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> Are you lucky enough to be in a place where insurers in California are still operating? California has had a state fire insurer (FAIR) of last resort for ove

> Are you lucky enough to be in a place where insurers in California are still operating? California has had a state fire insurer (FAIR) of last resort for over fifty years and fire insurance is practically mandatory for mortgages so there aren’t many places that are excluded. It’s entirely funded by premiums and has never been bailed out by state or federal funds. It’s not like the National Insurance Flood Program that’s burned billions of dollars in federal funding to subsidize people living in flood plains and Florida.

aaronbrethorst 2y ago
[flagged]
- infecto 2y ago
  > FTFY: subsidize people living in red states Please leave politics out of this discussion, it's immature.
  - Yeul 2y ago
    Lol tell that to Trump.
    - aaronbrethorst 2y ago
      yep precisely: https://talkingpointsmemo.com/news/trump-and-his-allies-follow-well-worn-playbook-to-gloat-over-devastating-la-wildfires https://talkingpointsmemo.com/news/trump-and-his-allies-foll...
      - infecto 2y ago
        And those comments are as distasteful as yours.
        deleted 2y ago
        [deleted]
        aaronbrethorst 2y ago
        I recommend doing some careful consideration about how intrinsically tied up politics are to every facet of our lives. You may find this distasteful, but choosing to ignore it merely blinds you to the way that power works in the United States.
        infecto 2y ago
        I recommend realizing how crass your comments are. You won’t though which is fine by, there will always be a population on each side that is blinded by their own ideology. Discussion is valuable, finger pointing is cheap and is a lame method that both sides on the fringes use. There is a reason your comment is below 0.
bushbaba 2y ago
Mortgage firms demand Home insurance policies which it covers some fires, but not all fires. E.g. if there’s an earthquake and it causes a natural gas fire, you’re not covered by home insurance. Same goes for if there’s a flood and it causes a fire, not covered. I suspect long term fire insurance due to wildfire will not be covered by home insurance policies. As it’s not a “random” event, and instead a risk of certain areas.
- tiahura 2y ago
  Your statement is not entirely accurate. Under the insuring agreement of a typical homeowner’s insurance policy, fire—including wildfire—is a covered peril, unless specifically excluded elsewhere in the policy. Standard policies are designed to provide coverage for direct physical loss or damage caused by fire, regardless of whether the fire is “random” or arises in wildfire-prone areas. While some exclusions may apply to fires caused by excluded perils (e.g., floods or earthquakes) or to contributory factors like neglect, wildfires are generally not excluded in standard homeowner’s insurance policies.
  - bushbaba 2y ago
    And the policies could in the future explicitly not include wildfire risk
- trogdor 2y ago
  > I suspect long term fire insurance due to wildfire will not be covered by home insurance policies. As it’s not a “random” event, and instead a risk of certain areas. Insurance companies cover known risks all the time. The greater the risk, the higher the premiums. As long as insurance companies are permitted to accurately and fully price the risk into premiums, anything is insurable — at least in concept.
culi 2y ago
TIL! Thanks for the info. I didn't know there was an actually functioning state fire insurance plan. I guess all those news articles about insurers pulling out of California is political propaganda I fell for :/ Here's a link if anyone's interested https://www.insurance.ca.gov/01-consumers/200-wrr/California-FAIR-Plan.cfm https://www.insurance.ca.gov/01-consumers/200-wrr/California...
- throwup238 2y ago
  That propaganda isn’t entirely wrong. There’s a regulatory agency in California that controls insurance premiums and they’ve kept the insurers from raising rates to account for the real risks so insurers have been pulling out. CalFAIR is still available for everyone so it’s not a total shit show but with over 10k structures destroyed so far, we’ll see whether the state has to bail the program out.

aaronbrethorst 2y ago

[flagged]

infecto 2y ago
> FTFY: subsidize people living in red states Please leave politics out of this discussion, it's immature.
- Yeul 2y ago
  Lol tell that to Trump.
  - aaronbrethorst 2y ago
    yep precisely: https://talkingpointsmemo.com/news/trump-and-his-allies-follow-well-worn-playbook-to-gloat-over-devastating-la-wildfires https://talkingpointsmemo.com/news/trump-and-his-allies-foll...
    - infecto 2y ago
      And those comments are as distasteful as yours.
      - deleted 2y ago
        [deleted]
      - aaronbrethorst 2y ago
        I recommend doing some careful consideration about how intrinsically tied up politics are to every facet of our lives. You may find this distasteful, but choosing to ignore it merely blinds you to the way that power works in the United States.
        infecto 2y ago
        I recommend realizing how crass your comments are. You won’t though which is fine by, there will always be a population on each side that is blinded by their own ideology. Discussion is valuable, finger pointing is cheap and is a lame method that both sides on the fringes use. There is a reason your comment is below 0.

bushbaba 2y ago

Mortgage firms demand Home insurance policies which it covers some fires, but not all fires. E.g. if there’s an earthquake and it causes a natural gas fire, you’re not covered by home insurance. Same goes for if there’s a flood and it causes a fire, not covered. I suspect long term fire insurance due to wildfire will not be covered by home insurance policies. As it’s not a “random” event, and instead a risk of certain areas.

tiahura 2y ago
Your statement is not entirely accurate. Under the insuring agreement of a typical homeowner’s insurance policy, fire—including wildfire—is a covered peril, unless specifically excluded elsewhere in the policy. Standard policies are designed to provide coverage for direct physical loss or damage caused by fire, regardless of whether the fire is “random” or arises in wildfire-prone areas. While some exclusions may apply to fires caused by excluded perils (e.g., floods or earthquakes) or to contributory factors like neglect, wildfires are generally not excluded in standard homeowner’s insurance policies.
- bushbaba 2y ago
  And the policies could in the future explicitly not include wildfire risk
trogdor 2y ago
> I suspect long term fire insurance due to wildfire will not be covered by home insurance policies. As it’s not a “random” event, and instead a risk of certain areas. Insurance companies cover known risks all the time. The greater the risk, the higher the premiums. As long as insurance companies are permitted to accurately and fully price the risk into premiums, anything is insurable — at least in concept.

culi 2y ago

TIL! Thanks for the info. I didn't know there was an actually functioning state fire insurance plan. I guess all those news articles about insurers pulling out of California is political propaganda I fell for :/ Here's a link if anyone's interested https://www.insurance.ca.gov/01-consumers/200-wrr/California-FAIR-Plan.cfm https://www.insurance.ca.gov/01-consumers/200-wrr/California...

throwup238 2y ago
That propaganda isn’t entirely wrong. There’s a regulatory agency in California that controls insurance premiums and they’ve kept the insurers from raising rates to account for the real risks so insurers have been pulling out. CalFAIR is still available for everyone so it’s not a total shit show but with over 10k structures destroyed so far, we’ll see whether the state has to bail the program out.