I live in Louisiana. I wish I could I get all the money I wasted paying into insurance companies. All we are paying is for some high up CEO to afford his new Maybach or Mansion in the Hamptons.
@Plutogalaxy "they got what they paid for" what did they pay for? Insurance? Yes. Did they get insurance that they paid for? No. So tf did you even mean by that? Silly comment
@@jponz85it means that people have this misconception that insurance companies are compelled to issue policies to cover things. Insurance companies only have to cover the things that are in their contracts. I can write someone up an insurance contract where I restrict coverage of virtually everything but the most remote possibility ever occurring... As long as I meet the requisite amount of funding necessary to be regarded as solvent and I abide by the terms of that contract... I could not be compelled to cover something the contract does not expressly articulate being covered. The grievance against insurance companies is not credibly when they prohibit coverage of an event.. it's only when they indefensively deny coverage for an event their contracts specifically spells out that they would.
Gen Z must be taking note to all this and I would not be surprise if they put a stamp 'close and defunct' to the real state sector...buying a house? No, that was an old societal ideology.
Only 1 thing in all this is 100% guaranteed. The executives who made the call to cancel all those California policies are getting a promotion and a big fat b’onus this year.
When the city is cutting budgets as the population is growing and then they tell them they can't raise rates it's a recipe for disaster. We need to put the blame where it belongs.
Good business practice, especially since the politicians in california refuse to implement the forestry management practices and water infrastructures that will mitigate and reduce wildfires
Called smart business. I despise insurance companies but this was a no brainer. The risk assessment was way too high for any company to insure. We're down to like 3-4 options now . Off course they would push climate change bullshit . This falls on the state not mitigating these fires.
Or essentially, your paying someone to "set aside" money for you, incase of emergency. What's to stop us from just saving that money to the side ourselves incase of a emergency. The whole concept of insurance is just outright robbery.
Here’s a thought, if Insurance companies are going to cancel policies, why not get rid of the mandate or the requirement that you have to have home insurance?
Or get back all the money you paid out when no claims were made. If we missed payments they would cancel us, well you cancelled despite on time payments so why not give me my money back.
no, you look like an idiot. let's see you operate a successful home insurance company which covers all over california and doesn't go bankrupt immediately.
@@xalspaerocan’t afford it, don’t operate in the state. If people are paying big premiums for fire insurance, they deserve the protection they PAID FOR.
@@ImOnGearSoWhat yea, and it's an at-will agreement so an insurance company can cancel that agreement at any time. obviously not AFTER a home gets annihilated, but before is fine.
So a business is losing money by the boatload and your answer is they should’ve just toughed it out. If they weren’t leaving before, they will certainly be leaving now
@@aceyage Ugh. They’re not really asking for the purpose of gaining information. They’re making a point (or possibly a veiled threat/recommendation), likely with reference to the recent assassination of the health insurance CEO. Critical reading skills are your friend.
Louisiana resident here. I was dropped twice by insurance companies. Last year was the second time. I recieved a nice little letter in the mail basically informing me that I was too much of a risk being a Louisiana resident. Additionally, I live in a manufactured homes and other insurance companies won't insure a home with roof that's over 10 years old. They find every excuse not to give you any coverage. I currently only have flood insurance which I just paid too much for. I'm sick of the whole fraudulent circus.
I feel your pain. Our California neighbors are about to get a dose of reality really quickly. Lowered property values because no one can purchase without insurance, that no one can buy because it's unavailable or unaffordable. They're going to be stuck with " Million " dollar 2 bed/ 1 bath homes that are unsellable and unable to insure themselves.
You left out the epilogue..."given that not only did your policy not cover fire, expressly stated it would not cover fire.". Private insurance companies are just that... Private.
this is pretty different from united health though, insurance providers left california because they were legally unable to price their premiums to match risk and the govt refused to do anything to lower the risk. most of them would likely be bankrupt had they stayed (made pretty obvious when the states own insurance only has a few hundred million in reserves vs. their 7B exposure)
There is no point rebuilding and living in an area that insurance companies won’t cover. Some homeowners will just sell their land at below price and move elsewhere. Even those who can afford to rebuild will think twice because they’ll just be surroundings looking like a war zone neighborhood. And some will be paranoid that it will happen again soon. So why build again. Just sell the piece of property.
@@anthonyalexzander2104 That's incorrect. They cut a check...they pay your mortgage company first OR you one lump sum. If the mortgage is satisfied, then what you do with the remaining money is YOUR choice.
@@anthonyalexzander2104that is true. Our house in paradise burned down in 2018 and insurances told us if we do not rebuild something that they wouldn't pay us out. Ridiculous
That's sad. And I wish poorly educated Trumpers realized Insurance Corporations are doing this in not just Democrat Majority California. But Republican states like N.Caroiina n especially Florida.
They leave in advance not when it's known, they give you a good heads up on when they're not insuring in an area yall act like they dropped you the night before a storm
Insurance, the BIGGEST LEGAL SCAM EVER. I’ll charge you thousands upon thousands but when it comes the time to do my part, I’ll just bail out and I’m nothing to you.
I don’t get why people are so mad. State Farm cancelled the renewal BEFORE the fire even happened. They have no obligation to pay after the end of the of their contract nor do they have an obligation to stay in an extremely risky area when someone decides to stay. State Farm moved out more people should have taken that as a sign to move out to.
People can self insure their homes. What's crazier is that you build your home in a known wildfire.area.and expect someone to be forced to cover that decision
State Farm doesn't pay fire claims. Meanwhile they tell customers who live in low risk states and have paid 20 years : " We are raising rates becausr wildfires that we've paid out". My friend works SF and she told me this is what they do.
@GDUBLU_Fan It may be . But what is 2% of trillions ? Thats just life . Not counting auto and home. This year was lower profit. But in 40 year history. So they've been earning for a very long time.
@@evielknievel4972 That’s how a business should work, make enough profit so that it can be reinvested back into the business. I think 2% profit is reasonable in my opinion
If possible America as a whole should start building concrete houses on steel foundations with ceramic tiled roofing. Non combustible and more resistant to earthquake and Hurricane damage.
Oh please… they don’t want to build houses with expensive materials lol… they want to build for cheap and sell for way more.- but definitely better off building your OWN house, that’s the only way, granted your money is right.
Wrong. Insurance companies charged based on risks, but California has capped that amount so now the insurance companies are pulling out since they do not want to be bankrupted by a single US state.
OK, then here is a thought...why not just stop people from living in a known fire prone area, and instead force them to live with everyone else in the city proper? Do you see anyone in South Central or Crenshaw or Long Beach crying their eyes out with the woe is me crap right now? Try not building houses in areas that burn really easy.
@@starventure that still doesn't get to the root of the issue star. Every single place on this Earth is prone to some type of natural disaster. Whether it be fires, earthquakes, hurricanes, tornadoes, blizzards, mud slides, etc. Just because you are prone to a natural disaster, doesn't give these insurance companies the right to up and leave you on a whim, when you are paying for their "service". If anything, these companies should be forced to accept this risk if they decide to enter these "risky" markets. That was their fault, and they should be forced to reap the consequences if their gamble doesn't pay off.
California is a bit unique in that its insurance commission has prevented insurance companies from raising rates to reflect actual risk - because of this, premiums have been kept artificially low for years. That's good in the short term for consumers, but not really in the long term. I'm not a friend of insurance companies, but something has to give here. Rates are going to have to go up to reflect actual risk. I moved from VA to CA years ago. I lived on the edge of a high risk fire area. My insurance premium was actually LESS in CA than back in VA (same square footage) - for a high risk location, that just doesn't make any sense.
Premiums are for the period when you were covered, not for some future period when you weren't. Insurance isn't black magic. It only works when risk is low enough that an asset is insurable in the first place. Every insurance company would go bankrupt if they were in the business of insuring houses that were almost certain to go up in flames because of government mismanagement and it's not on everyone else in the country to pay higher premiums just because California can't get their act together.
So State Farm warned of the problem and left the state in 2023 …. And they’re the problem? Insurance is an annual contract, you get coverage during, not before or after.
This is actually law maker fault. The problem is that wild fires are insane in California and the pricing for new homes is expensive. New laws prevent insurance companies to increase their premium so they are in a spot that they have to stop insuring or they are operating at a loss.
Do they really think the insurance company's have that kind of money to pay for all of the claims being filled? Forget about it, those claims will never be paid.
@MomCycleKing Exactly what I first thought. Their going to put a hold on new claims due to the excessiveness. It will be decades before those neighborhoods look like they did. Population will decline rapidly < decline in local economy. Supply & demand.
@@ctufan24They can't put a hold on new claims, except perhaps by filing for bankruptcy protection. They can put a hold on new policies... And are not bound to pay on Old policies that don't cover a prevailing incident. But - It seems the pervading circumstances not insufficient funds to cover current policies, but that many current policies do not offer coverage for this incident.
It’s worse because insurance companies invest heavily in bonds and there are huge unrealized losses in those bond portfolios. When they cash out those bonds to cover claims those losses will become realized. They are going to lose a fortune on both ends.
Didn't Biden already say the government is here for them? I assume the insurance companies will get a bail out His garbled brain spills confusing incomplete confusing unconnected thoughts. CA knows their only salvage is Trump. His name now is spoken by the CA politicans. They say they have to work with him - more like beg!😅
@HappyHappy-sq4ij Yuup, "it was that way when I got here" is how a lot of them reason, which is why I wonder why they get into politics of all things. 🤔 I guess this would be MASSIVELY expensive to fix, to the point perhaps where rebuilding once in a while is easier than trying to get taxpayers to pay, maybe. 🤷🏼♂️
Shocking (but not really) how little people actually understand how the world works. Here’s how it works - the insurance company will cover your property if they think the risk of a disaster is within appetite. If they think there is a high likelihood that there will be a disaster, and that they will lose money, they will not. This is basic business and common sense, and is analogous to how every person makes decisions - based on risk and reward. Or are the insurance companies supposed to renew policies in these areas knowing it would put them out of business if a disaster occurred? I guess common sense isn’t so common after all.
I agree but not when an insurance company abruptly cancel someone’s active policy during a real time wildfire event. This is what State Farm did regardless of whether the homes are already burned down or soon to be burned down or soon to catch fires
@@AM93000 It's more like there was always a risk for this thing to happen, gov didn't do anything about it, and insurance saw the signs, so they decided to gtfo because they don't have hundeds of billions of dollars laying around.
these looming issues you speak of stem from people thinking its is fine to build your house anywhere you please at any size in any situation..........not the case
No, they stem from government officials shirking their duties. Wildfires have always been a risk in California, just like hurricanes in Florida, flooding in Louisiana, tornadoes in Kansas, etc. It is the job of city and state officials to mitigate wildfire risk. To prevent fires from starting, to starve them of fuel and to be ready to fight them when they do start. This is not a case of irresponsible building practices (these neighborhoods have been there for decades) or doing everything right and still losing out to nature's wrath. It is the result of decades of neglect and incompetence by politicians who care more about optics and virtue-signalling than providing actual services to their community.
@@jakeviolet2195What policies or actions has the state taken that have been neglectful compared to decades ago? From my understanding, the state would try to prevent fires altogether and has recently implemented more sound fire management like controlled burns. Considering the amount of land engulfed by flames, the 100+ mph wind, and the drought, I doubt there's much the state could've done to completely prevent this. Not to say the state shouldn't attempt to reduce fire risks or retrofit buildings to be more resistant to fires, but it seems impossible to do that for how large Cali is.
@trainerkam3218 how about not building the water irrigation plants around the state that voters approved 10 plus years ago. Not having a plan to get the hydrants filled during a major fire. L.A emptying a 117 plus million gallon reservoir for "repais" during the peak of santa ana wind season. Not allowing neighborhoods to clear out brush and vegetation voluntarily on public property. The state spending 24 billion dollars on the homeless problem just last year alone. Not listening to why the insurance companies are leaving the state/canceling fire coverage in homeowners policies. They have been stating for years that there is extreme fire risk because of the state and local governments not doing any type of preventative maintenance to tackle future fires. Etc, etc, etc..... Worst run state by far in the country. That is the definition of incompetent government. And the sad thing is, people will continue to vote in bad leadership and nothing will change.
@@GDUBLU_Fan Which dam are you referring to? Also what fish? If the fish was endangered or served as an important indicator for something like, water quality, I can see why the state would take conservation actions, especially if this is before the fires started.
Dont believe the lies. The crises is the CEO'S will have to not get a bonus? People paid in for years for " protection" and insurers take the $ & do ???? There should never be an argument about coverage. Its paid into, now pay out.
Everyone is mad at insurance companies for recognizing an untenable risk instead of being mad at their government for failing to address that risk. What an odd thing.
Insurance companies are not obligated to write policies for things they don't want to cover. I truly feel for these victims of these fires... But if their insurance company did not include a provision for fire, they cannot legally now be demanded to be on the hook to cover it.
Thats so true. They took the risk, and lost. But the opposite is true, too. , I'd bet the Insurance company will not pay for the damage, they'll find a way not to pay.
Necessity is relative and subjective. If you ask people from poorer parts of the world, they'd say your lifestyle is also unnecessary and 20 sqft per person is enough living space and clean water is an unnecessary luxury.
I worked for State Farm corporate for almost 30 years. Every since the old CEO retired and the new CEO (who was an accountant) took over, it's all about the money. He doesn't give a rats arse about the employees or policyholders. Thousands of employees let go and now this. It will happen in Florida the next hurricane as well or Texas with the next hail storm.
@@iROChakri you also have to get stuff like Rental Insurance if you are a renter. The point is that we have to have insurance in some way, shape, or form. Plus, I can guarantee you that most of these people that own these homes have not paid off their mortgage yet.
Todays insurance: "Yes sir , we cover floods, however if you read the fine print you'd clearly see that we don't cover salt damage." But it's salt water. "Sir, I'm glad you now understand."
i live in the midwest. a dozen homes in my neighborhood had roofs replaced due to a hail storm, including both of my direct neighbors. they have other insurance providers. we have state farm and of course were denied. meanwhile state farm keeps paying to have these celebs in their cheesy commercials.
here in Oklahoma we have had a lot of people migrating from california. A 600,000 home in CA is worth 75,000 here. Its a red state though so maybe not ideal for CA migrants.
Insurance is not to protect you. It’s to make the insurance company rich. If you could see the corporate offices of these insurance companies and how they spend their money you will see how much money they have to waste
Life has consequences, and you vote for the California government to implement a price ceiling on home insurance. If the insurance firms can’t make money, then they will not offer your state their services. It’s the pe Life has consequences, and you voted for the California government to implement a price ceiling on home insurance. If the insurance firms can’t make money, then they will not offer your state their services. It’s the people’s fault; you wanted this.
My previous insurance stopped covering fire insurance. It took me a lot of looking to find someone to insure my house with fire coverage, and I am just in a suburb, not really next to brush or anything. AAA is the only place I was able to find... For-profit insurance is a total scam. You pay in all your life and get nothing when you actually need the help.
It isnt a "scam". You just never bothered to understand what insurance is, and seem to think that it was a magic money savings account that guarantees you 10X what you actually paid in.
@@xandercruz900 The concept of insurance isn't hard to understand... The insurance company uses statistics and risk assessment to set the price and coverage amounts... It is their entire job to ensure that they have enough money on hand to cover the claims... If you pay in all your life and the insurance company simply decides they are not going to pay out when you have an actual claim, that is what most normal people would call a scam.
@ " If you pay in all your life and the insurance company simply decides they are not going to pay out when you have an actual claim," Why do you people keep saying this like robots as if it means something? You premiums are the fee to have access to the service. IT IS NOT AN INDIVIDUAL SAVINGS ACCOUNT. They did not renew the contracts because they saw the area as being too high risk! How hard is that for you to get? You went paying premiums to your mom and dad. These people dont owe you insurance because you paid your bill like you were supposed to in the past. Once the term of the contract is up, BOTH sides can renew or not. What is the so-called "scam"? That your feelings were hurt because they didnt? "Paid all my life" is some sentimental nonsense you scammed yourself with.
@ I have lived in my current house for almost 15 years and my insurance all of the sudden decided last year to not renew my house's insurance because it was deemed "too high risk"... What is your suggestion in this case? Do you really think that I should have to move myself and my whole family to some other place in the country which isn't as "high risk"? Who is going to pay for that? If you have the means to pay for your whole family to leave and get new jobs, great, you are better off than the majority of the people in this country who do not have this ability... When I bought my house, insurance did not deem it "too high risk"... People can't be expected to just leave their lives behind on a whim because insurance can change their minds on a whim... If you have fire insurance at the time a fire takes place, and the insurance company does not pay you your claim, that is a breach of a legal contract between the policyholder and the insurance company. The word scam literally means "a dishonest scheme" which is exactly what these insurance companies sell.
@@chaws314 " What is your suggestion in this case? " Find another company. What are you, 12? "Do you really think that I should have to move myself and my whole family to some other place in the country which isn't as "high risk"?" You dont have to do anything. Hold your breath and stomp your feet for all I care, that isnt going to make insurance fall from the sky. "If you have fire insurance at the time a fire takes place, and the insurance company does not pay you your claim, that is a breach of a legal contract between the policyholder and the insurance company." OK? That have jack all to do with this, which is people like you whining that contracts weren't renewed BEFORE these fires took place because the insurance companies saw the risk from poor forest management, could not raise premiums, and therefore DID NOT RENEW THE CONTRACTS and left the area. THERE IS NO SCAM HERE. People like you just didnt take the situation seriously.
Of course. The insurance company is a business. The government can't go bankrupt. No one in the corrupt government that is California will lose their job due to incompetence. People working a job like insurance agent don't have that luxury. It's honestly weird that the insurance companies haven't already left California given that the state just thinks it can force them to lower prices while they actively make things more dangerous and risky.
We in the gulf coast are paying for homeowners, wind storm and some flood insurance,some choose not to pay and end up loosing everything. It's not up to fema to pay for a disaster it's up to the home owner to have coverage,but sadly some are depending on the gov to bail them out .
Simple. They have to make sure that their more reliable customers are protected, so they will explain the denials are good business decisions not just in the interest of the usual suspects, like shareholders, but the customers as well. State Farm explains to the rest of the country "We saved you from the reckless Californians", and they come out smelling like roses.
Trump loves Corporations. Especially Healthcare n Homeowners ones. He's Not going to allow any more "Luigis". Nor force Corporations to behave. Don't be so naive n gullible. Ain't Cold Blooded Unfettered American Capitolism n Greed Grand, lol???😅😅😅
Paging the fbi. FBI this guy advocates for a murderer. If you advocate for murder. You’re just as a bad as an insurance company not paying out. You both have no respect of ethics.
That's the joys of insurance they have no problem taking your money that you have to pay required by law but when the time comes to give it back they'll pull every string they can not to pay you
State Farm and anyother insurance company which has done this needs to be shut down. EVERYONE STOP PAYING PREMIUMS across the country!!! Make it make sense, you pay many years, then they cancel when they have to honor the services you paid for.
You know putting money under my mattress sounds like a better idea than spending it on this so called “insurance” at least that money didn’t go anywhere when I need it
@azo5000: thank you 💯, say it again. How anyone could live in those areas that are known to be susceptible to wildfires and not have a couple defenses is CrAzY.😮
@@MeMy.I Definitely. Construction needs to be cement and steel. All pools need to have mandatory pump and sprinkler systems. There should even be massive pumps by the ocean that can boost water pressure by pumping into the water system in emergencies like this.
Nah I’m not going to blame home insurance on this. The home insurance industry was one of the first to accept climate change and its effects back in the 90s. They tried to price in climate change risk but the states including California would not allow that. They only allowed “historical models” and not “catastrophe” models for pricing risk. They were also prevented from raising rates the past two years. I’ve been reading all over the news the past two years about this. Lastly just the wildfires in the previous years wiped out 25 years worth of profits, so these guys were definitely not raking it in. This was a failure of country and voters for denying climate change for over 100 years. Hell even Alexander graham bell was already talking about it!!
Imagine thinking that a private company should legally be forced to provide you home insurance for fires at an affordable rate. If you are so convinced of that then you should open your own insurance company and try it out!
@ yes 100% and they are. BUT if they came to you with a renewal of $1000/month last June and you said no to fire so you could get insurance for $50/month then that’s on you not them
Please act. The time for blaming is over. It is now time to act and to move forward. The current leadership at multiple levels has failed in multiple areas. This happened long before DEI, but unfortunately, DEI is not the solution. There still needs to be no discrimination and there are plenty of laws on point without DEI. Time to move forward with new leadership starting at the top who will get the problems solved or they, too, will need to be removed. But it’s all up to you, the American citizens of that beautiful state of California to make this happen. No one else can get it done.
Insurance always willing to take your money but when you need to claim it, they will be no where. Rules and regulations will be twisted to allow them all the leverage to not cover your insurance.
state farm: "hey, this place is prone to fire, you shouldn't be living there, we won't insure something that high risk" californians: "even though we chose to stay in this location with wildfires and earthquakes, it's all climate change/state farm's fault we don't have insurance" ... entitled much?
By that logic why live anywhere. No geography is completely safe from Mother Nature. Insurance companies are just trying to get out of paying claims as usual.
The reason they removed that is cause they couldn't raise there premiums to match the risk because of the laws there so of course a good company would leave when the risk is higher then the profits
“I’ll take your money as long as I don’t need to spend any. When it gets too risky I’ll cancel our contract and keep your money!”
-insurance
Its nothing but a glorified ponzi scheme
@@Plutogalaxywhat do you mean they got what they paid for?
I live in Louisiana. I wish I could I get all the money I wasted paying into insurance companies. All we are paying is for some high up CEO to afford his new Maybach or Mansion in the Hamptons.
@Plutogalaxy "they got what they paid for" what did they pay for? Insurance? Yes. Did they get insurance that they paid for? No. So tf did you even mean by that? Silly comment
@@jponz85it means that people have this misconception that insurance companies are compelled to issue policies to cover things. Insurance companies only have to cover the things that are in their contracts. I can write someone up an insurance contract where I restrict coverage of virtually everything but the most remote possibility ever occurring... As long as I meet the requisite amount of funding necessary to be regarded as solvent and I abide by the terms of that contract... I could not be compelled to cover something the contract does not expressly articulate being covered. The grievance against insurance companies is not credibly when they prohibit coverage of an event.. it's only when they indefensively deny coverage for an event their contracts specifically spells out that they would.
Deny, defend, depose. Coming soon.
Gen Z must be taking note to all this and I would not be surprise if they put a stamp 'close and defunct' to the real state sector...buying a house? No, that was an old societal ideology.
Fire took out a bunch of Luigi type kids..... nepo babies
Those arnt the ones they need to worry about 🫡@B86432
Or the leaders could actually do some preventive measures that would lower the risk for insurers.
Just like democrates ❤
Like a bad neighbor, State Farm isn’t there.
If your neighbor was storing 1000 gallons of gasoline next to your house what would you do?
1000 gallons of gasoline is relatively safe if stored properly. There are specialized tanks to store fuel in.
@@patrickhall3878bootlicker
Nah state farm be gay 😭
@arlisbartlett403 but dried brush is not stored in a good container.
Only 1 thing in all this is 100% guaranteed. The executives who made the call to cancel all those California policies are getting a promotion and a big fat b’onus this year.
You’re an idiot that doesn’t understand how failed woke demokRATS have caused the fires.
They should. It was smart to stop doing business when California won't let them raise rates on risky homes.
When the city is cutting budgets as the population is growing and then they tell them they can't raise rates it's a recipe for disaster. We need to put the blame where it belongs.
Good business practice, especially since the politicians in california refuse to implement the forestry management practices and water infrastructures that will mitigate and reduce wildfires
Called smart business. I despise insurance companies but this was a no brainer. The risk assessment was way too high for any company to insure. We're down to like 3-4 options now . Off course they would push climate change bullshit . This falls on the state not mitigating these fires.
People call Luigi a terrorist, I wonder what drove him to do what he did?
Reading too many posts on the Internet. He was from a rich family and didn’t have any insurance issues.
@@neilkurzman4907 You're late to your rich billionaire b00tlicking meeting
People never called that.
@@smeeangleare you blind? there's literally someone above you saying it
What's the connect of fire? Duh
You can't watch an NFL game without seeing a State Farm insurance LMAO
College game with met life . How do they have all the money for every commercial in prime time .
Insurance is a scam. It's basically a tax on nothing happening.
yea, this looks like a whole lot of nothing you are right
@user92714 When something DOES happen the insurance companies won't pay. 😒
Luigi knew it all along
Or essentially, your paying someone to "set aside" money for you, incase of emergency. What's to stop us from just saving that money to the side ourselves incase of a emergency. The whole concept of insurance is just outright robbery.
It's even worse than that. You're placing a bet against yourself that something bad will happen. You lose either way.
Here’s a thought, if Insurance companies are going to cancel policies, why not get rid of the mandate or the requirement that you have to have home insurance?
Or get back all the money you paid out when no claims were made. If we missed payments they would cancel us, well you cancelled despite on time payments so why not give me my money back.
@@PodiumTuningRacingvalid point ‼️
If you have mortgage, you’re required to have home insurance. Banks won’t take risk to lend you uninsured money.
Could not agree more and then also they should refund you all the premiums you paid because you did not use them!!
Or the leaders could actually do some preventive measures that would lower the risk for insurers.
Luigi looks more like a hero every day that passes.
no, you look like an idiot. let's see you operate a successful home insurance company which covers all over california and doesn't go bankrupt immediately.
@@xalspaerocan’t afford it, don’t operate in the state. If people are paying big premiums for fire insurance, they deserve the protection they PAID FOR.
@@ImOnGearSoWhat yea, and it's an at-will agreement so an insurance company can cancel that agreement at any time. obviously not AFTER a home gets annihilated, but before is fine.
Luigi is a nepo baby
@@B86432and youre a cum stain
Like a good neighbor State Farm ...Is getting the hell out of there ! 😆
I shouldn't be laughing but I am😅
😂😂😂
So a business is losing money by the boatload and your answer is they should’ve just toughed it out.
If they weren’t leaving before, they will certainly be leaving now
This is why insurance companies are getting desperate and hiring celebrities for their ads now lmao.
@@amols101acknowledgment of being a sociopath in no way mitigates the reality of being a sociopath.
Another Luigi about to take revenge.
Another spoiled rich kid? 😂
Mario
@@B86432suck on boot
who is State Farm CEO ?
Google is your friend.
I think Jon Farney
I'm sure nobody knows. For some reason insurance companies have removed their names from websites. Weird huh?
@@aceyage Ugh. They’re not really asking for the purpose of gaining information. They’re making a point (or possibly a veiled threat/recommendation), likely with reference to the recent assassination of the health insurance CEO. Critical reading skills are your friend.
Why do you want to know?
Jake is not a good neighbor, because he was never even there.
They changed his skin color to black for no reason.
White guy Jake from State Farm was always the real OG.
We need to FREE Luigi
Louisiana resident here. I was dropped twice by insurance companies. Last year was the second time. I recieved a nice little letter in the mail basically informing me that I was too much of a risk being a Louisiana resident. Additionally, I live in a manufactured homes and other insurance companies won't insure a home with roof that's over 10 years old. They find every excuse not to give you any coverage. I currently only have flood insurance which I just paid too much for. I'm sick of the whole fraudulent circus.
And, this sickness you have is growing. People are tired of this scam.
I feel your pain. Our California neighbors are about to get a dose of reality really quickly. Lowered property values because no one can purchase without insurance, that no one can buy because it's unavailable or unaffordable. They're going to be stuck with " Million " dollar 2 bed/ 1 bath homes that are unsellable and unable to insure themselves.
Insurance: I’m sorry for your loss, but you’re not covered, NEXT!
You left out the epilogue..."given that not only did your policy not cover fire, expressly stated it would not cover fire.". Private insurance companies are just that... Private.
I give up most of these comments are ridiculous
@@DeeMay-u4rso true, these people are so uneducated.
Where is Luigi Mangione at for this one?
this is pretty different from united health though, insurance providers left california because they were legally unable to price their premiums to match risk and the govt refused to do anything to lower the risk. most of them would likely be bankrupt had they stayed (made pretty obvious when the states own insurance only has a few hundred million in reserves vs. their 7B exposure)
There is no point rebuilding and living in an area that insurance companies won’t cover.
Some homeowners will just sell their land at below price and move elsewhere. Even those who can afford to rebuild will think twice because they’ll just be surroundings looking like a war zone neighborhood. And some will be paranoid that it will happen again soon. So why build again. Just sell the piece of property.
Insurance wont pay unless they rebuild.
Bingo, so some billionaire will buy up all the property/ land
@@anthonyalexzander2104
That's incorrect.
They cut a check...they pay your mortgage company first OR you one lump sum.
If the mortgage is satisfied, then what you do with the remaining money is YOUR choice.
The other option would be to build their houses more fire resistant.
@@anthonyalexzander2104that is true. Our house in paradise burned down in 2018 and insurances told us if we do not rebuild something that they wouldn't pay us out. Ridiculous
in north carolina insurance company left when they know its coming and it left us broke forever
That's sad. And I wish poorly educated Trumpers realized Insurance Corporations are doing this in not just Democrat Majority California. But Republican states like N.Caroiina n especially Florida.
They left and didn’t refund all the policies so that at least people have their money back for all the years they paid into an unusable policy?
@@HandsomeMalcolmcats tell me you don't know how insurance works without telling me you don't know how insurance works.
@@ChuckStewart-q3zTwo week account. You need smacked
They leave in advance not when it's known, they give you a good heads up on when they're not insuring in an area yall act like they dropped you the night before a storm
Insurance, the BIGGEST LEGAL SCAM EVER. I’ll charge you thousands upon thousands but when it comes the time to do my part, I’ll just bail out and I’m nothing to you.
I don’t get why people are so mad. State Farm cancelled the renewal BEFORE the fire even happened. They have no obligation to pay after the end of the of their contract nor do they have an obligation to stay in an extremely risky area when someone decides to stay. State Farm moved out more people should have taken that as a sign to move out to.
@@hhn2002 We are mad because we are tired of paying into a system that can up and leave us at the drop of a hat.
People can self insure their homes. What's crazier is that you build your home in a known wildfire.area.and expect someone to be forced to cover that decision
@@brotherakuma they didn't build the homes. Someone else did. This is such an asinine comment to put the blame on the victims here.
@@brotherakuma and newsflash dude, natural disasters happen EVERYWHERE.
No worries USA tax payers will Pay and everyone's insurance premiums will go up for everyone again in the USA
Yes and it's going to be a total drag since it's too expensive.
Only cash buyers will be able to purchase homes now.
Ooofff…true
You mean, only cash buyers will be able to purchase homes in fire zones in the future.
You will own nothing and be happy
@@dixonmopar2129 It's going to be a drag.
Also developers and big companies are looking to buy some of those lands .
State Farm doesn't pay fire claims. Meanwhile they tell customers who live in low risk states and have paid 20 years : " We are raising rates becausr wildfires that we've paid out". My friend works SF and she told me this is what they do.
You do realize that insurance companies only profit about 2% right? Each house there in cali would cost like a million to replace so just imagine that
@GDUBLU_Fan It may be . But what is 2% of trillions ? Thats just life . Not counting auto and home. This year was lower profit. But in 40 year history. So they've been earning for a very long time.
Of course.
Yup. Our insurance went up after the 2018 fire and we live in a very low risk area of Arizona.
@@evielknievel4972 That’s how a business should work, make enough profit so that it can be reinvested back into the business. I think 2% profit is reasonable in my opinion
We will all be facing an insurance crisis after this past year.
If possible America as a whole should start building concrete houses on steel foundations with ceramic tiled roofing. Non combustible and more resistant to earthquake and Hurricane damage.
@martinabert29 Alot more costly than wood.
@@ctufan24 because the current wood houses are cheap😂😂😂
Oh please… they don’t want to build houses with expensive materials lol… they want to build for cheap and sell for way more.- but definitely better off building your OWN house, that’s the only way, granted your money is right.
Best luck
That's how my house in Mexico is built. U.S homes are made of paper in comparison. 😂
California government should be a home insurance provider for state of California
It’s paradoxical, insurance companies only wanting to cover unlikely events. Then what’s the point of insurance, cancel
I can tell you, it's a legal Scam.
Wrong. Insurance companies charged based on risks, but California has capped that amount so now the insurance companies are pulling out since they do not want to be bankrupted by a single US state.
the state fire fund only has $200 million - so enough money to cover a couple dozen houses in pacific palisades ..
OK, then here is a thought...why not just stop people from living in a known fire prone area, and instead force them to live with everyone else in the city proper? Do you see anyone in South Central or Crenshaw or Long Beach crying their eyes out with the woe is me crap right now? Try not building houses in areas that burn really easy.
@@starventureand increase the prices and living of those places you mentioned? Lol there's no way around this. We are all f'ed after this period.
@@jponz85 Build smarter, not flashier.
@@starventure that still doesn't get to the root of the issue star. Every single place on this Earth is prone to some type of natural disaster. Whether it be fires, earthquakes, hurricanes, tornadoes, blizzards, mud slides, etc. Just because you are prone to a natural disaster, doesn't give these insurance companies the right to up and leave you on a whim, when you are paying for their "service". If anything, these companies should be forced to accept this risk if they decide to enter these "risky" markets. That was their fault, and they should be forced to reap the consequences if their gamble doesn't pay off.
Those insurance CEO's should stay home for a while
Most these homes don't have mortgage or insurance since they were bought in cash n insurance companies left after the last fire
Nah they flee country completely
insurance is turning into scam nowadays
So people spend thousands on insurance until an incident happens then the insurance doesn’t care about all the money you payed
California is a bit unique in that its insurance commission has prevented insurance companies from raising rates to reflect actual risk - because of this, premiums have been kept artificially low for years. That's good in the short term for consumers, but not really in the long term. I'm not a friend of insurance companies, but something has to give here. Rates are going to have to go up to reflect actual risk. I moved from VA to CA years ago. I lived on the edge of a high risk fire area. My insurance premium was actually LESS in CA than back in VA (same square footage) - for a high risk location, that just doesn't make any sense.
Unlike a good neighbor, state farm is not there
State Farm. "WE'RE ALWAYS THERE FOR YOUR MONEY, NOT OURS TO YOU"
"Like the Grim Reaper, State Farms is there."
United HealthCare Insurance (Ponzi Scheme) and now State Farm is the same Ponzi Scheme
Their all a Ponzi Scheme. And, our Politian's are in on it.
If they no longer insure then refund ALL premiums paid prior to that decision.
Stop it. The insurance companies non renew that means while you were paying you were covered
Premiums are for the period when you were covered, not for some future period when you weren't.
Insurance isn't black magic. It only works when risk is low enough that an asset is insurable in the first place.
Every insurance company would go bankrupt if they were in the business of insuring houses that were almost certain to go up in flames because of government mismanagement and it's not on everyone else in the country to pay higher premiums just because California can't get their act together.
Good luck with that theory 😂😂
completely braindead statement
I imagine lots of vacant lots for the next few years
No Firefighting Equipment ... No Budget ..... No Water .... But , Plenty of Lesbians !
New rentals for the olympics 😂😂
According to the website, LA is scheduling to be a smart city by the Olympics in 2028 so the lots will not be vacant for long.
@@april-showers77like when Rome burned so Nero could build his palace in the downtown
Takes 2 years to build in the area
So State Farm warned of the problem and left the state in 2023 …. And they’re the problem? Insurance is an annual contract, you get coverage during, not before or after.
Found the insurance agent.
Like a good neighbor, we're there till you actually need us.
This is actually law maker fault. The problem is that wild fires are insane in California and the pricing for new homes is expensive. New laws prevent insurance companies to increase their premium so they are in a spot that they have to stop insuring or they are operating at a loss.
Insurance claims getting turned down. I wonder how many with AI? Turns out Luigi was right after all 😄
Luigi admitted he didn't know how the insurance system worked.
He wasn’t and he’s the kind of guy that would have started the fires
@@gageshippy2256 He does now.
Do they really think the insurance company's have that kind of money to pay for all of the claims being filled? Forget about it, those claims will never be paid.
@MomCycleKing Exactly what I first thought. Their going to put a hold on new claims due to the excessiveness. It will be decades before those neighborhoods look like they did. Population will decline rapidly < decline in local economy. Supply & demand.
@@ctufan24They can't put a hold on new claims, except perhaps by filing for bankruptcy protection. They can put a hold on new policies... And are not bound to pay on Old policies that don't cover a prevailing incident. But - It seems the pervading circumstances not insufficient funds to cover current policies, but that many current policies do not offer coverage for this incident.
It’s worse because insurance companies invest heavily in bonds and there are huge unrealized losses in those bond portfolios. When they cash out those bonds to cover claims those losses will become realized. They are going to lose a fortune on both ends.
Didn't Biden already say the government is here for them? I assume the insurance companies will get a bail out
His garbled brain spills confusing incomplete confusing unconnected thoughts. CA knows their only salvage is Trump. His name now is spoken by the CA politicans. They say they have to work with him - more like beg!😅
Unlike the leadership in California, insurance companies saw the risk of unmanaged forests and cut fire budgets.
My roomates family had State Farm for 38 years. When their house burned they got 5k
Don't believe it
I believe it
Bullshit 🤣
And then Obama came to your house and began clapping
This is the SCAM.
It’s a domino effect of decades of poor leadership. Lack of insurance and fires are the effect; not the cause.
I was watching a video from the 60's yesterday about it, so yuup, no one has ever really taken care of things.
@ it’s just been decades of kicking the can down the road on every issue imaginable.
Leadership lost their own way.
@HappyHappy-sq4ij Yuup, "it was that way when I got here" is how a lot of them reason, which is why I wonder why they get into politics of all things. 🤔 I guess this would be MASSIVELY expensive to fix, to the point perhaps where rebuilding once in a while is easier than trying to get taxpayers to pay, maybe. 🤷🏼♂️
Human caused catastrophes. Pollute and destroy the forests at the same time.
This is when the people need you the most. Please help them, insurance companies.
(((laughing))) Your funny. Did you just land on planet Earth?
Shocking (but not really) how little people actually understand how the world works. Here’s how it works - the insurance company will cover your property if they think the risk of a disaster is within appetite. If they think there is a high likelihood that there will be a disaster, and that they will lose money, they will not. This is basic business and common sense, and is analogous to how every person makes decisions - based on risk and reward.
Or are the insurance companies supposed to renew policies in these areas knowing it would put them out of business if a disaster occurred? I guess common sense isn’t so common after all.
I agree but not when an insurance company abruptly cancel someone’s active policy during a real time wildfire event. This is what State Farm did regardless of whether the homes are already burned down or soon to be burned down or soon to catch fires
@AM93000 they canceled it like months ago so it's not like people didn't have time to find another insurance companies that had what they needed
@@AM93000it’s not abruptly. people are given more than a months notice at least 45 days i believe
@@AM93000
It's more like there was always a risk for this thing to happen, gov didn't do anything about it, and insurance saw the signs, so they decided to gtfo because they don't have hundeds of billions of dollars laying around.
these looming issues you speak of stem from people thinking its is fine to build your house anywhere you please at any size in any situation..........not the case
No, they stem from government officials shirking their duties. Wildfires have always been a risk in California, just like hurricanes in Florida, flooding in Louisiana, tornadoes in Kansas, etc. It is the job of city and state officials to mitigate wildfire risk. To prevent fires from starting, to starve them of fuel and to be ready to fight them when they do start. This is not a case of irresponsible building practices (these neighborhoods have been there for decades) or doing everything right and still losing out to nature's wrath. It is the result of decades of neglect and incompetence by politicians who care more about optics and virtue-signalling than providing actual services to their community.
@@jakeviolet2195What policies or actions has the state taken that have been neglectful compared to decades ago?
From my understanding, the state would try to prevent fires altogether and has recently implemented more sound fire management like controlled burns.
Considering the amount of land engulfed by flames, the 100+ mph wind, and the drought, I doubt there's much the state could've done to completely prevent this.
Not to say the state shouldn't attempt to reduce fire risks or retrofit buildings to be more resistant to fires, but it seems impossible to do that for how large Cali is.
@trainerkam3218 how about not building the water irrigation plants around the state that voters approved 10 plus years ago.
Not having a plan to get the hydrants filled during a major fire.
L.A emptying a 117 plus million gallon reservoir for "repais" during the peak of santa ana wind season.
Not allowing neighborhoods to clear out brush and vegetation voluntarily on public property.
The state spending 24 billion dollars on the homeless problem just last year alone.
Not listening to why the insurance companies are leaving the state/canceling fire coverage in homeowners policies. They have been stating for years that there is extreme fire risk because of the state and local governments not doing any type of preventative maintenance to tackle future fires.
Etc, etc, etc..... Worst run state by far in the country.
That is the definition of incompetent government. And the sad thing is, people will continue to vote in bad leadership and nothing will change.
@@trainerkam3218They drained a nearby dam to save a couple of fish 🤦♂️
@@GDUBLU_Fan Which dam are you referring to? Also what fish? If the fish was endangered or served as an important indicator for something like, water quality, I can see why the state would take conservation actions, especially if this is before the fires started.
Dont believe the lies. The crises is the CEO'S will have to not get a bonus? People paid in for years for " protection" and insurers take the $ & do ???? There should never be an argument about coverage. Its paid into, now pay out.
The court system thats essentially designed for bankers, insurance companies and wealthy people will certainly have the temperature cranked right up.
Everyone is mad at insurance companies for recognizing an untenable risk instead of being mad at their government for failing to address that risk.
What an odd thing.
The drooling sheep just keep talking about Luigi instead of recognizing the true shortcomings
Exactly. Trump warned about cleaning up the dry brush and Dems just laughed and cut the budget and introduced DEI into fire stations
Yes, I agree. Our public officials, are getting their share of this Scam so why do anything?
Can’t depend on insurance. Why is it even a requirement. It’s all a big scam.
Insurance companies are not obligated to write policies for things they don't want to cover. I truly feel for these victims of these fires... But if their insurance company did not include a provision for fire, they cannot legally now be demanded to be on the hook to cover it.
Thats so true. They took the risk, and lost. But the opposite is true, too. , I'd bet the Insurance company will not pay for the damage, they'll find a way not to pay.
@@stone5015
Nor should they pay for the uninsured.
Wouldn’t be so expensive if these rich people didn’t have unnecessary sized homes
Necessity is relative and subjective.
If you ask people from poorer parts of the world, they'd say your lifestyle is also unnecessary and 20 sqft per person is enough living space and clean water is an unnecessary luxury.
@@FinweTatagood point
I worked for State Farm corporate for almost 30 years. Every since the old CEO retired and the new CEO (who was an accountant) took over, it's all about the money. He doesn't give a rats arse about the employees or policyholders. Thousands of employees let go and now this. It will happen in Florida the next hurricane as well or Texas with the next hail storm.
Insurance never covers wild fire. Why do people claim the insurance? They dont read the policies? Its crazy.
Because we HAVE to have insurance. That's the problem.
@@troybaxter It is only enforced if you need a mortgage, isnt it?
@@iROChakri you also have to get stuff like Rental Insurance if you are a renter. The point is that we have to have insurance in some way, shape, or form. Plus, I can guarantee you that most of these people that own these homes have not paid off their mortgage yet.
If one reads the policy, it covers nothing except the purse of the company
The immense fire losses to homes and businesses is a heartbreaking tragedy! The ramifications of these fires will be felt for 20 years or more!
And this is why no insurance should ever be required by law to have.
Wrong, if done correctly it keeps prices down, quite common in the EU
It's not if you pay cash
Pay cash then
Law doesn't require insurance. Lender do.
home insurance isn’t required by law
They should report which politicians are getting “donations” from these insurance companies
YES!!!
Todays insurance: "Yes sir , we cover floods, however if you read the fine print you'd clearly see that we don't cover salt damage." But it's salt water. "Sir, I'm glad you now understand."
It's really different when it comes to the definition of salt water damage and salt damage😂
i live in the midwest. a dozen homes in my neighborhood had roofs replaced due to a hail storm, including both of my direct neighbors. they have other insurance providers. we have state farm and of course were denied. meanwhile state farm keeps paying to have these celebs in their cheesy commercials.
That's part of the scam. Just like Health Insurance... Auto Insurance ... It's all BS
here in Oklahoma we have had a lot of people migrating from california. A 600,000 home in CA is worth 75,000 here. Its a red state though so maybe not ideal for CA migrants.
Didn’t Oklahomans move to California during the dust bowl? They probably have relatives there and would adapt no problem
Won't be 75k for long
It's harder to earn 75k in oklahoma than to earn 600k in california.
What’s the hourly wage in Oklahoma?
My big question is, if you were dropped, why do you wait until you have to file a claim before you bring awareness to this?
This has been talked about for more than a year now. You are just not paying attention
Now the world will see that insurance is a joke lol
Yup don’t get any and see if that works out better for you. Do you even know why there is even fire insurance?
I thought y’all didn’t like insurance companies and then when they pull out of their y’all start crying 😂
Insurance companies spend your money making commercials and not actually helping their customers.
Insurance is not to protect you. It’s to make the insurance company rich. If you could see the corporate offices of these insurance companies and how they spend their money you will see how much money they have to waste
Exactly.
what happens to all the mortgage companies when there's no house to reposes, and people can't afford to rebuild. this is bad news for California.
Life has consequences, and you vote for the California government to implement a price ceiling on home insurance. If the insurance firms can’t make money, then they will not offer your state their services. It’s the pe Life has consequences, and you voted for the California government to implement a price ceiling on home insurance. If the insurance firms can’t make money, then they will not offer your state their services. It’s the people’s fault; you wanted this.
What's insane is they raised the premiums back in 2018 just to not pay it now. What's even crazier is they're going to legally get away with it too.
Thats the scam, Andrew.
That would morbidly funny if the insurance company’s started fighting the oil companies for them causing climate change and losing money because of it
The oil companies can simply point to other nations and companies and say "you have a beef with them, not us."
Global warming 😂
My previous insurance stopped covering fire insurance. It took me a lot of looking to find someone to insure my house with fire coverage, and I am just in a suburb, not really next to brush or anything. AAA is the only place I was able to find... For-profit insurance is a total scam. You pay in all your life and get nothing when you actually need the help.
It isnt a "scam". You just never bothered to understand what insurance is, and seem to think that it was a magic money savings account that guarantees you 10X what you actually paid in.
@@xandercruz900 The concept of insurance isn't hard to understand... The insurance company uses statistics and risk assessment to set the price and coverage amounts... It is their entire job to ensure that they have enough money on hand to cover the claims... If you pay in all your life and the insurance company simply decides they are not going to pay out when you have an actual claim, that is what most normal people would call a scam.
@ " If you pay in all your life and the insurance company simply decides they are not going to pay out when you have an actual claim,"
Why do you people keep saying this like robots as if it means something?
You premiums are the fee to have access to the service. IT IS NOT AN INDIVIDUAL SAVINGS ACCOUNT.
They did not renew the contracts because they saw the area as being too high risk! How hard is that for you to get? You went paying premiums to your mom and dad. These people dont owe you insurance because you paid your bill like you were supposed to in the past. Once the term of the contract is up, BOTH sides can renew or not.
What is the so-called "scam"? That your feelings were hurt because they didnt? "Paid all my life" is some sentimental nonsense you scammed yourself with.
@ I have lived in my current house for almost 15 years and my insurance all of the sudden decided last year to not renew my house's insurance because it was deemed "too high risk"... What is your suggestion in this case? Do you really think that I should have to move myself and my whole family to some other place in the country which isn't as "high risk"? Who is going to pay for that? If you have the means to pay for your whole family to leave and get new jobs, great, you are better off than the majority of the people in this country who do not have this ability... When I bought my house, insurance did not deem it "too high risk"... People can't be expected to just leave their lives behind on a whim because insurance can change their minds on a whim... If you have fire insurance at the time a fire takes place, and the insurance company does not pay you your claim, that is a breach of a legal contract between the policyholder and the insurance company. The word scam literally means "a dishonest scheme" which is exactly what these insurance companies sell.
@@chaws314 " What is your suggestion in this case? "
Find another company. What are you, 12?
"Do you really think that I should have to move myself and my whole family to some other place in the country which isn't as "high risk"?"
You dont have to do anything. Hold your breath and stomp your feet for all I care, that isnt going to make insurance fall from the sky.
"If you have fire insurance at the time a fire takes place, and the insurance company does not pay you your claim, that is a breach of a legal contract between the policyholder and the insurance company."
OK? That have jack all to do with this, which is people like you whining that contracts weren't renewed BEFORE these fires took place because the insurance companies saw the risk from poor forest management, could not raise premiums, and therefore DID NOT RENEW THE CONTRACTS and left the area.
THERE IS NO SCAM HERE. People like you just didnt take the situation seriously.
The insurance company knew the risk but the local government didn't? Incompetence
They knew too, but diversity was their top priority.
Of course. The insurance company is a business. The government can't go bankrupt. No one in the corrupt government that is California will lose their job due to incompetence. People working a job like insurance agent don't have that luxury. It's honestly weird that the insurance companies haven't already left California given that the state just thinks it can force them to lower prices while they actively make things more dangerous and risky.
And what would you like the local government to do? Force people to fireproof their house at gunpoint?
@@gageshippy2256
Do you think you’ll lose your posting privilege due to your incompetent post?
@@neilkurzman4907people wouldn’t like cooperating with the government anyways unless it’s involves government handouts so
No wonder Luigi is so liked.
More CEO's have just scrubbed their titles and photos from the internet and upgraded their security do to the"delay, deny, defend policies.
And that's why people like Anonymous are very gleefully revealing that information whenever possible
Officials asking insurance companies to do the right thing. LOL. I can't stop laughing
Isn't the purpose of purchasing insurance is to be assured? If so who feels assured of their insurance? You may have better luck at a casino.
If the policy did not state an assurance of covering a given event... Then no assurance was violated.
The purpose is for the bank which has your mortgage to have their assets insured has nothing to do with you n your stuff
Yes if their claims gets denied.
I agree.
They weren't insured. Stop spreading misinformation.
We in the gulf coast are paying for homeowners, wind storm and some flood insurance,some choose not to pay and end up loosing everything. It's not up to fema to pay for a disaster it's up to the home owner to have coverage,but sadly some are depending on the gov to bail them out .
Not everybody is wealthy and privileged and not everybody can afford hundreds, sometimes thousands per month for insurance.
why they blame more the Weather.. do they had enough effort of monitoring the fire prone areas, do more preparation and prevention?? 💔💔
Hmm, insurance companies dropping customers right before they would have to pay out.... Nothing suspicious there!
Nothing.
It's called foresight, idiot. They even warned the state of California this is likely to happen and they did nothing.
Insurance is a business. Waiting to see what BS response they come up with for this
Simple. They have to make sure that their more reliable customers are protected, so they will explain the denials are good business decisions not just in the interest of the usual suspects, like shareholders, but the customers as well. State Farm explains to the rest of the country "We saved you from the reckless Californians", and they come out smelling like roses.
The typical response they will come up with is inflation ahahahah
"How many times do we need to teach you this lesson, old man?"
Paging Luigi. Paging Luigi.
YEP LUIGI AKA ROBIN HOOD WAS 100 PERCENT RIGHT
Trump loves Corporations. Especially Healthcare n Homeowners ones. He's Not going to allow any more "Luigis". Nor force Corporations to behave. Don't be so naive n gullible. Ain't Cold Blooded Unfettered American Capitolism n Greed Grand, lol???😅😅😅
Yeah what a hero 😂 nepo baby
@@sinistan1002if robin hood was rich & cut from the same cloth & lived same lifestyle sure 😂
Paging the fbi. FBI this guy advocates for a murderer.
If you advocate for murder. You’re just as a bad as an insurance company not paying out. You both have no respect of ethics.
That's the joys of insurance they have no problem taking your money that you have to pay required by law but when the time comes to give it back they'll pull every string they can not to pay you
Scam. That's how it works.
State Farm and anyother insurance company which has done this needs to be shut down. EVERYONE STOP PAYING PREMIUMS across the country!!! Make it make sense, you pay many years, then they cancel when they have to honor the services you paid for.
That;s exactly what they do. They knew the risk, took the premiums for years, and once the fires broke out, they leave. Thats the Scam.
You know putting money under my mattress sounds like a better idea than spending it on this so called “insurance” at least that money didn’t go anywhere when I need it
What if....house burns down??? Wouldn't the mattress be there?
@@MrCobolt That and not everybody is able to put away many hundreds of thousands of dollars in an emergency fund.
Insurance is not a replacement for a solid firefighting defense or good construction.
@azo5000: thank you 💯, say it again. How anyone could live in those areas that are known to be susceptible to wildfires and not have a couple defenses is CrAzY.😮
@@MeMy.I Definitely. Construction needs to be cement and steel. All pools need to have mandatory pump and sprinkler systems. There should even be massive pumps by the ocean that can boost water pressure by pumping into the water system in emergencies like this.
Nah I’m not going to blame home insurance on this. The home insurance industry was one of the first to accept climate change and its effects back in the 90s.
They tried to price in climate change risk but the states including California would not allow that. They only allowed “historical models” and not “catastrophe” models for pricing risk.
They were also prevented from raising rates the past two years. I’ve been reading all over the news the past two years about this.
Lastly just the wildfires in the previous years wiped out 25 years worth of profits, so these guys were definitely not raking it in.
This was a failure of country and voters for denying climate change for over 100 years. Hell even Alexander graham bell was already talking about it!!
State Farm isn’t there? Bundle that sheet
Imagine thinking that a private company should legally be forced to provide you home insurance for fires at an affordable rate. If you are so convinced of that then you should open your own insurance company and try it out!
Yes, they should be legally forced to uphold their side of the bargain. They took the risk with you, so they have to accept their actions.
@ yes 100% and they are. BUT if they came to you with a renewal of $1000/month last June and you said no to fire so you could get insurance for $50/month then that’s on you not them
Prayers for the victims 🙏 😢😢😢
Yet these insurance companies wonder why they have such bad PR smh
They know why. Come on.
They capped prices, so insurers stopped insuring them. Cant force someone to offer you a product if you're not willing to pay for it.
Please act. The time for blaming is over. It is now time to act and to move forward. The current leadership at multiple levels has failed in multiple areas. This happened long before DEI, but unfortunately, DEI is not the solution. There still needs to be no discrimination and there are plenty of laws on point without DEI. Time to move forward with new leadership starting at the top who will get the problems solved or they, too, will need to be removed.
But it’s all up to you, the American citizens of that beautiful state of California to make this happen. No one else can get it done.
Lol, don't worry. Trump will fix everything. 😂
@@Halcon_Sierreno No. Only the citizens of California can fix their state and local leadership problem.
@@willcox4561 Trump and Musk will fix everything with their department of government efficiency. 🤗
Insurance always willing to take your money but when you need to claim it, they will be no where. Rules and regulations will be twisted to allow them all the leverage to not cover your insurance.
So true.
state farm: "hey, this place is prone to fire, you shouldn't be living there, we won't insure something that high risk" californians: "even though we chose to stay in this location with wildfires and earthquakes, it's all climate change/state farm's fault we don't have insurance" ... entitled much?
Just like people who choose to live in the Midwest where there are tornadoes. It makes NO sense!
By that logic why live anywhere. No geography is completely safe from Mother Nature. Insurance companies are just trying to get out of paying claims as usual.
@@blacksquid270Texas isnt getting these massive wildfire every week, that’s the difference
The reason they removed that is cause they couldn't raise there premiums to match the risk because of the laws there so of course a good company would leave when the risk is higher then the profits
soft on crime
fires
homelessness
doesn't sound like a good place to live
California is so far messed up, governor has to go... California has to get their act together.
@@MrPl0xygen California needs to stop sending money to red states and take care of their own!
California sends families to red states.
@@dixonmopar2129 Red uneducated states are the ones stuck in the past. 😂
@@dixonmopar2129 California’s economy ranks 5th internationally. That would be impossible if they were stuck in the 60s. 🤦🏻♂️
@@Prague1810 Because of a dozen tech companies - that's pretty much it. 90% of their other businesses have nominal contributions.
If I was an insurance CEO I'd be very afraid right now
And the rest of the home owners in America are going to pay for it.
Good. Since Californias economy literally supports the welfare red states.