Are leftist policies to blame for the insurance crisis in California?

Factfinder

You can blame 'leftists' if you want but insurance companies were pulling out of California anyway because of past fires. Their policies no doubt encouraged the exodus when they set limits on rates but either way insurances companies were losing there butts off insuring California homes for a long time. The firestorms several years ago as well as devastating fires that have come in the past always brought attention to the fire insurance end of homeowner's insurance.

The problem is humans built expensive homes on natural tender boxes that ignite periodically with or without human involvement. And there's no way to insure them and expect to depend on profits unless houses in high fire areas are allowed to be charged appropriately. Otherwise they still won't be insured cause all companies work on a for profit basis and won't take a loss on purpose. Granted that would mean some folks who were living beyond their means to live there wouldn't be able to live there. But why build there when there are better foundations for wit to build a house?

just_sayin

Factfinder said:

You can blame 'leftists' if you want but insurance companies were pulling out of California anyway because of past fires. Their policies no doubt encouraged the exodus when they set limits on rates but either way insurances companies were losing there butts off insuring California homes for a long time. The firestorms several years ago as well as devastating fires that have come in the past always brought attention to the fire insurance end of homeowner's insurance.

The problem is humans built expensive homes on natural tender boxes that ignite periodically with or without human involvement. And there's no way to insure them and expect to depend on profits unless houses in high fire areas are allowed to be charged appropriately. Otherwise they still won't be insured cause all companies work on a for profit basis and won't take a loss on purpose. Granted that would mean some folks who were living beyond their means to live there wouldn't be able to live there. But why build there when there are better foundations for wit to build a house?

The insurance companies are pulling out because of restrictions on what they can charge.  The risk is just too great for them.  Businesses exist to make money.  Its economics 101.  California failed to understand that, and now guys in Idaho will end up paying for millionaires who lost their mansions in the California fires.

Factfinder

just_sayin said:

Factfinder said:

You can blame 'leftists' if you want but insurance companies were pulling out of California anyway because of past fires. Their policies no doubt encouraged the exodus when they set limits on rates but either way insurances companies were losing there butts off insuring California homes for a long time. The firestorms several years ago as well as devastating fires that have come in the past always brought attention to the fire insurance end of homeowner's insurance.

The problem is humans built expensive homes on natural tender boxes that ignite periodically with or without human involvement. And there's no way to insure them and expect to depend on profits unless houses in high fire areas are allowed to be charged appropriately. Otherwise they still won't be insured cause all companies work on a for profit basis and won't take a loss on purpose. Granted that would mean some folks who were living beyond their means to live there wouldn't be able to live there. But why build there when there are better foundations for wit to build a house?

The insurance companies are pulling out because of restrictions on what they can charge.  The risk is just too great for them.  Businesses exist to make money.  Its economics 101.  California failed to understand that, and now guys in Idaho will end up paying for millionaires who lost their mansions in the California fires.

Pretty much what I said though it's not just the movie stars that lost their homes. What "guys in Idaho" will end up paying for burned mansions in California? You must know something I don't?