For some US residents, it is now impossible to get home insurance - and all because of the climate crisis...

[Fred Bloggs]

It\'s not just the climate crisis, it\'s also the exorbitant replacement costs for that super overpriced California.

The state insurance bailouts there are pathetic, less than fifty cents on the dollar. That kicks in in cases where the insurers indemnity far exceeds their assets. If they decide to do it for real, residents can expect a significant tax increase.

https://www.theguardian.com/commentisfree/2023/may/31/for-some-us-residents-it-is-now-impossible-to-get-home-insurance-and-all-because-of-the-climate-crisis

 

[John Larkin]

On Wed, 31 May 2023 08:10:06 -0700 (PDT), Fred Bloggs
<bloggs.fredbloggs.fred@gmail.com> wrote:

>It\'s not just the climate crisis, it\'s also the exorbitant replacement costs for that super overpriced California.

You may elect to live somewhere cheaper. Your choice, Rockford or
Monaco.

The state insurance bailouts there are pathetic, less than fifty cents on the dollar. That kicks in in cases where the insurers indemnity far exceeds their assets. If they decide to do it for real, residents can expect a significant tax increase.

https://www.theguardian.com/commentisfree/2023/may/31/for-some-us-residents-it-is-now-impossible-to-get-home-insurance-and-all-because-of-the-climate-crisis

The Guardian likes to shriek. There are lots of insurance companies.

Sure, if you build a house in a forest, fire insurance will cost more.

 

[Fred Bloggs]

On Wednesday, May 31, 2023 at 12:18:02 PM UTC-4, John Larkin wrote:

On Wed, 31 May 2023 08:10:06 -0700 (PDT), Fred Bloggs
bloggs.fred...@gmail.com> wrote:

It\'s not just the climate crisis, it\'s also the exorbitant replacement costs for that super overpriced California.
You may elect to live somewhere cheaper. Your choice, Rockford or
Monaco.

Property tax is high in Rockford, 2.3%. Might as well live in New Jersey as there.

https://www.wrex.com/news/study-claims-rockford-has-highest-property-tax-rate-amongst-small-metros/article_35dfb26a-c906-11ed-a0bc-332634aa29cc.html

The state insurance bailouts there are pathetic, less than fifty cents on the dollar. That kicks in in cases where the insurers indemnity far exceeds their assets. If they decide to do it for real, residents can expect a significant tax increase.

https://www.theguardian.com/commentisfree/2023/may/31/for-some-us-residents-it-is-now-impossible-to-get-home-insurance-and-all-because-of-the-climate-crisis
The Guardian likes to shriek. There are lots of insurance companies.

Sure, if you build a house in a forest, fire insurance will cost more.

Los Angeles is a forest?

https://www.nbclosangeles.com/investigations/more-homeowners-getting-dropped-by-insurance-companies-due-to-wildfire-risk/3053492/

 

[John Larkin]

On Wed, 31 May 2023 11:05:19 -0700 (PDT), Fred Bloggs
<bloggs.fredbloggs.fred@gmail.com> wrote:

On Wednesday, May 31, 2023 at 12:18:02?PM UTC-4, John Larkin wrote:
On Wed, 31 May 2023 08:10:06 -0700 (PDT), Fred Bloggs
bloggs.fred...@gmail.com> wrote:

It\'s not just the climate crisis, it\'s also the exorbitant replacement costs for that super overpriced California.
You may elect to live somewhere cheaper. Your choice, Rockford or
Monaco.


Property tax is high in Rockford, 2.3%. Might as well live in New Jersey as there.

https://www.wrex.com/news/study-claims-rockford-has-highest-property-tax-rate-amongst-small-metros/article_35dfb26a-c906-11ed-a0bc-332634aa29cc.html


The state insurance bailouts there are pathetic, less than fifty cents on the dollar. That kicks in in cases where the insurers indemnity far exceeds their assets. If they decide to do it for real, residents can expect a significant tax increase.

https://www.theguardian.com/commentisfree/2023/may/31/for-some-us-residents-it-is-now-impossible-to-get-home-insurance-and-all-because-of-the-climate-crisis
The Guardian likes to shriek. There are lots of insurance companies.

Sure, if you build a house in a forest, fire insurance will cost more.

Los Angeles is a forest?

https://www.nbclosangeles.com/investigations/more-homeowners-getting-dropped-by-insurance-companies-due-to-wildfire-risk/3053492/

State Farm has dropped new home insurance policies in all of
California. Might be because of California regulations that prevent
them from being selective re wildfire hazards and mandating discounts.

Mandating markets has effects.

Mandating or subsidizing insurance in hazardous areas, forests or
beaches or flood plains, encourages people to take risks.