Major insurers leaving California homeowner's market

[T. A. Gardner]

The major US homeowner insurance companies are fleeing California now. Snake Farm... err, State Farm is the latest in a string of major insurers to quit the state.

Insurance giants Chubb, Liberty Mutual, and AIG are three of the biggest insurers of fossil fuel infrastructure around the world. But the companies have just announced plans to scale back their homeowner coverage in California, where they insist future climate-related losses will likely prevent them from turning a profit.
https://jacobin.com/2022/02/califor...ill likely prevent them from turning a profit.

State Farm will no longer offer home insurance to new customers in California amid growing wildfire concerns
https://www.msn.com/en-us/money/ins...ia-amid-growing-wildfire-concerns/ar-AA1bM9rt

My bet is the ones that remain jack rates through the rafters. Good luck getting reasonable coverage from a company that isn't total assholes...

 

[ptif219]

The major US homeowner insurance companies are fleeing California now. Snake Farm... err, State Farm is the latest in a string of major insurers to quit the state.

Insurance giants Chubb, Liberty Mutual, and AIG are three of the biggest insurers of fossil fuel infrastructure around the world. But the companies have just announced plans to scale back their homeowner coverage in California, where they insist future climate-related losses will likely prevent them from turning a profit.
https://jacobin.com/2022/02/califor...ill likely prevent them from turning a profit.

State Farm will no longer offer home insurance to new customers in California amid growing wildfire concerns
https://www.msn.com/en-us/money/ins...ia-amid-growing-wildfire-concerns/ar-AA1bM9rt

My bet is the ones that remain jack rates through the rafters. Good luck getting reasonable coverage from a company that isn't total assholes...

They have been doing that for years here in Florida

 

[LurchAddams]

The major US homeowner insurance companies are fleeing California now. Snake Farm... err, State Farm is the latest in a string of major insurers to quit the state.

Insurance giants Chubb, Liberty Mutual, and AIG are three of the biggest insurers of fossil fuel infrastructure around the world. But the companies have just announced plans to scale back their homeowner coverage in California, where they insist future climate-related losses will likely prevent them from turning a profit.
https://jacobin.com/2022/02/califor...ill likely prevent them from turning a profit.

State Farm will no longer offer home insurance to new customers in California amid growing wildfire concerns
https://www.msn.com/en-us/money/ins...ia-amid-growing-wildfire-concerns/ar-AA1bM9rt

My bet is the ones that remain jack rates through the rafters. Good luck getting reasonable coverage from a company that isn't total assholes...

http[/QUOTE]

You left out Floriduh.

[url]https://www.forbes.com/advisor/homeowners-insurance/why-is-homeowners-insurance-in-florida-such-a-disaster/[/url]

"After the massive losses from the 2004 and 2005 hurricanes, insurance companies such as State Farm—the nation’s largest home insurer—notified Florida officials it was scaling back operations and it would stop offering property insurance to residents. Other major insurers followed suit."

What a shock you fail to note it :)

 

[Hawkeye10]

It only gets worse from here.