Increase in insurance

[Tom D]

wha wha wha. Insurance burning a hole in your pocket, huh.

The Wolf Fire ignited on Sunday in Riverside County and quickly grew to become the largest wildfire currently burning in California. As of the most recent update from the California Department of Forestry and Fire Protection (Cal Fire), the fire was 1,400 acres in size and 0 percent contained.

 

[Mark K]

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Insurance commissioner Ricardo Lara on Friday said his approval was subject to State Farm justifying its need for the steep price rise, at a public hearing on April 8. He also called on the insurer’s Californian unit to halt nonrenewals and to seek a $500 million cash injection from its national parent, which has a surplus of well over $100 billion.

​

In other words, they want the rest of the country to subsidize the residents of CA and their poor decision to live in a fire/earthquake prone region.

CA and FL were living off of subsidies from the rest of the US. FL insurance companies are finally charging insurance premiums that reflect the actual risk of living in hurricane alley. Its time that californians start paying their own way for the risk of living in their 'paradise'.

As far as other premiums across the country....the premiums have increased due to the increase in property values and the increase in the cost of materials to rebuild.

I have State Farm; have had for 50 years. Paid $60K for this house in 1981 and premium was $600. Today its worth about $600K and the premium is only $1,500 and that includes additional riders for jewelry and firearms. I feel pretty lucky.

 

[Fernando]

In other words, they want the rest of the country to subsidize the residents of CA and their poor decision to live in a fire/earthquake prone region.

CA and FL were living off of subsidies from the rest of the US. FL insurance companies are finally charging insurance premiums that reflect the actual risk of living in hurricane alley. Its time that californians start paying their own way for the risk of living in their 'paradise'.

As far as other premiums across the country....the premiums have increased due to the increase in property values and the increase in the cost of materials to rebuild.

I have State Farm; have had for 50 years. Paid $60K for this house in 1981 and premium was $600. Today its worth about $600K and the premium is only $1,500 and that includes additional riders for jewelry and firearms. I feel pretty lucky.

I'm paying about same premium as you except my house is worth more.
I must be underinsured.

 

[Fernando]

I just paid my rental condo insurance. It increased 26% from last year. WTF.
And my other condo's HOA increased 19% last month. Not even a letter forewarning me of this increase.
Renters are lucky they don't have to deal with these double digit increases.

 

[Tom D]

Home insurance has been pretty steady for a long time here big city.

However, living in the ghetto, my car insurance has gone up a bit in the last few years.

 

[Zoe]

Delete wrong thread.

I have heard health insurance is going up for people on affordable care act as well as people losing medicaid.

Fernando has plenty of money. He needs to shop insurance companies.

 

[Zoe]

All these natural disasters probably have a huge bearing in insurance prices increasing.

 

[Surf Cat]

Fernando has plenty of money. He needs to shop insurance companies.

And electricians, and plumbers, and roofers, and maintenance repair types.

Based on past commentary, Fernando is being pennywise and dollar stupid.

 

[Fernando]

And electricians, and plumbers, and roofers, and maintenance repair types.

Based on past commentary, Fernando is being pennywise and dollar stupid.

Early this week, I squeezed all the skin cream out of this tube (like squeezing last drop from a toothpaste).
I felt like I broke my thumb because it hurt a lot 3 days ago. It was hard to lift weights in the gym. Didn't realize my thumb was that important.
Past several days, my thumb hurted when I posted. Slow me down.
It still hurts a bit.
Next time I won't be so cheap in squeezing 100% out of the tube......just 95%.

 

[Fernando]

I got notice from my insurance broker who said my rental wouldn't be insured by existing company.
She got me a quote today.
It's 377% higher than last premium. WTF!