I live in Southern California. I started having issues with my insurance provider last year and they ended up not renewing my policy. It was stressful trying to find a new provider. Luckily, AAA insures just about every one. Most companies won't issue new policies if your roof is over 20 years old and/or your furnace is over 25 years old. And if you're in a fire zone, forget about it. It will get to the point where you try to sell your house but the potential new buyer can't get insurance. Eventually, your house will become unsellable as a result. Unfortunately, I have elderly parents nearby, so I can't move out of state yet.
Farmers canceled my dad’s insurance on his cabin in the Sierras cause this 8x6 deck he had outside the master bedroom didn’t have a guard rail. It was 16 inches off the ground lol
My cousin had to remove a metal shed from his backyard because as his insurance agent told him, "If a burglar enters your property he could scratch himself in that old shed and he could get tetanus." I kid you not. Lol
Farmers cancelled my homeowners policy that I had for 22 years with 0 claims. They claimed I am in a "wildfire area". I live in the middle of a CITY! There is no wild grass for over 1 mile from me. They said I needed more defensable space. I am surrounded by asphalt streets and other homes. What space????? I kid you not. bunch of Aholes. I will NEVER use them again for anything.
Yes, they are looking for any reason to cancel right now. My folks have a home in urban Sacramento and Geico canceled their insurance after it somehow saw that they were doing roofing repairs. My dad did the work himself with some friends and people from the Home Depot parking lot, but yet Geico wanted paperwork and invoices and everything else which we told him we did not have. They ended up canceling because we couldn’t provide them invoices that we didn’t have for work done even though we sent photos and all inspection records and the final completion paperwork from the city.
I'm so happy I made productive decisions about my finances that changed forever. I'm a single mother living in Vancouver Canada, bought my first house in October and hoping to retire soon if things keep going smoothly for me.
Honestly home owners insurance is a scam. Premiums go up whether you make a claim or not. If the government wants to help people out, remove the requirement for home insurance if you get a mortgage(based on credit score). Let the individual decide whether or not they want insurance. The only entity that is at risk for uninsured homes are the banks which get bailed out by the tax payers anyways.
I live in California. Since 2012 every year my insurance would go up 30%. State Farm finally canceled my policy. I have never made a claim. Ridiculously unbelievable!
Insurance is a competitive marketplace, if price controls are such that no one can make money, then there will be no supply. Same as putting price controls on food. Supply will dry up.
People think insurance is a scam, and California should make law to allow people to buy a home without insurance. Or California to run a government insurance company to feel the pain of the private insurance companies
Home and Car insurance is up 50-60% in Texas. Flooding has become so normal after a storm it’s absolutely ridiculous. Infrastructure in Texas is awful. In 2024 alone we have had over 15 days of no power for multiple days straight all due to Texas being in its own electrical grid.
I live in Texas my car insurance has gone up 10% and homeowners about 25% and have lost power 2-3 times this year during a storm but each time the power was back on in 30 min or less. Guess it depends on where in the state you live. Have another home in Arkansas and a couple vehicles registered there and home/car insurance went up about the same. I only have collision & theft coverage on 1 out of 5 vehicles though as the other cars are 10-25 years old and not worth the cost of full coverage even though they all have less than 60k miles on them. Insurance just won’t pay out hardly anything for them if totaled or stolen.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you . prevent inflation
Thanks for continuing updates I'd rather trade the crypto market as it's more profitable. Make a good amount of money per week'even though I barely trade myself
One little piece missing.. We don't have more fires but we have about 3 million more people living in areas that are prone to fire than 20 years ago. Very large part of the problem is the regulations have not allowed the industry to factor this in. We all must be equal and "fair".
Im an insurance agent in California and everything that was said is true. My agency is loosing clients left and right due to high costs and non- renewals and in top of that the company decided to lower our commission. For a lot of agents is getting to the point of thinking if closing the agency and do something else would be a better decision.
Im an agent in CA as well. We joke that we make $2 for every CA Fair Plan we write 😂. I’m in a high brush wildfire area and the non renewals are crazy!!! For now, I’m just writing commercial business but even that is getting really tough. I think CA Fair Plan will go insolvent. We just have to pivot and stay resilient!! Hang in there!!
In California insurance companies are sending notices to homeowners and asking them to take pictures of their home. After they do this to take the matter if they have cleared garage or treat away from the home, they get notice that they will need to buy supplemental fire insurance for an extra 2000 a year
This is by design, they want to move to state owned insurance. The best racket to raise more funds, again when I sent you a message almost 2 years ago.
I left CA about 20 years ago mainly due to the high cost of living, congestion, and difficulty of trying to run a business (fees, regulations, bureaucracy, constant headaches). I followed Pat's good advice and got out. These are not issues that couldn't be solved with better governance but it's a one-party state and I don't see that changing. If anything, CA is even more regulated and costly now then it was then.
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders.
Its a good thing CA doesn't use mail in ballots where a random person can sign on it saying as a "witness" that you voted, and also makes sure everybody is a registered US Citizen voter with ID.
Farmers sent me a non-renewal letter for homeowners insurance so I got a plan with triple AAA. More expensive of course and it doesn't cover earthquake insurance which scares me in California. State Farm increased our car insurance so I cancelled it and got a bundle savings with triple AAA. Get a bundle savings with your carrier, its the only way now!
You need to compare the number of insured structures lost year over year not the acerage. Some of the largest fires in CA history burned few structures down while some of the largest loss of structures were small fires in terms of acerage burnt. The Tunnel fore in the Oakland hills, 1991 burned only 1600 acres but lost 2900 structures and is the 3rd most destructive fire in CA history. The rest of what you are saying is spot on
I love this guy! So much added value for me. I lived in CA my whole life and have my family here and will be buying a property soon since my family is here but I’m really considering moving out away from this shit hole since it’s too much to take on. Why stay in a state that is full of the worst type of people and government corruption is rampant. No one in the government even cares about these issues. Instead they decide to give money to all of the illegals and give them all kinds of advantages. What a backwards ass system. And the lefties are loving it. It blows my mind. I want answers to why they are doing this. It just doesn’t make any sense even if you are a stupid mechanic like me.
I feel bad that my employees struggle to pay for health insurance in this state, despite obeying the law and paying their taxes, but illegals come here and immediately get free Healthcare and everything served to them on a silver platter. I pay my staff a little extra cash on the side instead of giving a raise. It helps them with insurance, but my income has gone down a lot while my expenses have gone up. Its not sustainable long term. This state sucks but my family is all here.
Used to live in a mountain community here in so cal, purchased my home in 17 and home owner insurance with property taxes when up 25% in 3 yrs. Couldn’t afford the cost living on a set budget, had to down size and moved cause of rising cost. People on a set budget can’t live in the valley when average home prices are still on the rise with prices toward Los Angeles are averaging a half a million now days
We had a really good Insurance Commissioner in Steve Poisner. He served from 2007 - 2011. Look him up. He is an amazing human being who has accomplished a lot in his life. Everything to do with insurance in California has declined since Poizner’s absence.
Go to any rural mountain town in CA and you will instantly notice the sheer amount of for sale signs. Dozens and dozens of them. Older folks who have paid for their home for decades are losing their homes on account of insurance. They need to allow people who hold mortgages to opt out of having to buy insurance. Especially if you already pay private mortgage insurance which covers the lender already. Everything is about protecting the bank and not the “homeowner” this needs to stop.
Wildfires are insane. The state owned land is extremely poorly managed causing multipke wildfires in my area per week in the summer/fall. Ca fair plain is $5000/yr IN ADDITION to homeowners. I live very close to Yosemite, hardly ever fires on federally owned land cause their forest management is pretty good. Ca, again, forcing the middle class to subsidize the states poor management, on top of allowing pge to raise rates instead of holding them accountable for their lack of maintenance and modernization causing some of these fires. "Rake the forest" which has been highly scrutinized statement by trump. Issue is people who say it was a stupid statment have zero clue how a forest is managed. They literally use huge "rakes" on bulldozers to cut through the roots, creating fire lines making it harder for fires to spread. The issue is, a lot of people CANT move, we're hostages in this state!
I sold a house earlier this year that I thought would definitely drop out of escrow, but the buyer elected to continue despite his new homeowner's policy being $1000.00 per month-10x what my grandfathered policy was. I was beyond lucky to sell that house.
Don’t forget auto insurance companies that have left as well. I used to have Esurance until just recently. They canceled my policy and that is a lot of other people and dumped me on some other company. My rates went up $60 a month.
California is also promoting ADU's that are only a matter of inches away from their next door neighbor. No one has considered how these ADUs setting inches away from their neighbor will help to spread fires by jumping from one rooftop to another rooftop. You must consider that they are putting two homes on a small lot. In my opinion it is a recipe for a disaster. On my block there are four ADU's and the lot sizes are from 6,500 to 5,400 square feet. There is little if any green space.
Got one built next to my house. The dude in the back has a Tesla parked in the garage. I have nightmares thinking of that going up in flames less than 12 ft from my roof.
I have been in the business of wildfire suppression and behavior analysis for twenty years. I recently have tried to reach out to insurance company’s to give them a more educated approach on risk assessments based off historical data , modeling programs and current conditions. None of them seemed interested due to the reason’s stated in your video. It’s a shame I know there are a lot of homes marked uninsurable that really should be in the state of California.
You are looking at the wrong statistics in my opinion. Acres don’t make insurance go up, destroyed homes do. Last year over 3,000 single family homes were destroyed plus another 1200 structures. The year before was 770.
Buy land and start small carry what insurance you want, if any at all. Stop buying homes and being stuck with issues like these. The home is a product of the bank. Land is a product of your hard work and dedication
Greetings from Trinidad and Tobago in the Caribbean. ... The policies being initiated are so Blackrock and others can come in and capitalize on the "prime real-estate" and push things in a particular direction, for their benefit. 'Nuff said.
Insurance fraud is hurting everyone, and HAS BEEN for decades. I had damage to a floor at one point. We had Wal to wall carpet in the house. But when they ripped up he old carpet, they found maple hardwood floor under it. They had to completely redo the maple hardwood floor, then install wall to wall carpet OVERTOP OF IT, effectively destroying the hardwood they just installed. It was THOUSANDS of dollars extra work... because the insurance company was paying.
I live in a state with multiple wildfires annually but the two states next to me have worse wildfires than us and the air is so bad it hurts to breathe. You can't go outside or open your window and if you have asthma or any type of breathing problems, they are severely aggravated by the smoke. For about three months each year, the air is horrific and there is nothing you can do because the smoke from the other states becomes stagnant in my state.
Also besides home owners insurance. If you have a boat it's even harder now to get insurance. If you read this look into Triple A. I had a 1970 Sailboat and no big nation insurance brand would take me on. Also with no full boat insurance, the Marinas won't even let you in the dock.
State farm sent me a letter, indicating that my home insurance would be canceled due to overhanging limbs unles I cut them. When I called to indicate that I had hired and harborist to help handle the trees, my agent told me he would need to visit the property and do a room by room walk through. I do not have anything to hide and if I were the insurance provider, I'd want to see the inside. But the request seems intrusive. Most people I know with no claims have never had a visit by a home insurance agent.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
They should make the banks pay for the insurance on the loans that they making money on . After all DONT they own the house if we can’t make the payments . They keep the house and all the money they made from Amortize interest .
The biggest issue I see is building of MORE AND MORE homes in fire and flood danger areas. Then the related risk will be spread to the average home owner.
All the policies he mentioned have been on the books for decades and the ones that have been proposed are just that, proposals. Also why would rates be going up if the amount of acres burned is the least amount in 25 years?
State Farm total revenue last year was $104.2 billion. State Farm said in a release that its unfavorable operating results came from "continued elevated claims severity and significant catastrophe activity 1.4-6$B profit No more bureaucracy🇺🇸🤠🇺🇸
Insurance companies don’t do business anywhere not because they are losing money! It is because they don’t make the supper multi million dollar profit to please their share holders. They are for the BIG profit, not the mediocre profit.
Fire department charges fees, does multiple inspections per year and fines residents instead of shutting down the main problem... the homeless living in encampments throughout the forest!
I don’t recall CA having all these wildfire issues back in the days when logging was allowed to help clear the forests. If you let your big yard grass grow and turn brown and brittle and a spark or lightning strike or power pole goes down l, yes the whole place is going to go up like a tinder box which is happening in CA. CA needs to bring back logging and calm down the environmental wackos.
This sounds like corporate justification. My HO policy has nearly tripled in price in 2 years. My house is NOT in a high risk area. It was built in the 30's. They told me that if I do their risk inspection and pass, I would save $35/year! They are making money. Corporations are like greedy children throwing tantrums to get ice cream.
My insurance was going to cancel me due to moss on my roof, among a couple other fixes. I had repairs done and moss cleaned/treated with proof. They pulled my coverage due to leaving CA. Why did they need to threaten pulling my coverage for repairs if they were pulling it regardless????
Its there way of doing it so they dont look so bad , by law we have zero protection they can do as they please but we are trapped in this game where the insurance is sky high and we have to pay.
I’m a Californian , I’d like to see the numbers on the houses lost during the fires in those years, he doesn’t go into it but the fires have gone done yes. But the areas where the fires were burning were residential areas. So houses and property damage was very impacted. But I do agree with the rates and insurances here. Feels like a Ponzi scheme
My mom was forced to sell her property in Paradise, CA after the 2018 because the insurance was dropping her. She didn't have a choice but sell. Realtors are screwing property owners. After the realtor took her "set fee", she ended up with $5K for a $15K piece of property. Glad she doesn't live in Commifornia.
PBD is from Glendale California. He did an entire video about insurance without mentioning insurance fraud 😂. Glendale has the highest insurance fraud rates in the country
He is not from Glendale. Listen to the way he talks. nobody pronounces their words like that from California. why do you think he talks so much shit about California?
@@gabreel8112 he went to Glendale High school. Google it. His 10th grade teacher is Ms Sinclair. I live in Glendale I know these things. I also pay the highest car insurance in the state maybe the country because of the fraud.
Farmers insurance canceled our policy saying that our roof needed to be replaced or repaired.. I repaired it and they still canceled our policy. OUR NEW INSURANCE COMPANY IS CALLED CALIFORNIA FAIR PROJECT PLAN OR SOME SHIT
You are getting screwed on the "unfair plan" too huh? Gotta love how these dickheads make laws that we have to have insurance, yet ALL the insurance companies have pulled out of this commie shithole, so guess what? Now we all HAVE to go crawling to the state to provide it for us.......fucking scam to usher in more government control over YOUR HOUSE!!!
They might be citing wildfires. But the hidden story is probably the insane housing prices. All insurance companies is an arbitrage. If houses cost far greater than what home owners are willing to pay, plus the risk of wildfires, insuring that would be suicide for any insurance company.
U.S. economic growth would likely get the biggest boost in the coming two years from the Democrats, headed by Kamala Harris, winning the White House and Congress in this November's elections, according to Goldman Sachs. Under a Republican sweep, or even with a divided government led by Donald Trump, economic output would take a hit next year, mostly from increased tariffs on imports and tighter immigration policies, Goldman said in a note late on Tuesday.
Fire Power Money by ABC 10 is an amazing series that breaks down why and how California's insurance pool was depleted. Newsom drove the state off a cliff and you can find the receipts there.
So here's what homeowners can do. If escrow requires insurance, and the insurance company has to have a policy in place, for the home sale to be completed; all the insurance companies have to do is, place the minimum required policy coverage (you know like car insurance does, so car owners can drive their vehicles legally). After whatever the minimum coverage period ends, the homeowner can choose not to have homeowner insurance, and pay into a savings account exclusively for home repair and or replacement. Why pay an insurance company?.. Pay yourself (in other words the homeowners are,, responsible for protecting their own homes.. a novel idea). Many Florida residents are doing this, since many insurance companies are opting out of the state, because hurricanes and tropical storms are becoming more severe. Insurance companies also spend, a great deal of time, trying to weasel out of paying claims. If homeowners pay themselves, into a personal home savings account, it's doubtful, the homeowners will try weasel out of repairing or replacing their own home. Ask the California homeowners, with homes formerly near a cliff, that are now at the bottom of a cliff, how their insurance company treated them. If someones home got burned down in a California wild fire, good luck with the insurance claim. State Farm is not like a good neighbor, and they are not there. Homes are very expensive to repair or replace. When insurance companies have to cover nationwide disaster claims, with thousands of homes and businesses, instead of a few hundred, well, you understand real quickly how badly insurance companies are operated. They have no real contingency plan for multitudinous disasters. The insurance company fallback position is, find any loophole in a policy and deny the claims, until a court orders them to pay out. Then insurance companies cry foul, and beg the federal government to bail them out, because they lost too much money fighting loser law suits, and paying claims... that's it.. that's the insurance company game plan. California, and every state, would be better off setting up state run insurance, and throw the insurance companies out of the state. The states end up footing the bill, for home and business repairs and replacements, after disasters most of the time anyway (since the insurance companies love rejecting claims). Of course that doesn't sit well, with capitalism. Well, insurance companies aren't capitalist, they're profiteers. Put the insurance industry out of business. That's how capitalism is supposed to work: a company offers a product or service, if the product or service is junk, the business can't turn a profit selling junk no one wants, so the business goes out of business. In the United States, we've allowed companies selling junk products and services, to become industries TOO BIG TO FAIL!!! I digress.
Unless their loss ratio was over 100% these companies still made over a billion dollars on average. We need their operating expenses to see if they made a profit. However with their operating expenses, I guess 1-2 billion isn't enough to make it worth their time. FL is no better
Which tropical hurricane produced cheap insurance in Florida? Florida insurance issues is like claiming water is wet and the sky is blue. California insurance and mismanagement of wildfires is a new phenomenon.
I don’t know how bad your insurance is in Florida. But I live in the central Valley of California and foothills below Yosemite national Park! My fire insurance just jumped from $500 a year for the past seven years to $7896 a year that I have to purchase through the state because no insurance company is allowed to provide fire insurance for me because the state won’t allow them to up their rates
@@dootdoot1867 hurricanes aren't the reason companies are refusing to insure homes in Florida. It's mismanagement by desantis and the people that came before him. Florida has been dealing with bad weather for a long time but only recently did companies refuse to insure homes there. PBD won't admit that though cause he has turned into a right wing shill.
Because prop casualty didn't price their business properly they lost money. Can't blame anyone but themselves PBD. Rents historical lyrics are the biggest killers of small business.
PBD for California Governor🇺🇸 How about it? You have common sense, can explain a concept, confident, forceful personality, ethical and the people need help!! Anybody else agree???
![PASULOL รามเกียรติ์ ตอนที่ 4 นนทกพบรัก [Ramakien Ep.4: Nonthok in love]](http://i.ytimg.com/vi/tMUQgmZzf_A/mqdefault.jpg)
I live in Southern California. I started having issues with my insurance provider last year and they ended up not renewing my policy. It was stressful trying to find a new provider. Luckily, AAA insures just about every one. Most companies won't issue new policies if your roof is over 20 years old and/or your furnace is over 25 years old. And if you're in a fire zone, forget about it. It will get to the point where you try to sell your house but the potential new buyer can't get insurance. Eventually, your house will become unsellable as a result. Unfortunately, I have elderly parents nearby, so I can't move out of state yet.
Moved outa California because of Covid back in 2020. Maybe a blessing in disguise 🙌🏼
Where did you move? We want to move as well
@@neita987stay where you are at. Stop crowding and messing up other states.
@@neita987 recommend small towns in small states, or low population areas👌🏼
Did you take a pay cut? How much? Are you thinking of moving back?
Make sure you don’t vote blue so the place you live now doesn’t turn to cali ;)
Farmers canceled my dad’s insurance on his cabin in the Sierras cause this 8x6 deck he had outside the master bedroom didn’t have a guard rail. It was 16 inches off the ground lol
My cousin had to remove a metal shed from his backyard because as his insurance agent told him, "If a burglar enters your property he could scratch himself in that old shed and he could get tetanus." I kid you not. Lol
Same got lucky wind came and took it down@@janettebuckley4170
Farmers cancelled my homeowners policy that I had for 22 years with 0 claims. They claimed I am in a "wildfire area". I live in the middle of a CITY! There is no wild grass for over 1 mile from me. They said I needed more defensable space. I am surrounded by asphalt streets and other homes. What space????? I kid you not. bunch of Aholes. I will NEVER use them again for anything.
Yes, they are looking for any reason to cancel right now. My folks have a home in urban Sacramento and Geico canceled their insurance after it somehow saw that they were doing roofing repairs. My dad did the work himself with some friends and people from the Home Depot parking lot, but yet Geico wanted paperwork and invoices and everything else which we told him we did not have. They ended up canceling because we couldn’t provide them invoices that we didn’t have for work done even though we sent photos and all inspection records and the final completion paperwork from the city.
@@Anon1mous yeah sounds like the lizard
I'm so happy I made productive decisions about my finances that changed forever. I'm a single mother living in Vancouver Canada, bought my first house in October and hoping to retire soon if things keep going smoothly for me.
Cryptocurrency/stock investment, but you will need a professional guide on that.
Facebook 👇
Evelyn C. Sanders
Thank you so much for sharing 🙏
Am glad seeing this here today, your recommendation earlier this year was a blessing to my life and that of my family, am so grateful.
An effective way to drive property into the hands of Blackrock who provide mortgage and insurance combined...because they're so nice.
Honestly home owners insurance is a scam. Premiums go up whether you make a claim or not. If the government wants to help people out, remove the requirement for home insurance if you get a mortgage(based on credit score). Let the individual decide whether or not they want insurance. The only entity that is at risk for uninsured homes are the banks which get bailed out by the tax payers anyways.
100% scam
No one is making you have home insurance and that’s up to you to risk such a huge investment
@@TheCarlinCoop you're either living in moms basement or a lifelong renter because you obviously have no clue what you're talking about.
Of you have a mortgage, by law, you must have homeowners insurance.
I live in California. Since 2012 every year my insurance would go up 30%. State Farm finally canceled my policy. I have never made a claim. Ridiculously unbelievable!
The weather is amazing. Not leaving.
Insurance is a competitive marketplace, if price controls are such that no one can make money, then there will be no supply. Same as putting price controls on food. Supply will dry up.
Thats the point.
People think insurance is a scam, and California should make law to allow people to buy a home without insurance. Or California to run a government insurance company to feel the pain of the private insurance companies
@@eile4219 You can buy a house without insurance, you just have to pay for it all without a mortgage.
Home and Car insurance is up 50-60% in Texas. Flooding has become so normal after a storm it’s absolutely ridiculous. Infrastructure in Texas is awful. In 2024 alone we have had over 15 days of no power for multiple days straight all due to Texas being in its own electrical grid.
Fake news.
Texas is a Red state. They have zero problems
I live in Texas my car insurance has gone up 10% and homeowners about 25% and have lost power 2-3 times this year during a storm but each time the power was back on in 30 min or less. Guess it depends on where in the state you live. Have another home in Arkansas and a couple vehicles registered there and home/car insurance went up about the same. I only have collision & theft coverage on 1 out of 5 vehicles though as the other cars are 10-25 years old and not worth the cost of full coverage even though they all have less than 60k miles on them. Insurance just won’t pay out hardly anything for them if totaled or stolen.
@@palmtreevibe PDB sensor me😪
I work for an insurance company and we have pulled nearly ALL our business from CA, it is not even possible to stay afloat in that market
That's great now stay out and don't come back.
@@HfL1stLunatikthat’s a dumb comment, lol. I guess you DONT want insurance?
@HfL1stLunatik you really don't understand
LMAOOOOOOOOO
What’s wrong with that guy
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you . prevent inflation
Thanks for continuing updates I'd rather trade the crypto market as it's more profitable. Make a good amount of money per week'even though I barely trade myself
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some professional advice.
No I don't trade on my own anymore always required help and assistance
From my personal financial advisor
This sounds so good and I would like to be a party to this, I there any way I can speak with her?
One little piece missing.. We don't have more fires but we have about 3 million more people living in areas that are prone to fire than 20 years ago. Very large part of the problem is the regulations have not allowed the industry to factor this in. We all must be equal and "fair".
One correction, California does have more fires due to the homeless!
As an insurance agent in CALI, it’s hectic. I am writing record number of APPLICATIONS, while being off for two months. 2023 was my best year yet.
I love you brother! You’re inspiring ❤I live in this failed state and I’m almost 60 and I’m in a crossroads thinking what to do
Im an insurance agent in California and everything that was said is true. My agency is loosing clients left and right due to high costs and non- renewals and in top of that the company decided to lower our commission. For a lot of agents is getting to the point of thinking if closing the agency and do something else would be a better decision.
Im an agent in CA as well. We joke that we make $2 for every CA Fair Plan we write 😂. I’m in a high brush wildfire area and the non renewals are crazy!!! For now, I’m just writing commercial business but even that is getting really tough. I think CA Fair Plan will go insolvent. We just have to pivot and stay resilient!! Hang in there!!
Sell your captive and go independent
In California insurance companies are sending notices to homeowners and asking them to take pictures of their home. After they do this to take the matter if they have cleared garage or treat away from the home, they get notice that they will need to buy supplemental fire insurance for an extra 2000 a year
Easily Pat’s best content style is expressed is in this format!🎉 Thank you!
Texas is very expensive now for insurance too 🙏🏼
WE LOVE YOU PBD ❤
This is by design, they want to move to state owned insurance. The best racket to raise more funds, again when I sent you a message almost 2 years ago.
Who is they? So conspiratorial.
Scary but true for someone who can’t leave California because of having and running a business here in Los Angeles! Very informative Pat. Thanks
I left CA about 20 years ago mainly due to the high cost of living, congestion, and difficulty of trying to run a business (fees, regulations, bureaucracy, constant headaches). I followed Pat's good advice and got out. These are not issues that couldn't be solved with better governance but it's a one-party state and I don't see that changing. If anything, CA is even more regulated and costly now then it was then.
Moved out of Cali in 2021. Best decision ever.
@@letsgotospace2145 🤣🤣🤣
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders.
I think l'm blessed if not I have met someone who is as spectacular as expert mrs Janet..
Highly recommended🙌
Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Janet
trade benefits
Though I started with as low as $17,000
actually because it was my first time and it was successful, she's a great personality in the state
Its a good thing CA doesn't use mail in ballots where a random person can sign on it saying as a "witness" that you voted, and also makes sure everybody is a registered US Citizen voter with ID.
lol 😂😂😂
Yup. Red carpet for invaders and their enablers in office.
🥱🥱🥱🥱
As someone in the insurance industry I can tell you it’s not just CA & FL, changes are coming everywhere.
Farmers sent me a non-renewal letter for homeowners insurance so I got a plan with triple AAA. More expensive of course and it doesn't cover earthquake insurance which scares me in California. State Farm increased our car insurance so I cancelled it and got a bundle savings with triple AAA. Get a bundle savings with your carrier, its the only way now!
You need to compare the number of insured structures lost year over year not the acerage. Some of the largest fires in CA history burned few structures down while some of the largest loss of structures were small fires in terms of acerage burnt. The Tunnel fore in the Oakland hills, 1991 burned only 1600 acres but lost 2900 structures and is the 3rd most destructive fire in CA history. The rest of what you are saying is spot on
They canceled me and I was forced to go to CA Fair plan plus additional policy 3x times what I used to pay
One of the few people left not afraid to inform and educate the public of real facts
Similar situation in Florida. Last we checked, there’s only one carrier in my zip code for older houses. Even with my new HIP roof!
I love this guy! So much added value for me. I lived in CA my whole life and have my family here and will be buying a property soon since my family is here but I’m really considering moving out away from this shit hole since it’s too much to take on. Why stay in a state that is full of the worst type of people and government corruption is rampant. No one in the government even cares about these issues. Instead they decide to give money to all of the illegals and give them all kinds of advantages. What a backwards ass system. And the lefties are loving it. It blows my mind. I want answers to why they are doing this. It just doesn’t make any sense even if you are a stupid mechanic like me.
I feel bad that my employees struggle to pay for health insurance in this state, despite obeying the law and paying their taxes, but illegals come here and immediately get free Healthcare and everything served to them on a silver platter. I pay my staff a little extra cash on the side instead of giving a raise. It helps them with insurance, but my income has gone down a lot while my expenses have gone up. Its not sustainable long term. This state sucks but my family is all here.
Good video. Now can you make one for Florida. How insurance company is screwing it up.
I think, he did a while ago but DeSantis has passed bills to curve the lawsuits.
I do agree he needs to make an updated one.
Used to live in a mountain community here in so cal, purchased my home in 17 and home owner insurance with property taxes when up 25% in 3 yrs. Couldn’t afford the cost living on a set budget, had to down size and moved cause of rising cost. People on a set budget can’t live in the valley when average home prices are still on the rise with prices toward Los Angeles are averaging a half a million now days
You should run for California governor!!
We had a really good Insurance Commissioner in Steve Poisner. He served from 2007 - 2011. Look him up. He is an amazing human being who has accomplished a lot in his life. Everything to do with insurance in California has declined since Poizner’s absence.
Go to any rural mountain town in CA and you will instantly notice the sheer amount of for sale signs. Dozens and dozens of them. Older folks who have paid for their home for decades are losing their homes on account of insurance. They need to allow people who hold mortgages to opt out of having to buy insurance. Especially if you already pay private mortgage insurance which covers the lender already. Everything is about protecting the bank and not the “homeowner” this needs to stop.
Wildfires are insane. The state owned land is extremely poorly managed causing multipke wildfires in my area per week in the summer/fall. Ca fair plain is $5000/yr IN ADDITION to homeowners. I live very close to Yosemite, hardly ever fires on federally owned land cause their forest management is pretty good.
Ca, again, forcing the middle class to subsidize the states poor management, on top of allowing pge to raise rates instead of holding them accountable for their lack of maintenance and modernization causing some of these fires.
"Rake the forest" which has been highly scrutinized statement by trump. Issue is people who say it was a stupid statment have zero clue how a forest is managed. They literally use huge "rakes" on bulldozers to cut through the roots, creating fire lines making it harder for fires to spread.
The issue is, a lot of people CANT move, we're hostages in this state!
I sold a house earlier this year that I thought would definitely drop out of escrow, but the buyer elected to continue despite his new homeowner's policy being $1000.00 per month-10x what my grandfathered policy was. I was beyond lucky to sell that house.
Don’t forget auto insurance companies that have left as well. I used to have Esurance until just recently. They canceled my policy and that is a lot of other people and dumped me on some other company. My rates went up $60 a month.
"You'll own nothing and you'll be happy."
Just like the state of Florida! Most homeowners have dropped their coverage. It's called "going bare".
This is the plan. Next they will pull a Oprah and burn it all down. Then swoop in and buy it all up for pennies on the dollar. Broken system
California is also promoting ADU's that are only a matter of inches away from their next door neighbor. No one has considered how these ADUs setting inches away from their neighbor will help to spread fires by jumping from one rooftop to another rooftop. You must consider that they are putting two homes on a small lot. In my opinion it is a recipe for a disaster. On my block there are four ADU's and the lot sizes are from 6,500 to 5,400 square feet. There is little if any green space.
Got one built next to my house. The dude in the back has a Tesla parked in the garage. I have nightmares thinking of that going up in flames less than 12 ft from my roof.
I have been in the business of wildfire suppression and behavior analysis for twenty years. I recently have tried to reach out to insurance company’s to give them a more educated approach on risk assessments based off historical data , modeling programs and current conditions. None of them seemed interested due to the reason’s stated in your video. It’s a shame I know there are a lot of homes marked uninsurable that really should be in the state of California.
They always know what is best for you and love to make it a law.
You are looking at the wrong statistics in my opinion. Acres don’t make insurance go up, destroyed homes do. Last year over 3,000 single family homes were destroyed plus another 1200 structures. The year before was 770.
Buy land and start small carry what insurance you want, if any at all. Stop buying homes and being stuck with issues like these. The home is a product of the bank. Land is a product of your hard work and dedication
This guy will never make a segment like this on Florida's and Texas HOA and insurance companies because he's bought and paid for from the right
@@ViewerC7100 100%
nope
Greetings from Trinidad and Tobago in the Caribbean. ...
The policies being initiated are so Blackrock and others can come in and capitalize on the "prime real-estate" and push things in a particular direction, for their benefit.
'Nuff said.
Many of my neighbors here in California have received notice of non-renewal from their insurance company.
Insurance fraud is hurting everyone, and HAS BEEN for decades.
I had damage to a floor at one point. We had Wal to wall carpet in the house.
But when they ripped up he old carpet, they found maple hardwood floor under it.
They had to completely redo the maple hardwood floor, then install wall to wall carpet OVERTOP OF IT, effectively destroying the hardwood they just installed.
It was THOUSANDS of dollars extra work... because the insurance company was paying.
I live in a state with multiple wildfires annually but the two states next to me have worse wildfires than us and the air is so bad it hurts to breathe. You can't go outside or open your window and if you have asthma or any type of breathing problems, they are severely aggravated by the smoke. For about three months each year, the air is horrific and there is nothing you can do because the smoke from the other states becomes stagnant in my state.
What state do you live in with the wild fire smoke?
Also besides home owners insurance. If you have a boat it's even harder now to get insurance. If you read this look into Triple A. I had a 1970 Sailboat and no big nation insurance brand would take me on. Also with no full boat insurance, the Marinas won't even let you in the dock.
Rich people problems….
State farm sent me a letter, indicating that my home insurance would be canceled due to overhanging limbs unles I cut them. When I called to indicate that I had hired and harborist to help handle the trees, my agent told me he would need to visit the property and do a room by room walk through. I do not have anything to hide and if I were the insurance provider, I'd want to see the inside. But the request seems intrusive. Most people I know with no claims have never had a visit by a home insurance agent.
Now that is both strange and creepy. I wouldn't allow it.
Whats the solution here?
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
They should make the banks pay for the insurance on the loans that they making money on . After all DONT they own the house if we can’t make the payments .
They keep the house and all the money they made from Amortize interest .
Home loans are a predatory lending 😂insurance that is 30% of the loan
@@Chano601and interest that is 150-200% the value of the home when it's all said and done!!!
My property insurance went from 2500 to 8600. State farm did not renew our policy
Omg
What about Florida Pat
And Texas with the Central Appraisal District Fraud
🤫🤫🤫🤫🤫🤫😉😉😉
Homeowners insurance is insane in Texas as well not only in California, but I don’t know what the heck is going on in Texas no idea
The biggest issue I see is building of MORE AND MORE homes in fire and flood danger areas. Then the related risk will be spread to the average home owner.
I have never heard of Chubb, I'm 40 in California
All the policies he mentioned have been on the books for decades and the ones that have been proposed are just that, proposals. Also why would rates be going up if the amount of acres burned is the least amount in 25 years?
That fair plan is bs . That was the most expensive price I got when I was looking for new insurance
State Farm total revenue last year was $104.2 billion. State Farm said in a release that its unfavorable operating results came from "continued elevated claims severity and significant catastrophe activity 1.4-6$B profit
No more bureaucracy🇺🇸🤠🇺🇸
104.2 billion😂😂😂😂 Revenue
Their net was $1.5b-$6 Billion 😂😂😂
Something nobody talks about is :where is your money going? Insurance is organized crime.
Insurance companies don’t do business anywhere not because they are losing money! It is because they don’t make the supper multi million dollar profit to please their share holders. They are for the BIG profit, not the mediocre profit.
Same as car manufacturers only making expensive options now.
Fire department charges fees, does multiple inspections per year and fines residents instead of shutting down the main problem... the homeless living in encampments throughout the forest!
They understand. It’s by design.
Talking about CA, FL has the highest home ins rates in the U.S, no?
David, and about Florida man?
😂😂.
NOTHING TO SEE HERE!😂😂😉😉😉
I don’t recall CA having all these wildfire issues back in the days when logging was allowed to help clear the forests. If you let your big yard grass grow and turn brown and brittle and a spark or lightning strike or power pole goes down l, yes the whole place is going to go up like a tinder box which is happening in CA. CA needs to bring back logging and calm down the environmental wackos.
This sounds like corporate justification. My HO policy has nearly tripled in price in 2 years. My house is NOT in a high risk area. It was built in the 30's. They told me that if I do their risk inspection and pass, I would save $35/year! They are making money. Corporations are like greedy children throwing tantrums to get ice cream.
Keep voting Democrat and blaming all your problems on corporations. Maybe the government will insure you
Future Looks Bright
My insurance was going to cancel me due to moss on my roof, among a couple other fixes. I had repairs done and moss cleaned/treated with proof. They pulled my coverage due to leaving CA. Why did they need to threaten pulling my coverage for repairs if they were pulling it regardless????
Its there way of doing it so they dont look so bad , by law we have zero protection they can do as they please but we are trapped in this game where the insurance is sky high and we have to pay.
I’m a Californian , I’d like to see the numbers on the houses lost during the fires in those years, he doesn’t go into it but the fires have gone done yes. But the areas where the fires were burning were residential areas. So houses and property damage was very impacted. But I do agree with the rates and insurances here. Feels like a Ponzi scheme
Impossible to obtain business liability and workman's comp insurance for new businesses in multiple states, not just California.
Nah californias trash now
Those illegals ruined it
My mom was forced to sell her property in Paradise, CA after the 2018 because the insurance was dropping her. She didn't have a choice but sell. Realtors are screwing property owners. After the realtor took her "set fee", she ended up with $5K for a $15K piece of property. Glad she doesn't live in Commifornia.
First ✅ Keep it up PBD !!!
I'm in Cali and Farmers dropped me last year.
PBD is from Glendale California. He did an entire video about insurance without mentioning insurance fraud 😂. Glendale has the highest insurance fraud rates in the country
He is not from Glendale. Listen to the way he talks. nobody pronounces their words like that from California. why do you think he talks so much shit about California?
@@gabreel8112 he went to Glendale High school. Google it. His 10th grade teacher is Ms Sinclair. I live in Glendale I know these things. I also pay the highest car insurance in the state maybe the country because of the fraud.
@@gabreel8112 I mean...I think he graduated from Glendale High and lived out here for like 20 years. But he's from Iran originally, by way of Germany.
He's Armenian, so ya, he's from Glendale.
@@ayowser01lol if you know you know.
Farmers insurance canceled our policy saying that our roof needed to be replaced or repaired.. I repaired it and they still canceled our policy. OUR NEW INSURANCE COMPANY IS CALLED CALIFORNIA FAIR PROJECT PLAN OR SOME SHIT
Farmers pulled out of CA that’s probably why, tbh.
You are getting screwed on the "unfair plan" too huh? Gotta love how these dickheads make laws that we have to have insurance, yet ALL the insurance companies have pulled out of this commie shithole, so guess what? Now we all HAVE to go crawling to the state to provide it for us.......fucking scam to usher in more government control over YOUR HOUSE!!!
Me too, but was Pacific specialty
You're probably paying a lot higher than the open market.
No they didn't, I still have them. They're just not signing up new policies this go-round.
They might be citing wildfires. But the hidden story is probably the insane housing prices. All insurance companies is an arbitrage. If houses cost far greater than what home owners are willing to pay, plus the risk of wildfires, insuring that would be suicide for any insurance company.
were stuck pat. we just bought our house last year
Isn’t it house insurance? A home is an idea. A house is a physical structure.
so what is the OPPORTUNITY here???
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Fire Power Money by ABC 10 is an amazing series that breaks down why and how California's insurance pool was depleted. Newsom drove the state off a cliff and you can find the receipts there.
So here's what homeowners can do. If escrow requires insurance, and the insurance company has to have a policy in place, for the home sale to be completed; all the insurance companies have to do is, place the minimum required policy coverage (you know like car insurance does, so car owners can drive their vehicles legally).
After whatever the minimum coverage period ends, the homeowner can choose not to have homeowner insurance, and pay into a savings account exclusively for home repair and or replacement. Why pay an insurance company?.. Pay yourself (in other words the homeowners are,, responsible for protecting their own homes.. a novel idea).
Many Florida residents are doing this, since many insurance companies are opting out of the state, because hurricanes and tropical storms are becoming more severe.
Insurance companies also spend, a great deal of time, trying to weasel out of paying claims. If homeowners pay themselves, into a personal home savings account, it's doubtful, the homeowners will try weasel out of repairing or replacing their own home.
Ask the California homeowners, with homes formerly near a cliff, that are now at the bottom of a cliff, how their insurance company treated them.
If someones home got burned down in a California wild fire, good luck with the insurance claim. State Farm is not like a good neighbor, and they are not there.
Homes are very expensive to repair or replace. When insurance companies have to cover nationwide disaster claims, with thousands of homes and businesses, instead of a few hundred, well, you understand real quickly how badly insurance companies are operated. They have no real contingency plan for multitudinous disasters.
The insurance company fallback position is, find any loophole in a policy and deny the claims, until a court orders them to pay out.
Then insurance companies cry foul, and beg the federal government to bail them out, because they lost too much money fighting loser law suits, and paying claims... that's it.. that's the insurance company game plan.
California, and every state, would be better off setting up state run insurance, and throw the insurance companies out of the state.
The states end up footing the bill, for home and business repairs and replacements, after disasters most of the time anyway (since the insurance companies love rejecting claims).
Of course that doesn't sit well, with capitalism. Well, insurance companies aren't capitalist, they're profiteers. Put the insurance industry out of business. That's how capitalism is supposed to work: a company offers a product or service, if the product or service is junk, the business can't turn a profit selling junk no one wants, so the business goes out of business.
In the United States, we've allowed companies selling junk products and services, to become industries TOO BIG TO FAIL!!! I digress.
Bought my house 2020 . It was 800 a year . Now I’m at 1500 😓
Living in california is tough people dont wanna come together and make change
How come you’re not pointing fingers at the DEI/inept insurance commissioner of CA? Look him up. Ricardo Lara
legalrightsguru AI fixes this. California's home insurance crisis explained.
Why hasn’t lemonade insurance company popped on this list? I’m sure there’s multiple reasons. But…. They are gaining momentum.
I still don’t know why the people of California hasn’t removed Newsom from office. The people have the power to vote him out
Unless their loss ratio was over 100% these companies still made over a billion dollars on average. We need their operating expenses to see if they made a profit. However with their operating expenses, I guess 1-2 billion isn't enough to make it worth their time. FL is no better
Hey
Flordia has a home owners insurance crisis BUT these guys only talk about california haha
and Property Tax nation wide is getting a drastic bump.
He has turned into such a bullshit artist lately 😂
Which tropical hurricane produced cheap insurance in Florida? Florida insurance issues is like claiming water is wet and the sky is blue. California insurance and mismanagement of wildfires is a new phenomenon.
I don’t know how bad your insurance is in Florida. But I live in the central Valley of California and foothills below Yosemite national Park!
My fire insurance just jumped from $500 a year for the past seven years to $7896 a year that I have to purchase through the state because no insurance company is allowed to provide fire insurance for me because the state won’t allow them to up their rates
@@dootdoot1867 hurricanes aren't the reason companies are refusing to insure homes in Florida. It's mismanagement by desantis and the people that came before him. Florida has been dealing with bad weather for a long time but only recently did companies refuse to insure homes there. PBD won't admit that though cause he has turned into a right wing shill.
Because prop casualty didn't price their business properly they lost money. Can't blame anyone but themselves PBD. Rents historical lyrics are the biggest killers of small business.
PBD for California Governor🇺🇸 How about it? You have common sense, can explain a concept, confident, forceful personality, ethical and the people need help!! Anybody else agree???