State Farm canceled 70% of its fire insurance coverage in Pacific Palisades last July

[odanny]

This is a huge win for State Farm, someone responsible for this is surely getting promoted. There was coverage available thru the state, but it was 4x as expensive and offered less coverage.

I'm not even sure State Farm offers coverage in much of coastal Florida anymore.

 

[Woodznutz]

This is a huge win for State Farm, someone responsible for this is surely getting promoted. There was coverage available thru the state, but it was 4x as expensive and offered less coverage.

I'm not even sure State Farm offers coverage in much of coastal Florida anymore.

Can't blame them, considering the obvious risks.

 

[Polishprince]

The risk was more than Jake from State Farm was willing to accept.

State Farm is a business, not a government agency and not a charity.

And they were proved right.

BTW, the homeowners had 6 months to make other provisions

 

[Woodznutz]

The risk was more than Jake from State Farm was willing to accept.

State Farm is a business, not a government agency and not a charity.

And they were proved right.

BTW, the homeowners had 6 months to make other provisions

The whole neighborhood would have had do fireproofing in order to (hopefully) be effective. But that would be like herding cats.

 

[Meister]

I do believe that a blind man can see the contrast of a private company protecting the shareholders investment, and
the federal government throwing tax dollars into the fire.
The fire couldn't have been avoided, but the extent of the damage sure could have been reduced immensely.

 

[MisterBeale]

The risk was more than Jake from State Farm was willing to accept.

 

[lg325]

If it was in the policy contract allowing them to cancel then the property owners more than likely have no case against them.
It is sad situation and charity and government needs to do what they can. I have been told that certain groups lobbied and stopped any attempt at fire prevention like cutting firebreaks in the brush lands near residential areas.

 

[Cellblock2429]

This is a huge win for State Farm, someone responsible for this is surely getting promoted. There was coverage available thru the state, but it was 4x as expensive and offered less coverage.

I'm not even sure State Farm offers coverage in much of coastal Florida anymore.

/—-/ Mike Johnson says no aid without reform.

Mike Johnson: 'There Should Be 'Conditions' On Disaster Aid For Wildfires | 710 WOR

Speaker Johnson blamed the devastating wildfires in Los Angeles on Democratic leaders.

710wor.iheart.com

 

[sparky]

~S~

 

[Zincwarrior]

/—-/ Mike Johnson says no aid without reform.

Mike Johnson: 'There Should Be 'Conditions' On Disaster Aid For Wildfires | 710 WOR

Speaker Johnson blamed the devastating wildfires in Los Angeles on Democratic leaders.

710wor.iheart.com

If they go down that road, then Texas, Louisiana, Alabama, Mississippi, Florida and Oklahoma will rue the day.

 

[Cellblock2429]

If they go down that road, then Texas, Louisiana, Alabama, Mississippi, Florida and Oklahoma will rue the day.

/—-/ What self inflicted harm did those states do?

 

[Failzero]

They want to Socialize the Insurance industry

 

[Zincwarrior]

/—-/ What self inflicted harm did those states do?

If you make aid political it won't matter.

 

[Zincwarrior]

They want to Socialize the Insurance industry

I wouldn't ask Floridians about that. You might get surprised.

 

[Mac-7]

The risk was more than Jake from State Farm was willing to accept.

State Farm is a business, not a government agency and not a charity.

And they were proved right.

BTW, the homeowners had 6 months to make other provisions

Reports are that many homeowners did not have insurance

Which I believe is impossible if there is a mortgage on the house because banks require insurance

It becomes an interesting question

 

[westwall]

Can't blame them, considering the obvious risks.

Yup. California has basically lit a match and piled kindling against most of the SoCal cities.

It's fiscally irresponsible to insure people in that case.

 

[Mac-7]

If you make aid political it won't matter.

I think FEMA will provide temporary aid and comfort

But that does not mean giving california a trillion federal dollars to rebuild good as new

 

[Failzero]

I wouldn't ask Floridians about that. You might get surprised.

As an Andrew Survivor I’m not sure what your getting at , but as a Carr Fire Survivor I totally get it .

 

[martybegan]

This is a huge win for State Farm, someone responsible for this is surely getting promoted. There was coverage available thru the state, but it was 4x as expensive and offered less coverage.

I'm not even sure State Farm offers coverage in much of coastal Florida anymore.

The difference is California made it very very difficult for the Insurance companies to raise rates to properly cover the risks.

 

[martybegan]

Yup. California has basically lit a match and piled kindling against most of the SoCal cities.

It's fiscally irresponsible to insure people in that case.

The main irresponsibility is the State government of California telling insurance companies they can't follow their risk tables when it comes to rate increases.