BREAKING : God Bless Los Angeles County! Wildfires 🔥 🔥 🔥 Going Brazy 😳😳😳

charknicks

All Star
Joined
May 6, 2012
Messages
4,861
Reputation
355
Daps
10,352
Florida getting most of the attention, but companies are now are either no-longer accepting new customers or pulling out of California; there is just less media coverage because Hurricanes are more sudden, and cause more fear in the Media.

Devils Advocate: Insurance is all about risk about something that MIGHT happen. If that MIGHT becomes a LIKELYHOOD, then Insurers will be afraid to underwrite insurance in California because they would be paying out more than taking in premiums.

This. I work in insurance, so I know this is true. Most companies already dont really want to insure in Florida (hurricanes) and California (wildfires). Its gonna get much worse.
 

jerzboy

Superstar
Joined
May 18, 2012
Messages
7,154
Reputation
938
Daps
23,148
Reppin
NULL
Florida getting most of the attention, but companies are now are either no-longer accepting new customers or pulling out of California; there is just less media coverage because Hurricanes are more sudden, and cause more fear in the Media.

Devils Advocate: Insurance is all about risk about something that MIGHT happen. If that MIGHT becomes a LIKELYHOOD, then Insurers will be afraid to underwrite insurance in California because they would be paying out more than taking in premiums.
I wonder now if a new company will come along and only handle fire insurance. I know those premiums will be crazy, but I also wonder how much residents will be willing to pay. Most of the hill communities have money, but I wonder at what cost they are willing to pay. I can’t even fathom the cost of damage from the fires
 

MushroomX

Packers Stockholder
Supporter
Joined
Aug 17, 2013
Messages
27,267
Reputation
9,079
Daps
115,226
Reppin
Wisconsin
I wonder now if a new company will come along and only handle fire insurance. I know those premiums will be crazy, but I also wonder how much residents will be willing to pay. Most of the hill communities have money, but I wonder at what cost they are willing to pay. I can’t even fathom the cost of damage from the fires

It's possible, but even then it still boils down to a insurance company, from their perspective, risk losing money over an area that within the next 10-20 years will have a wildfire... if that becomes 1-5 years, even a specialty insurance wouldn't last that long in the market.

Florida is somewhat different, most Homeowners Insurance policies will cover Storm-based damage (Wind/Hail) but in Hurricanes most damage is actually from Storm Surge (Flood) and that's how Insurance companies fukk you over legally, and why Florida has Hurricane-coverage.

I can imagine in a sense Insurance companies go, "Well the fire was caused by someone on purpose, so that's really a Arson-related Fire. Your insurance covers Fire-starting WITHIN the House. So because it was Arson, you have to take it up with the City, because your insurance policy..." or something of that nature
 

Dreamchaser

All Star
Joined
Jul 17, 2015
Messages
1,169
Reputation
87
Daps
3,704
Reppin
Bay Area
It's possible, but even then it still boils down to a insurance company, from their perspective, risk losing money over an area that within the next 10-20 years will have a wildfire... if that becomes 1-5 years, even a specialty insurance wouldn't last that long in the market.

Florida is somewhat different, most Homeowners Insurance policies will cover Storm-based damage (Wind/Hail) but in Hurricanes most damage is actually from Storm Surge (Flood) and that's how Insurance companies fukk you over legally, and why Florida has Hurricane-coverage.

I can imagine in a sense Insurance companies go, "Well the fire was caused by someone on purpose, so that's really a Arson-related Fire. Your insurance covers Fire-starting WITHIN the House. So because it was Arson, you have to take it up with the City, because your insurance policy..." or something of that nature
Insurance usually covers fires, what's usually not covered is earthquakes and flood. Those are usually endorsement that you have to buy. These homes in palisades are in a high risk areas, so there insurance is mostly expensive. You gotta have replacement cost for home insurance in order to rebuild. The Insurance company will cover the fire regardless of who's at fault.
 

IIVI

Superstar
Joined
Mar 11, 2022
Messages
11,877
Reputation
2,792
Daps
41,222
Reppin
Los Angeles
Elon probably does have people who co-sign the mud thing, SpaceX Engineers know a lot about high-heat protection.

That mud advice isn’t bad, problem is people’s water supply is cut so making mud in those areas is difficult.
 

Poetical Poltergeist

Precise and cold hearted
Joined
May 7, 2012
Messages
37,394
Reputation
5,507
Daps
121,787
Reppin
Mile in the Sky
Elon probably does have people who co-sign the mud thing, SpaceX Engineers know a lot about high-heat protection.

That mud advice isn’t bad, problem is people’s water supply is cut so making mud in those areas is difficult.
Yeah the mud advice would maybe help if you had a heavy duty mud shooter and could cover your home in it. Imagine how long it would take to cover your property in mud bruhs lmao
 
Top