Wednesday, September 06, 2023
How can insurance in California be reformed?
SACRAMENTO, Calif. (KGO) -- California insurance companies are underwriting fewer policies and even leaving the state. But why are these companies pulling back? The industry says it is because they can't make money. Consumer activists say it is all a scheme to press lawmakers into deregulating the industry.
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So let me get this straight...they believe EVERY insurance company is in collusion with each other to drive up prices instead of one or two of them taking advantage of a lucrative opportunity to have a near monopoly as the only option, instead of seeing that there is no profit-making potential in the current situation? Huh.
ReplyDeleteReforms within a system built by lunatics will not be successful.
ReplyDeleteMy father's homeowner's insurance increased 67% this year. (In California)
ReplyDeleteThere is far too much incentive to sue in Commiefornia. When half the lawyers are working at drive-up windows, businesses will stay, prices will fall, competition will increase.
ReplyDeleteDream on. Lawyers run California. Always have.
DeleteNuke it from orbit. It is the only way to be sure.
ReplyDeletehttps://www.youtube.com/watch?v=aCbfMkh940Q
DeleteI live in California. I've lived in California for 72 years. I own my home, paid for in '95, and have been without insurance for three years now.
ReplyDeleteThe only way I could sell my home would be to sell it to a cash buyer who also chose to not insure this place. This is the real California nightmare you'll not hear about from the media.
Just so you know, we pay a PG&E rate almost five times higher that a friend pays for power in Boise, while were told the ratepayers will not be who pays the price for PG&E's past sins. Our local gas is more than 50% higher than Ken pays in Tennessee. I can't get homeowner's insurance that covers wildfire loss and if I could it would probably cost at least $10,000 a year. And yet the politicians in Sacramento still paint a completely rosy picture of life here and deny that there is an exodus of people like me leaving the state. They do this while constantly lecturing us (conservatives) that we're wrong and they're right about what our values should be.
I'm not crying the blues here, because I have no choice in leaving for multiple reasons. I'm attempting to tell you that if Gavin Newsom becomes president, my reality will eventually become yours too.
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DeleteI have since fled California, but I remember my home owner's insurance having workman's comp. Required by the state in case a contractor (day laborer) was injured while working on your property.
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