Insurance company tells Menlo Park homeowner his house is too old to insure
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- Опубликовано: 19 июл 2023
- Robert Wendell received a surprise notice from his insurance company in the mail recently: a notice of non-renewal for his homeowners' insurance because his home is too old. Wilson Walker reports.
Meanwhile some newly built houses are riddled with flaws.... 😂
Insurance companies are the largest election donors in Sacramento and control the laws and regulations.
In 2022 Oracle was the largest donor to Ca state.
I'm they are just giving donations to elections. Most likely some personal "donations", as well. How else are politician making million$ ?
That should be public information, if it already is then it needs to be reported on and easily accessed so that ALL voters can see the amount lobbyists are "donating" to their elected politicians, what perks/gifts they are getting and also how that affects their votes. Because they don't vote for us. They vote to protect themselves and their cash cow$.
Just like Big Pharma. GREED.
OK. Let's all go live in tents on public land and stop paying all taxes. Ridiculous! Many older homes are better built than the newer ones.
Taxes have nothing to do with insurance
Exactly!
@@R0M8N What funds the State Insurance Commissioner's Office? Are they doing their job?
@curiouspenguin6887 property taxes funds many state and local agencies so what?
absolutely
We're at the mercy of corporate thieves, who are calling all the shots.
Imagine if an entire Historical District couldn't get insured because of age. Also plenty of municipal buildings, office building, and Churches older than that.
If they were destroyed, cities and counties would basically never be able to rebuild. Neighborhoods and communities would be empty lots for the wealthy and wealthy foreigners to pick up land really cheap.
We're doomed if an earthquake hits. Let's all hope and pray for us all to be safe.
Gov should make the law if they kick you out and you have no claims half your premiums are returned from the life time of the policy.
and you'll end up with 0 insurance companies left, BIG FAT 0.
Declining insurance coverage to houses based on age sounds discrimination. An old house does not necessarily mean falling behind code upgrades, though often they are. So the insurance companies must provide specific reasons.
We were declined coverage by our insurer unless we fixed the roof while we were working out the details for a remodel. So we accepted that as a valid reason. Our house after remodel would be a brand new house except the framing and the foundation.
There should be a class action against this insurance company... 💡
This is nothing new. It's been going on for years.
People who purchase period homes- because the age might be a couple of hundred years old where you can't get insurance at all.
My house is over 100. Previous owner upgraded the electric and plumbing systems. And added earth quake protection. There is no reason to reject a house because of age if the electric and plumbing are new. Frickin insurance companies! Cant the state insurance commissioner do something?
Pure greed. What about the almost 30 years this homeowner paid?
Used to pay out other people's claims? This is, after all, how an insurance pool works.
Look what a lifetime of paying taxes has done.
Reparations for all, no benefits left for you.
Insurance is failing like goverment ...the ponzi scheme folds.
That’s what I was thinking 😢
Insurance companies cannot be trusted! How much do their CEO's make??? Follow the money.
My house was built in 1949 and built better than any new home out there.
Absolutely!!!
If no claims where ever made the insurance cabal should be made to return all money the insurers paid. All years returned to them
The guy in the vid is looking for coverage, how about you starting an insurance co and covering him and others? Just think, you have an instant customer base.
it doesn't work that way - you paid an annual premium for them to provide one year of coverage and they accepted the risk for the 12 months PERIOD! at the end of that year the terms of the contract has been satisfied by them, they provided what you paid for. each year they send you a new contract offer (policy) and you accept that contract by paying the premium.
@@yorinov2001insurance is a scam. End of story
@@yorinov2001 obviously it isnt working that way. Thew gentleman paying the insurance figures he will do that fo 40 years. When the insurance mob collects there money and gives them nothing but piece of mind then drops them after 25 years is criminal . I think u should give them insurance. Obviously if they have no Claims. You could offer it at a much lower rate
The insurance companies need to give these people a full refund for every penny they paid over the years.
WHAT! So what if it's to old!!! This is B.S.! CALIFORNIA is so F'ed up!
This is an insurance industry thing, not a CA thing. Check out what's happening with home insurance in Florida.
@@curiouspenguin6887it's a national thing, California just leads the way of goverment destruction in dispare. This is going to hurt residents....fire, flood, wind...kid burned a hotdog, battery bike caught garage on fire.
It's a big deal.
Czu fire clients are still struggling to rebuild....I don't have experience with paradise fire other than old news.....
It's a dang big deal.
I missed which insurance company he's dealing with. .
It should be a class action lawsuit against insurance company
Glad we put a new roof on couple years ago, but our home is over 100 years old now, but was updated sometime in the 70's both the foundation, and the wiring....
The problem with insurance companies is that you hand over your dues for 30+ YEARS and when you do have to make a
claim... they say that's not covered... or they offer pennies on the dollar that you will need to fix the problem.
We need more regulation so they can't just sit back and rake in the money for nothing in return.
Ladies and gentleman, that was Menlo Bark! 🐕🐕🐕
You probably need to ask the neighbors who their insurance company is
The house is too old to have to be the dumbest BS excuse I ever heard from an insurance company
Older buildings = older in-wall wiring, older circuit breakers (if not fuses), no sprinkler systems, gas stoves, few or no fire alarms, and so forth. We live in a 1964 house in Oakland, maybe we are next in line to be dropped.
NO. They upgraded ALL!!!
I could understand if they won't insure because of wiring that's not up to code, plumbing that is also not up to code and roofs that are old, the house is is in disrepair, it's in an area with there is dry grass, brush, overgrown trees and landscaping, but just an arbitrary, "You house is too old" and never mentioned in the policy does't make sense. That should be for new policy holders when they move.
maybe, you have to take into consideration renovations that have probably been done over the years.
My neighbor had a leak in their foundation wall that led to a flooding in their finished basement. Insurance company response: "Oh sorry, foundation wall leaks aren't covered. We will pay you exactly nothing. Have a nice day"
In the Northeast we aren't having these issues, YET. We have houses regularly 200 to 250 yrs old.
Regular people need to start their own policies where there would be a slush fund available for them- PRIVATELY ❤
People need to understand that this country isn't about people or society. Everything will be better when we don't have to take into account people's lives.
Which insurance provider dropped these homeowners? That would be information of use to the public.
Appeal! This is insane.
Just open a SAVINGS ACCOUNT.
Keep your money out of the hands of insurance companies.
They are vampires.
I was stationed at the Mare Island navy yard in the early 1980's and loved the area. At that time I thought when I retire I wanted to come back to live. I never was stationed anywhere near there again and only would return on vacations. The way CA went down I'm glad I never made it back to live there. This just sucks what the corrupt insurance company did to these people. Shalom
California makes it difficult for insurance companies to raise rates. As a consequence, canceling policies of properties deemed higher risk to limit their exposure and improve profitability. Seems odd their policy was cancelled, but other homes of similar type and age weren't. Wonder if they've filed any claims in recent years or there's something different about their house.
So where is Ca’s insurance commissioner and his position on this?
Insurance ensures forclosure.
Okay so you can't insure a home that is technically not old you can insure a home for fire are earthquake in you can barely insure your car so I'm guessing the insurance companies are going to tell people how to live their lives now this is stupid and utterly ridiculous so I guess we can't get a loan against this house no insurance can't sell the house no insurance
They know nothing about construction the older buildings have better bones (framing)..... I should know a General Contractor.
LOL, so they're reacting to actually providing insurance. Welcome to the shell the game of "insurance".
These insurance companies are fleecing us dry.
58 years is not an old house. Bu its any excuse to pull the rug out from under all Americans any which way.
Many homes in Hayward were built in the 1950s.
This sounds very suspicious!!! Has anyone noticed this has been happening all around the country where major insurance companies are canceling insurance or no longer offering new homeowners policies. California makes a little sense because of the wildfires which costs insurance companies enormous amounts of money. I can't think of any other time in history when this has been so rampant, And yet the media has been very quiet about this, just mentioning it on occasion. This will force homeowners either to sell their homes or find another company which will charge them very high rates!!! You will own nothing seems very probable!!!
This is insane!! How old is too old? Most CA homes were built in the 1960's. They just made that up as an excuse to cancel the policy.
older homes are built better then today because they used better materials, this is total bs.
It has also been said the the "open" floorplans of today's homes makes them more deadly in case of fires, they used to say "feel the door" if you sensed fire, if it was hot, don't open it - now we have much less doors and more open area -
This is all about the cost to replace the home. As valuations go up, insurance companies claim they are losing money due to replacement costs. Inflation is part of the blame as well as other factors.
His provider?? One less bill to pay!
Insurance companies only want to insure property owners that will never file a claim. What a complete scam.
What insurance company did he have?
Insurance companies losing too much money to fraud. How many people do you know who’ve put in claims and pocketed thousands?
Add an interior sprinkler system.
Every remodel requires it.
Absolutely ridiculous considering the age of my house in UK and fully insured
It’s because of pg&e bs
Wrong, wrong, wrong.
I’m looking at buying a house that’s 100 years old. Granted we’re not in fire country, but 100 years old house is very common in my neck of the woods.
If you cap premiums to a point where the insurance companies can't make money, they will cancel policies. It's just that simple. It doesn't matter where the home is located, its age, or fire risk because they are all part of a pool that covers the cost for any particular home that is damaged. The insurance company also has to figure the risk potential (though small) that all homes could be lost in a catastrophic loss and charge accordingly. Their goal is to survive and to make a profit. So, if they can't charge what they need to do so, they'll just not renew.
Sell and move
hiring practices at these companies may need looking into
Why?
I hate to be a naysayer here, but the house is indeed in a high-risk fire zone. That tall tree standing next to he house, is a veritable torch. But a house's age should not be a criteria for housing insureance, as oftentimes insurance is a mortgage requirement.
Maybe its because the property Values in Menlo Park are so inflated from the tech bubble. Why would you insure an overvalued house
Please reviewing his story and get Newsome on for an interview
Too old? Mid 60s.
I was told this year the EXACT same thing.
Gosh.
Absurd 🤬🤬🤬
So legislators would rather have new mega homes built on the sites to allow for higher taxes and a different population.
"You will own nothing and be happy". K. Schwab. WEF.
It's the trees. They are too much of a potential liability.
The house went up a million dollars plus in the last few years thats the problem
Many older homes are better built than the matchstick ones made today. Ridiculous, just a reason to drop them.
Winsurance for the corporation
Rob Bonta is busy working.
Insurance companies aren't hurting they have assets trust me......
Amy boche should have been a model ❤❤🎉😂
Its a news feed.....she is
what a bunch of BS .
Down goes the value of your home. What a devastating loss.
This IS A big California problem that is affecting other states.
I appreciate the insurance companies dropping the state like most corporate business have.
Enjoy the weather, economy, sideshows and available shopping.
Dont snibble, we as a nation dont want to pay your fire, flood, theft reparations anymore.
danielbrown: I see posts from Californians all the time that brag to people who left or are leaving CA for better lives in other States that those people won't be missed, that CA is super wealthy and pays for all the Red States, etc.
I try to tell them that What Is doesn't mean it will always be.
CA has been an extremely blessed State with good administrations for a long time. So, there's a generous cushion between the California They built and made great, and the CA that the last couple administrations have basically begun to drive into the ground.
Now, the fanaticism that drives many of these people is driving away businesses, business owners, and law-abiding taxpayers in the middle and upper classes.
As they leave, the replacement population isn't as helpful, so, eventually, the outgoing flood will be more than the incoming flood, and terrible leadership and bureaucracy will sink the entire State Despite everything CA had going for it before
It’s California what would you expect 😂
False - insurance is cancelled also in Florida
@@David_Journey insurance never wants to pay out they are like leaches but the cost of living here is insane.
@@61amaral Why are you making such a dumb comment in your original post?
Capitalism lays another rotten egg!
All Hail Capitalism!
As the former underwriter yes you can have a house that is too old to insure and all you have to do is go to Surplus lines
Desantis did it
Sale your house.Move into apartment.Good old days are over⏳⌛
Climate change? LOL
So dumb. They try to fit that agenda in wherever they can.
Home owners deserve this for blocking new development for decades.
Where is slowly switching over to Communism people
You can stop that alleged trend. The guy in the vid is looking for coverage, how about you starting an insurance co and covering him and others? Just think, you have an instant customer base.
This is the opposite of communism. It’s business as usual. The insurance companies are in it for money, pure and simple.
We may need socialized insurance.
Definitely not communism!
How is this communism? A company looking to maximize profits by eliminating risky policies is pure capitalism isn’t it?
You are obsessed with California, why is that
WEF. "You will own nothing and be happy."
if insurance companies want to use excuses to drop customers, then they should return all the money that customer payed out, that would be fair