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Putting aside the wild idea about your holiday home being more important than victims of war, that sounds like a steal. It would take ~175 years for your premi
by midenginedcoupe 4y ago
Putting aside the wild idea about your holiday home being more important than victims of war, that sounds like a steal.
It would take ~175 years for your premiums to add up to $350k, so the insurance co is betting that your house is only likely to burn to the ground less frequently than once per 175 years. Given you've said there were three fires nearby this year, and we know that fires aren't going to become _less_ frequent over the coming decades, that's not a bet I'd be willing to take. $2k premiums don't sound sustainable to me.
- MikePlacid 4y agoThere are 200,000 homes insured by CalFAIR plan, meaning they are in a fire prone region, “expected to burn” with some frequency. There are 876 structures damaged or destroyed in 2022 fire season in California. So, the real frequency looks like once in 228 years, while I am paying - as you’ve calculated- for once in 175. CalFIRE plan looks solidly in black.
- forgetbook 4y agoThis is the second copy/paste of your single-sample, and yes, the whole of the data is in this case one sample. What are your error bars around n=2?