PieFedThe California fires could scorch the state's broken insurance market
submitted by
jeffw@lemmy.world
jeffw@lemmy.world
www.motherjones.com/environment/2025/01/the-cal…
Global Warming is getting to the point where the US government will probably need to step in as insurers start going under. This is pretty fucking scary considering it's Trump and he's likely going to fuck over California home owners out of spite.
I hope those affected by the fire carefully consider global warming when choosing where and how to rebuild.
With tariffs and deporting labor, I'm not sure if many will be able to afford rebuilding.
Nope, just let every single insurance company go under.
No bailouts, no assistance, just kill the entire insurance industry please.
With nothing to replace it, you're just advocating for fucking over everyone.
Home insurers aren't going under. They are simply going to leave California.
Isn't that what they did Florida? At this pace, they'll run out of states to leave soon enough...
CA keeps all the small, controllable forest fires from happening, ensuring flammable material builds up in our forests. Then we get a mega fire that cannot be stopped which tears through everything. CA's forest management policies have been fucked for decades.-
There’s no such thing as a small controlled fire alongside a hill that homes have been built into.
There’s no way back from this other than not rebuilding those areas so they can be maintained.
Additionally, with winds up to 100mph and humidity below 20%, you can barely keep homes from burning, much less any sort of vegetation.
But don’t worry, we’ll all be slinging the same mud again next season when hurricanes wipe out some coastal populations.
Yup. 10 years ago controlled burns would have helped.
Now it's too late.
More like 50+ years before they were built up.
Slap some tariffs on it and I am sure it will all work out.
+sure
dropped a word
Thanks!
So why do they offer insurance in California at all?
The insurance companies are starting to wonder that themselves.
Most of them are leaving. I think the ones remaining rely on bundling with other insurance or services.
They will have to charge more. Get ready for the 10+% rate increase next year if you live in CA.
10% is low. Look for 50-100%, or worse.
my car insurance just went up 28% in CA and my rent has gone up 26% in 2 years
Lots of my coworkers in CA just had their insurance rates go up 300%. Expect another couple hundred
Are these losses artificial? Is it because of huge raises at the top and irresponsible stock buybacks? It's how my local utility company is justifying another huge price increase this year.
Change it's name to "America's Warning" and maybe it will fix itself