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Is there something CA is doing the lump all of CA and not just the people in the high risk zones? I mean a lot of east coast states have roughly similar flood/
by w-ll 3y ago
Is there something CA is doing the lump all of CA and not just the people in the high risk zones? I mean a lot of east coast states have roughly similar flood/hurricane issues on the coast or flood plain areas right? And they pay out and let them rebuild in the same area? Forgive my ignorance on it.
- Rebelgecko 3y ago3 things that might be contributing: Insurance companies are allowed to charge more for people in high risk areas, but there's a cap that probably doesn't scale with the actual risk level Insurance companies aren't allowed to pass on the costs when their reinsurance costs go up For a while there was a moratorium on dropping policies for homes in high risk areas