Increase in insurance

[Tom D]

I have never heard of algae on the roof. You get algae growth in a sitting half empty swimming pool after a while. But a roof, you sure the pitch and drain are working. Come to think about it, i have seen some algae on those asbestos house shingles long ago. And on some stucco. How can the algae survive on a hot tin roof.

 

[Fernando]

My sister today told me to make sure if put in a Trust, the property should have the Trust as added insured.
Seems like insurance companies finding ways not to pay up.

 

[Tom D]

Car insurance went up again. Around here haven't ever seen a fire, that price has been stable for 10 years. But then, my daughter can the house hit another house.

 

[Fernando]

Car insurance went up again. Around here haven't ever seen a fire, that price has been stable for 10 years. But then, my daughter can the house hit another house.

My car insurance keeps going up but I try to keep it the same amount.
I keep raising my deductible limit.

 

[Fernando]

I have two properties still having issues with insurance.
Apparently, I heard CA has lot of homes not renewed and owners are forced to go to FAIR, a state program which is significantly more expensive and is last resort.
Many insurance companies have gotten out of CA.
With lack of insurance insurers, CA at mercy of nonrenewals and big premium increases.
In terms of insurance hikes and problems, CA is ranked #4.
Florida is #1 followed by Louisiana and North Carolina.

 

[Tom D]

State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for homeowners from state officials on Monday, citing a “dire” financial situation after destructive Los Angeles wildfires last month.

In a letter to California’s Commissioner of Insurance, Ricardo Lara, State Farm said it has already received more than 8,700 claims and paid over $1 billion to customers in the wake of the wildfires.

Government red tape means it could take up to 18 months to clear the ash and debris from the charred remains of homes that were burned in the Los Angeles wildfires.

 

[Mark K]

State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for homeowners from state officials on Monday, citing a “dire” financial situation after destructive Los Angeles wildfires last month.

I'm sure there's a lot of whining about the increases but, like in FL, they better get used to them. Wildfires/earthquakes vs. Hurricanes. They need to increase the premiums to reflect the cost of living in high risk areas.

 

[Fernando]

State Farm has asked CA for an emergency increase of 22% on premiums for homeowners because of fire.
For condos, avg increase 15%.
For rentals, avg increase 38%. WTF. Landlord discrimination.
Though I have to admit for past several years, State Farm was nicest among other insurers not increasing that much on my insurance.