California Wildfires

[Allen]

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[Oyaji]

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[Allen]

If any of you have a travel trailer or RV you want to sell now would be a good time if you can take it to CA. I believe these are going to be very sought after if people can find a place to park them.

Those who lost their homes, can't change jobs or move may be in for a long wait till they can re-build. Regulations may/should change, waits for permits, etc. With all the homes being rebuilt and repaired already in FL, AL, TN, SC and NC due to the past hurricanes building supplies and licensed builders will be scarce.

More homeless for CA.

[JohnMOhio]

The latest info I heard regarding the insurance companies that pulled out of Cal. The state denied them the premium rate increase. Also I might add, each states insurance rates are dependent upon the losses within that state. Losses in California do not reflect the price of coverage in Kansas or any other state. Note that within their rate structure, included is the prevailing cost of materials and labor costs. I am sure your local rates are not as high as the coastal cities if you live for instance middle USA when it comes to hurricanes. However, you do have a risk of a Tornado. Equal amount of damage, not likely. Just some things to ponder as you see your insurance bill each month or yearly renewal if you pay it annually.

[Allen]

Another way of raising rates is to disguise it in the form of reduced coverage and denied claims as I mentioned here in the past from my own experiences. As far as raising everyone's rates across the board the ins companies use the liberal term of "climate change" instead of preventable measures and politics as being the real problems thus they raise everyone's rates.

https://www.marketwatch.com/story/extreme-weather-like-california-wildfires-has-increased-homeowner-insurance-costs-now-we-know-how-much-extra-theyre-paying-f6f06385?mod=djem_mwnpfinance

[JohnMOhio]

Please remember that the insurance policy you purchase is a Contract. If a coverage is denied, it is because it was not in the policy. It could have been by endorsement. I ask each of you, when was the last time or any time that you read your policy along with any endorsements. If you had questions, did your agent give you an answer that you understood. Did you change insurance companies or agents to get a lower premium? In most instances if the premium was lower, you lost some coverage or coverages. READ YOUR POLICY. ASK QUESTIONS. Your agent is supposed to work for you. A good agent will tell you what you need to hear, not what you want to hear.