the face for the victims of the fires!! They're offer $30 more than the hurricane survivors were!! & the *Maui victims* got nothing, but basically told to "leave, & don't come back"!!
That's why I have State Farm. Why should I have to pay for the idiotic policies of California. Glad State Farm is looking out for their customers in other states.
You will via higher taxes
California pays more federal taxes than any other state. I'm sure California would be happy for all the other states to be on their own when their own disasters strike. They'd be fine regardless. The amount of hate from people toward California is disgusting.
Lol you think it’s just California????
😅😅😅😅😅 I promise you insurance rate will go up in all states after this, I will be surprised if most people premiums don't rise by 1000 or more
Don't move to North Carolina, or Florida, or ....
The real problem is lose building codes that do not require homes in brush fire zones to be fire resistant.
The cancellations were months ago.
Insurance companies are there to make money ! If the government has allowed them to increase over time this wouldn’t be as much of an issue ! This lady is wrong this isn’t unethical!!! If you didn’t carry Insurance then that’s your mistake !!
It's legal and ETHICAL because non-CA customers matters too! Thank you, STATE FARM!
I don’t blame the insurance companies. Californians pay 2 to 3K a year for their coverage yet it cost 700 K to rebuild the home. That loss can be offset when it’s maybe 2-3 houses, per town, per year. But that doesn’t work when you have entire neighborhoods burning down every single year.
Sorry, but I don't think State Farm did anything wrong if they refused to renew insurance back in July.
Obviously the lady saying it’s not ethical for them to leave doesn’t understand what insurance is. Of coarse a company is going to cancel when the environment is a liability. If the property was built in a flood zone that floods every year then flood insurance wouldn’t be available because of the floods. They would say don’t build in a flood zone. They wouldn’t be able to pay the damages.
She understands what insurance is but is told to defend democrats and make private enterprise the bad guy.
The people in North Carolina and Tennessee are also needing help from Hurricane Helene that happened in September. A lot of them are still living in tents, and they recently had a freezing snowstorm. Help from national agencies, the gov't or FEMA have been slim to next to none. Forget insurance companies with their thousands of excuses for not paying. The people have had to rely on churches and volunteers for food, water, clothing and what shelter they could get.
Relying on your own resources is probably the better way to go. Government can't do anything right.
Give those State Farm execs a raise for saving their companies $$$. They're not obligated to save an incompetent governor and mayor (and voters) from their failures.
Insurance companies have been canceling and leaving California for months, nothing new here. Mine in Nor Cal was canceled almost a year ago. The blame rests on democrat voters, no one else!
😅😅😅😅😅
By the end of the the year, I wouldn't be surprised if insurance companies drop everyone in high risk areas.
The media begins to divert the responsibility from the CA government to insurance company.😂
BOTTOM LINE: WAS THIS CATASTROPHIC EVENT PREVENTABLE?
For the most part yes but it would have taken preparations ahead of time like cutting back dead brush and timber,ensuring adequate water and firefighter personnel to combat and a wide awake and responsible leadership at all leavers to coordinate all the necessary measures.
Obviously this was the results of inept management steering the ship.
Yea, what about South Carolina people that lost everything and have NO money to rebuild or relocate? Squeaky wheel gets the oil!!
They were not RENEWED... They were not CANCELLED.
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Whether the policies aren't renewed or canceled, some had no coverage at the time of the fires. The state's government caused this problem.
State Farm Insurance is not at fault for that. If the homeowner is notified their policy isn't going to be renewed it's their responsibility to acquire insurance through another vendor. There was plenty of time between July and January to obtain a new policy.
Semantics.
These are multi billion dollar corporations you think they don’t have AI models predicting this given the fact weather is highly predictable ? Isn’t this a free market ? Why are people blaming if they think it’s profitable then why don’t they try it themselves and save for there own policies
If your insurance company condiders you a "bad risk" . . . driving record, police record, having many accidents, they will drop you. They most likely took into consideration the "Tinderbox" condition of California and decided they didn't want to be financially responsible for that impending disaster and booked.
Exactly. The insurance experts anticipated this and were likely horrified by their ‘predicted’ outcomes, knowing this was statistically possible. I bet they’re all thinking, “Wow, it finally happened!” 😮
If I tried to get a different auto policy, and not continue my current coverage, a lot will not take my car. All because the stupid Kia/Hyundai TikTok crap that led to cars being stolen with a USB cord. Thanks to that, even if I was to get a club/lock/whatever- I cannot get insurance. I am too much of a risk. And it is not even my fault because I had my car BEFORE this crap.
@@reynamachado85 You can't get insurance for theft. You can get the minimum insurance required by your State. If your car is several years old that is all that matters.
We also have seen this in Louisiana and Florida. Something's gotta change with this Method of operation.
State Farm was being proactive. Something LA officials should learn to do.
*Like a good neighbor Statefarm ain't there!*
Be grateful for what you have, because we loose it in a blink of eye, be humble ,be faithful
Bass and Newsom said … “who could have known this wildl happen” said they were helpless. Yea no one except every insurance company in the exact area effected
Here in South Mississippi after hurricane Katrina the state told people they wouldn't get flood insurance anymore if you're in a flood zone unless you build your house 20 feet in the air. That might work in California.
Great move by State Farm. 🙌🏻
Pacific Palisades in California has historically experienced significant landslide issues, particularly during periods of heavy rain, with the most notable activity occurring after major storms, causing land movement and impacting homes in the area; this is due to the steep terrain and geological conditions of the coastal bluffs where the community is situated.
Insurance companies are "canary in the coalmine" indicators. Any sane government should be monitoring insurance premiums and policies to understand where the real risks are.
This is backwards. When the insurance companies said the risk of catastrophe was too great that’s when the citizens should have panicked & made the necessary changes to reduce the risks! The power lines should have been buried, brush should have been cleared ect. The fault lies with the citizens who once again blamed the insurance companies & not their own mismanagement
They have every right to cancel based on how the government was taking care of the problem. This is a Bass and Newsom mismanagement issue. They need to be held accountable
If you cant get insurance maybe ask why. Then consider your options carefully.
Many residents will probably take the insurance payout (if applicable) and sell their lot, then rebuild outside of State of California where cost of living is affordable.
Why isn't anyone looking at the homeowners who failed to maintain the required "Defensible Space" mandated by all the Local Fire Depts. in SoCal? Did they think that they would all be the exception because this is L.A.?
The state of California wouldn’t let the insurance companies raise their rates to compensate for the rise in costs of materials and labor
State farm also would have had plenty of people on the ground in the state to let them know nothing was being done to maintain the forest floor. That in and of itself is enough to justify insurance company's pulling out of any state. Selling insurance is supposed to be a calculated risk not the assurance of lose.
Over time, the agents on the ground reported the hazards and the decline in upkeep, aging wooden homes, weather patterns. Insurance relies on all these statistics to make a profit. It's concerning that they withdrew without anyone in California government noticing this glaring ⚠️warning sign.
For the record Altadena is not part of a forest floor
They did nothing to clear the vegetation near homes or have fire resistant homes.
They were smart otherwise could file for bankruptcy!!!! That places is fire danger period!!!!
Homes are dropping out of escrow due to borrowers unable to obtain insurance. I got cancelled last year due to a small amount of algae on my roof. Liberty did not even give me the opportunity to fix the issue. So replaced the roof and luckily got AAA only because I bundled my auto with it. If this continues its time to get out of California.
"Like a bad neighbor,
State Farm don't care"!
If the insurance company knew to cancel them, why didn’t the fire department know that this was going to happen?
They did Newsome, bass ,water schiff and Pelosi all declined land management
All should be charged with murder and now it's up to 31 dead
Fire department was also cut back on
It shows the contrast of business vs government. Some random underwriter at State Farm saw the high risk of loss a year ago and saved State Farm and it’s policy holders across the country a billion dollars, while the Democrats that run the government were too incompetent/arrogant to see the problem. State Farm is a “mutual” insurance company, which means it’s essentially owned by the policy owners not stock holders. But Instead of stepping back and wondering why insurance companies were leaving in droves, the Dems just plowed straight ahead with the same stupid regulations and complete lack of fire management, and this is the result.
If insurance company no longer wants to take your money. There is great "risk" and they don't want to be part of it.
State Farm are smart people. Fully support their decision. It's insane to built multi-million houses in these remote, dry areas. If you do, you are on your own.
Why would insurance companies take on such high risk areas!! Meanwhile, just keep paying those high premiums so Jake from State Farm can keep running those high dollar commercials!!! A bit of irony, because of the LA fires, the NFL playoffs between the Rams and Vikings has been moved to Glendale Arizona, at STATE FARM STADIUM
its' a personal choice to live in a high risk area. if you cant afford the higher premium or to self-insure with your savings, do not purchase a property at these location!
I certainly would not take the risk if I was an insurance company are you freaking kidding me
Like a good neighbor. How can you criticize insurance companies for understanding risk and taking action. The state, county, and city is mismanaged so they walked away.
State farm was smarter then the government at preventing a losss. If state farm knew this country happen the the government should have known this could happen
Insurers see DEI and incompetents running the place and things not being done. I don't blame them a bit for canceling.
Good. State Farm was prudent. Grossly overpriced California real estate, absurd regulations, unprofitable business. You need your head examined if you are underwriting anything in DEI Los Angeles.
Listen you Karens, Donald trump , the insurance companies knew the forest wasn't managed properly by your governor or mayor and they choose to do nothing for fire management , they would be stupid to insure such a high risk
I don’t think they learned from United healthcare.
Im cancelling all ny insurance even the one my wife pays to never use with her company all that money that could be saved
Is it only coincidence that the fires happens right after 70% of fire insurance ended?
Accurate risk modeling by the insurance actuarial algorithms. They've been sharing that data with the state for years.
Looking at what happened, it's pretty obvious why they canceled it. Had there not been restrictions on raising premiums, they might have stayed.
I’m a high risk driver cause I drink a lot. I can’t believe my policy was cancelled…😢😢
Time to cancel State Farm.
They pulled out in July. This isn't recent
If your insurance is not renewed or cancelled, you find another insurance company right away.
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Except most insurance companies pulled out of CA, because state regulations restrict what they can charge, and thus they stopped offering coverage in the state of CA. Easy choice for insurance companies. This is what happens when you interfere with the free market and impose onerous government regulations. It's not rocket science....
Farmers wanted to cancel me if I didn’t add a 400 dollar moen device that they had a partnership with. On top of the moen device cost add another 400 dollars for the plumber. Once plumber showed up he wanted another 1200 dollars. All these companies are scamming us.
This country is so corrupt ☠️
If I choose to build my home above a canyon which is covered with dry brush is it my responsibility to clear and maintain the canyon or is it the responsibility of the person or entity which owns the land in the canyon?
Sorry but north Carolina & Tennessee (as well as myself) have lost everything as well. Not near this amount of help was given to them. I’ve received absolutely no charitable assistance. But the celebrities and their friends will be well taken care of. When you wonder where your fans went, where the love of your country went, where the good in people left them, remember this past week and the discrepancies of how people were treated based upon their socioeconomic status.
What’s the point of insurance you pay and you pay and if something happens, they dictate way out of paying you back for the cancel your policies. What’s the point of even having insurance?
Whoever decided to cancel those policies need to get a raise and/or a promotion.
I find no blame if insurance companies bailed out BEFORE the fires. Time will tell how they act AFTER.
State farm has been raising prices and canceling policies to reduce its exposure in high risk areas. It is not that State farm cannot raise prices. It is they do not want that risk! Insurance premiums have been up and up each year and yet insurance companies still won't cover certain areas!
Smart business move. Those companies are not charity organizations.