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Where does it say taxpayers are underwriting the state's home insurances? And how would that be different from literally any other insurance company ever? Who d
by basil-rash 2y ago
Where does it say taxpayers are underwriting the state's home insurances? And how would that be different from literally any other insurance company ever? Who do you think insurance premiums are paid by?
- lazide 2y agoCalifornia has a last resort insurer where the insurance funds are backed by the state - aka the taxpayer. And you are still paying for insurance, supposedly based on your comment correct? So what do you think is going on, if your rates went down despite being in a higher risk category?
- basil-rash 2y agoInsurance companies have stopped scamming us by charging premiums for services that would have never actually been rendered, as I have already stated.
- lazide 2y agoSince the actual set of coverages are set by law, and heavily regulated what you are saying makes no sense. Or are you saying you signed up for insurance that doesn’t cover fire disasters in these now discovered high risk fire zones? Because if so, yikes. Because you’re on the hook now. You might as well have signed something on your health insurance saying you don’t need coverage if you get cancer. Insurance companies definitely paid out during prior disasters for insureds, which is why the insurance companies took such heavy losses. Over $12 billion in California in 2018 alone. [https://www.insurance.ca.gov/0400-news/0100-press-releases/2019/release041-19.cfm https://www.insurance.ca.gov/0400-news/0100-press-releases/2...] So if you voluntarily aren’t getting fire damage coverage in a high risk fire zone? Yikes. If you somehow are believing that the insurance company would never have paid you if it happens, but they’ll charge you less if you don’t get the coverage? I have no words.