They don't have any cash. They have to borrow it and then pay it. That's why the muck you around if they are Going to pay or not. They get knocked back on getting a loan and that's the true reason they don't pay up.
Mark, I just heard about a couple in their 90's lived in the same house and paid ins for 75yrs, never had a claim... Ins kicked them to the curb with no explanation...
If they only have customers like you, taking your premium and never paying you, why would they cancel your policy? Because they must be the stupidest greedy pigs out there, aren’t they?
@@Betty-o7w I'm pretty sure they could teach the rest of the country all about the entire situation, IF they were allowed to on here. So many people in true need, but yet, we're paying for everyone else.
I call bs on insurance companies claiming to be in crisis; they'll bail on these people who have paid high premiums for years, so they can cover their own asses and not have to sacrifice their multi million dollar bonuses
That happened to us last year. Our rates were going to triple or quadruple. So we sold our house and finally fled to the Free State of Florida, and we couldn't be happier. Central Florida is a garden spot.
What is ridiculous is not managing the fire risk in California and insurance company correctly calculates that the next one is gonna cost too much. If you keep blowing up your house, why should insurance company be there to pay for it?
The insurance companies stop insurance people months ago. Most of these people will have zero to rebuild on! If they own their land, they may get something for their land down the road, but rebuilding is gonna be nearly impossible if they’re not wealthy.
@@Mutanttaint Please ask a more intelligent question. Who is they? Like 100% of those who lost a home? And they had months. Again, all of them? And they, as in all of them did not get insurance? So… they = 100% of everyone? Or just 100% of everyone in your limited thought process? I suspect you are MAGA. Am I right?
Insurance companies are owned by banks, banks get bailed out all the time. Not to mention the insurance companies covered things when they were making money, now they are dumping people that may cause them a dent in their earnings and bonuses. Why should we care that the insurance companies are in crisis ?
It's the leadership in California. There's millions of illegals driving around with no registration and flee when they hit someone. And there's no water when the fires come. It's a SYSTEM issue. The California policies are chasing everyone out of California.
isurance companies make record shattering profits every year. They control everything including politicians. Don't believe they are in trouble for one minute.
I called it. I knew right after this was gonna happen that the insurance claims were going to be denied or I bet they’re gonna have hard time getting the money I knew that was coming.
😩🤦🏼♀️ people are probably clueless. They’re probably on pins and needles. They have nowhere to go. They don’t know where to go. The air quality is horrendous. I wouldn’t even be surprised if a lot of of these people end up with cancer down the line this is a disgrace to the people of California
Does the insurance companies warned the government officially about the discovered issue or just they hide the information and use it for own personal benefit?
Rather than rebuild. The State & Feds could purchase all the properties, clean up the rubble and let the area, all the way to the ocean, go back to nature. No more building. Turn it into a protected area & State or National part. Much like Yosemite or Yellowstone.
" Up date your insurance , go get more coverage so you have replacement cost" I'm sure the ins. comapnies in Cali would LOVE to quote you a nice, new number for an updated policy Just be sure you're sitting before reading it
That’s absolutely true! A lot of people get a policy, but they don’t keep their policy updated as times change and then natural disaster hits and they’re out of luck. People need to realize that a lot of insurance don’t cover your neighbors tree if it falls on your house! Don’t know your policy.
Why would people return to California when they already escaped from California? You realize that moving to Texas from California is expensive right? California is becoming a dead zone.
Several videos showed the fire proof safes people had in their homes were destroyed. Typically, the safe is only guaranteed to last for one hour. If the home is still on fire after that, the paper contents of the safe will burn.
I can't get insurance in Canada. I tried and they told me that because I have more than 5 acres I can't get insurance. The last time I went to get my vehicle insured, they asked me about my house insurance and I told them my dilemma, and they took all my property information, said they'd investigate, get me insurance and call me back in two days. I never heard from them. I don't get it. You can't insure land, just buildings. Anyone else have this problem?
On a positive note, there’s sure to be lots of jobs in the insurance industry in coming months - at least among the insurance companies which don’t declare bankruptcy!!!
I once had a 10k car and didnt insure it for collision, and hit a Moose and totalled it. I expected nothing for the car because I was not insured. These uninsured home owners should not expect anything for their stupidity.
We can barely pay the home insurance today. If they keep raising everything except your salary…, it becomes totally unaffordable to live in the US today. They are going to make us all homeless. Not only that, the quality of construction is worse and worse every year and we keep paying more and more… insane!
I wouldn't live in that area. Most of those people were older retired people anyway in a stupid house that was way over valued in a state that charges you state income tax on top of everything. Collect what you can and move to another state where $250,000 bills you a very nice house. Or you just buy one actually. And you have enough money for a car or a truck. California has needed a really hard shake up for many years and now they got it. They need to come down to reality over there.
If I owned an insurance company I wouldn’t insure any state that didn’t do anything to prevent fires either. Ex sweeping brush etc. Thank your governor and mayor.
Insurance company and their excuse’s it’s all bull s-- ppl should step up and don’t allow their insurance company who dropped them go to the government. Stop them for a change, don’t allow them to pocket those millions , but they will and have pocketed your money
These people paid into a system that is suppose give them peace of mind, to support them in times of need. These Companies need to step up and do more than is necessary.
Yep, and whenever something like this happens, you can 100% guarantee everybody’s insurance rates are gonna go up around the United States. Absolutely if they get sued by one person or if they have to pay out millions to the rich guess what everybody else is gonna pay them back through the rate racist that they’re gonna slap on us😡
0:38 what should they do right now? Simple as a California we should stand behind mayor Bass and Gov Newsom and continue to support the democrats, none of this would’ve happen if it wasn’t for the republicans! Skid Row new residents from the palisades skid row is definitely getting gentrification now
It's not a crisis. It's irresponsible home ownership and they shouldn't get a government bailout. It's like driving your vehicle without insurance. The state gives you a ticket that's what they should get
Maybe we should stop building big expensive homes. It is time to get back to building small 500-600 sqft homes that can easily get rebuilt. The zoning laws and building codes have to change.
LA can rebuild, but who is going to insure the new structures? Living in LA or much of California is like living on a pile of firewood. The place is not suited for large scale human settlement. People should get a hint and move somewhere else.
Any other business or civilian conducting themselves as an insurance company would be prosecuted as fraud. If the insurance company salute to Luigi, much respect by the man a cup of coffee if you can.
I DO NOT BELIEVE IN CLIMATE CHANGE. I BELIEVE IN GOD'S JUDGMENT NOW HAPPENING AROUND THE WORLD. TO THE WICKED, PUNISHMENT BUT TO THE RIGHTEOUS, REWARDS.
I highly doubt insurance companies are in a position to pay off thousands of multimillion dollar homes and businesses at the same time. Am I wrong or won't this bankrupt them?
No they wont go bankrupt. Everyone's homeowners insurance across the United States is going to skyrocket. Also, many insurance companies dropped their insurance coverage weeks ago for a water crisis -alot of the homes were not covered and the homeowners are screwed
From being insured and assured by a golden globe at the awards.....to being uninsured and losers by America's latest Golden world in their world. Not to take away from the tragedies and the suffering who really loose everything,and will be desolate (not out of pocket) with families for a roof over their head,meals,comfort of a bed and safety. Really all very ironic!
If you think a lot of policies were canceled last year, just wait until you see how many get canceled over the next year! Don't forget, Southern California is earthquake central. And climate change is going to get worse, not better. If we had such fires in the middle of winter, wait for summer!
I've been paying ridiculous insurance for 40 years, never a claim. These companies have money, or they should be in prison!
They don't have any cash.
They have to borrow it and then pay it.
That's why the muck you around if they are Going to pay or not.
They get knocked back on getting a loan and that's the true reason they don't pay up.
Mark, I just heard about a couple in their 90's lived in the same house and paid ins for 75yrs, never had a claim... Ins kicked them to the curb with no explanation...
They are CR..KS
If they only have customers like you, taking your premium and never paying you, why would they cancel your policy? Because they must be the stupidest greedy pigs out there, aren’t they?
@@philspd473you people don’t understand the first thing about “insurance”. It’s called “pooling” of risks.
Doesnt look like wokism is working out too well for CA.
Critical thinking is suffering all around.
What does wokeism have to do with insurance companies canceling coverage? Are you an NPC or something?
I thought the insurance companies canceled everyone’s fire policies a few months ago because of the city’s neglect on water management?
only a few carriers, the main one being state farm. there are still active fire policies with other insurance companies.
They didn't cancel, and they didn't renew the policies; there is a big difference
If they did that the banks would be repossessing all their properties because they have no insurance, same as they do with car loans.
I guess you thought WRONG
They cancelled about 40% of the fire insurance policies before the fires.
Watch everybody else’s insurance rates go up across the country.
Bastards …..😡
I see that coming but I don't think the insurance going to pay out on them burning homes in California😢
You mean like they did on our auto insurance?
Ask North Carolina
@@Betty-o7w
I'm pretty sure they could teach the rest of the country all about the entire situation, IF they were allowed to on here. So many people in true need, but yet, we're paying for everyone else.
Of course everyone will have to bailout the Insurance Company’s, the Feds won’t!
I call bs on insurance companies claiming to be in crisis; they'll bail on these people who have paid high premiums for years, so they can cover their own asses and not have to sacrifice their multi million dollar bonuses
Exactly!
Tax payers will have to pay for these properties. Insurance Companies never loose. They just make money for themselves.
This is what Luigi said before
When you upgrade your house and report it your insurance premium increases.
That happened to us last year. Our rates were going to triple or quadruple. So we sold our house and finally fled to the Free State of Florida, and we couldn't be happier. Central Florida is a garden spot.
@@johngalt5205it definitely is. We love it here too. Excellent choice!
@jmoney8962 We are just south of Leesburg. Where are you?
State Farm did not do that when I lived there
@@johngalt5205 Leesburg East a couple miles from Tavares
After what happened to the United healthcare CEO these people really want to push people to do the same to them 🤦🏽
I guess you want insurance companies to cover land that's OBVIOUSLY a BIG fire risk...Blame Cali government not the insurance companies.
Litigate against LA Woke Fire Department, Mayor, Fire Chief, etc etc etc
This is ridiculous raising your insurance amount by 40%
That's cheap. Mine doubled without a claim in 30 years.
@@susanlovesjava4961 that’s still cheap without a claim in 30 years
A few months back, some insurers simply cancelled homeowner policies of people living in that area and left California.
What is ridiculous is not managing the fire risk in California and insurance company correctly calculates that the next one is gonna cost too much. If you keep blowing up your house, why should insurance company be there to pay for it?
The insurance companies stop insurance people months ago. Most of these people will have zero to rebuild on! If they own their land, they may get something for their land down the road, but rebuilding is gonna be nearly impossible if they’re not wealthy.
So they had months to get another insurance company but didn't?
@@MutanttaintDepending on what company yes. But then some just have dropped their policies left and right down the line.
@Anomize23 true, but there are several companies to choose from.
@@Mutanttaint Please ask a more intelligent question. Who is they? Like 100% of those who lost a home? And they had months. Again, all of them? And they, as in all of them did not get insurance? So… they = 100% of everyone? Or just 100% of everyone in your limited thought process? I suspect you are MAGA. Am I right?
@@Ulysses.S.Grant.For.The.Union.You sound vaccinated.
The housing price is nut in CA.
Insurance companies are owned by banks, banks get bailed out all the time. Not to mention the insurance companies covered things when they were making money, now they are dumping people that may cause them a dent in their earnings and bonuses. Why should we care that the insurance companies are in crisis ?
It's the leadership in California. There's millions of illegals driving around with no registration and flee when they hit someone. And there's no water when the fires come. It's a SYSTEM issue. The California policies are chasing everyone out of California.
isurance companies make record shattering profits every year. They control everything including politicians. Don't believe they are in trouble for one minute.
And guess who the bank backed for president? It wasn't Kamala.
I called it. I knew right after this was gonna happen that the insurance claims were going to be denied or I bet they’re gonna have hard time getting the money I knew that was coming.
😩🤦🏼♀️ people are probably clueless. They’re probably on pins and needles. They have nowhere to go. They don’t know where to go. The air quality is horrendous. I wouldn’t even be surprised if a lot of of these people end up with cancer down the line this is a disgrace to the people of California
Insurance agents and companies are even less trustworthy than lawyers and politicians...they will still end up making money out of this somehow 😢
We did it, Gavin 👏
Don't forget The Resnicks'
Mazel tov
The algorithm needs to pick this up
Does the insurance companies warned the government officially about the discovered issue or just they hide the information and use it for own personal benefit?
Rather than rebuild. The State & Feds could purchase all the properties, clean up the rubble and let the area, all the way to the ocean, go back to nature. No more building. Turn it into a protected area & State or National part. Much like Yosemite or Yellowstone.
" Up date your insurance , go get more coverage so you have replacement cost"
I'm sure the ins. comapnies in Cali would LOVE to quote you a nice, new number for an updated policy
Just be sure you're sitting before reading it
Careful not to over insure, They can decline your claim.
Praying for you California...please stay safe. Hope the insurance companies do the right thing.
Don't hold your breath while waiting.
I understand by what he's saying that over seventy five percent of the people will not return and rebuild.
You can not even get insurance in California.
Keep papers like insurance, wills,etc. In fire/water proof safe.
Insurance does not only exist on paper. This is 2025.
Most of those “fireproof” safes wouldn’t survive these house fires.
@zinniagarden gee thanks
Like I heard; they dropped everyone’s ins a few weeks ago! ……coincidentally things that mk ya go hmmmmmmm!!!!
"Policy? What policy? do you have a policy number?"
I foresee 5 years of runaround before they pay a lot of claims...
That’s absolutely true! A lot of people get a policy, but they don’t keep their policy updated as times change and then natural disaster hits and they’re out of luck. People need to realize that a lot of insurance don’t cover your neighbors tree if it falls on your house! Don’t know your policy.
Why would people return to California when they already escaped from California? You realize that moving to Texas from California is expensive right? California is becoming a dead zone.
These people should’ve had a fire proof safe that keeps there personal things safe .
Several videos showed the fire proof safes people had in their homes were destroyed. Typically, the safe is only guaranteed to last for one hour. If the home is still on fire after that, the paper contents of the safe will burn.
Great advice for anyone whose policy wasn't cancelled out from under them, four months ago.
People should have had their important paperwork saved in a safe deposit box
The physical insurance papers are not an issue for anyone.
We have all our important documents , gold, cash, photos, and the list of contents worth anything!
Don't worry, Newsom is on the job.
Fire hydrants are empty, reservoirs are have been empty for over a year. Wonderful.
Build it back better sounds familiar 🤨
Defunded the firefighters… and you wonder why insurance is leaving…
Can i put it on my card with tip
Once this is over, rebuilding will be virtually impossible as NO INSURANCE company is going to cover anything for miles around there.
I can't get insurance in Canada. I tried and they told me that because I have more than 5 acres I can't get insurance. The last time I went to get my vehicle insured, they asked me about my house insurance and I told them my dilemma, and they took all my property information, said they'd investigate, get me insurance and call me back in two days. I never heard from them. I don't get it. You can't insure land, just buildings. Anyone else have this problem?
On a positive note, there’s sure to be lots of jobs in the insurance industry in coming months - at least among the insurance companies which don’t declare bankruptcy!!!
Vice President said it's a shame, but what is she going to do?????😢
What kind of Vice President do we have???????
She was proud to offer $750 to flood victims in NC if they qualfied.
Somebody took their eye off the ball
and it was not the insurance company. Commissioner should have looked more closely as to why insurance wouldn't renew.
I once had a 10k car and didnt insure it for collision, and hit a Moose and totalled it. I expected nothing for the car because I was not insured. These uninsured home owners should not expect anything for their stupidity.
Climate change? 🙄
What a joke, here in Las Vegas it used to be an ocean with fish sticking out of the rocks, climate change is a way to charge you more.
That’s why there is Law and Lawyers. Fight for your rights. Don’t sign anything until you consult a property atty
We can barely pay the home insurance today. If they keep raising everything except your salary…, it becomes totally unaffordable to live in the US today. They are going to make us all homeless. Not only that, the quality of construction is worse and worse every year and we keep paying more and more… insane!
Don’t worry. A large company will buy the land and rebuild and charge 3 times more than the original price was.
I wouldn't live in that area. Most of those people were older retired people anyway in a stupid house that was way over valued in a state that charges you state income tax on top of everything. Collect what you can and move to another state where $250,000 bills you a very nice house. Or you just buy one actually. And you have enough money for a car or a truck. California has needed a really hard shake up for many years and now they got it. They need to come down to reality over there.
Fiscally responsible and respectful states don't want loony bin liberals anywhere near them.
Will homeowners in Los Angeles continue to make mortgage payments after their houses have been destroyed by fire?
Why y’all ruining your city for little fish?
The Resnicks' control CA water.
If Canada can become a 51st State; how about Blue States joining Canada 😊
Think about it you wont be sending your taxes to poorer states anymore.
If I owned an insurance company I wouldn’t insure any state that didn’t do anything to prevent fires either. Ex sweeping brush etc. Thank your governor and mayor.
As long as upgrades are permitted and pass code enforcers approval it becomes structure in like manner as original structure
Will the insurance e cover wild fires damages
Put all your important stuff in a big bag in case of fire , grab your pets and thats all that you need
Farmers wouldn't pay a dime , Because I had the Ca Fair Plan for fire coverage who had less coverage amounts
Insurance company and their excuse’s it’s all bull s-- ppl should step up and don’t allow their insurance company who dropped them go to the government. Stop them for a change, don’t allow them to pocket those millions , but they will and have pocketed your money
I have my fire bag already packed and ready to go
These people paid into a system that is suppose give them peace of mind, to support them in times of need.
These Companies need to step up and do more than is necessary.
Will my faulty renovation job still be pursued ?
Privatize the gains. Socialize the losses. This is why Mangione allegedly did what he did
Climent Change??? What about weather???(😮😮😮😮😮😮😮
Very bad fire
Yep, and whenever something like this happens, you can 100% guarantee everybody’s insurance rates are gonna go up around the United States. Absolutely if they get sued by one person or if they have to pay out millions to the rich guess what everybody else is gonna pay them back through the rate racist that they’re gonna slap on us😡
0:38 what should they do right now? Simple as a California we should stand behind mayor Bass and Gov Newsom and continue to support the democrats, none of this would’ve happen if it wasn’t for the republicans!
Skid Row new residents from the palisades skid row is definitely getting gentrification now
It's not a crisis. It's irresponsible home ownership and they shouldn't get a government bailout. It's like driving your vehicle without insurance. The state gives you a ticket that's what they should get
Fca🎉🎉🎉
Most just had their policies dropped from these companies
These people had insurance but were dropped prior to the fire
I think that they meant insurance scam not crisis
Maybe we should stop building big expensive homes. It is time to get back to building small 500-600 sqft homes that can easily get rebuilt. The zoning laws and building codes have to change.
LA can rebuild, but who is going to insure the new structures? Living in LA or much of California is like living on a pile of firewood. The place is not suited for large scale human settlement. People should get a hint and move somewhere else.
It doesnt rain in southern California.
Any other business or civilian conducting themselves as an insurance company would be prosecuted as fraud. If the insurance company salute to Luigi, much respect by the man a cup of coffee if you can.
we already know the insurance companys in californiA will have to be helped by the government.
Is insurance there to protect, support and help civilians or just a business for profit, if the latter, we'll never fully be insured.
Its crazy million dollars homes still burn to the ground
Can they afford these insurance
I DO NOT BELIEVE IN CLIMATE CHANGE. I BELIEVE IN GOD'S JUDGMENT NOW HAPPENING AROUND THE WORLD. TO THE WICKED, PUNISHMENT BUT TO THE RIGHTEOUS, REWARDS.
FACTS 💯 💯 💯
First health insurance now homeowners insurance soon car insurance!
Bail out the insurance industrey
Gavin newsome & major need to resign. The blame starts at the top. 😡
I highly doubt insurance companies are in a position to pay off thousands of multimillion dollar homes and businesses at the same time. Am I wrong or won't this bankrupt them?
No they wont go bankrupt. Everyone's homeowners insurance across the United States is going to skyrocket. Also, many insurance companies dropped their insurance coverage weeks ago for a water crisis -alot of the homes were not covered and the homeowners are screwed
From being insured and assured by a golden globe at the awards.....to being uninsured and losers by America's latest Golden world in their world.
Not to take away from the tragedies and the suffering who really loose everything,and will be desolate (not out of pocket) with families for a roof over their head,meals,comfort of a bed and safety.
Really all very ironic!
Blah blah blah !
Look both ways before crossing the street.
Brush your teeth after every meal.
Don't build your house in a wildfire zone.
JOSEPH McCARTHUR was right
Rocks. Fire can’t burn through rocks. Just look at the flintstones. Fred and barnie knew! Rocks!
The ceo. Must go jail.
Insurance is here to make $, they will find all kind of "fine print" to get out of paying......
Insurance is such a scam
😯Chip said the "C" word on Foxnews.
Say your prayers to me
What if the insurance company burned down
I upped my coverage by 50% but it cost more.
I can’t listen to this guy. Fox get rid of him.
I wish people paid me for insurance and when they make a claim have the taxpayer pay for it.
The state needs to double the property taxes for everyone so they can pull together for these poor people!
If you think a lot of policies were canceled last year, just wait until you see how many get canceled over the next year! Don't forget, Southern California is earthquake central. And climate change is going to get worse, not better. If we had such fires in the middle of winter, wait for summer!
Califirnia’s mayor as well as “ New-Old-SOM to GITMO!!!!!!!!!
I hope the taxpayers dont have to bail out California..they voted in these elected creeps
F Liberty Mutual. It’s awesome to see these insurance company executives fear further Luigi L O L salute respect AMERICA loves you, Luigi.