State Farm insurance won't cover real estate in California anymore

For new homes and new policies. They will continue coverage for existing customers.

Right, R1. Boomers remain covered, younger first-time homeowners are fucked. :)

So why bother with insurance companies

No reason, R3. When the fires burn down my multimillion-dollar two-bedroom bungalow in the hills, I just buy another one! Who has time to wait for the paper pushers at State Farm?

Florida has already list its insurers for that line. That’s why you get coverage through a state-established insurance co.

+lost

[quote] Right, [R1]. Boomers remain covered, younger first-time homeowners are fucked.

You really think Boomers are the only people who own real estate?

That right there is socialism, in Florida!!

They've been trying to leave Louisiana since Katrina. Our state insurance commissioner managed to finesse the situation. So far.

But they do make you jump through 167 hoops to file a claim. Any time I talk to an adjuster, especially the middle aged white males, they make sure to tell us the only reason our home/property are still covered is my Dad and late Mom has been with SF since the mid-late 60s, and are "grandfathered" in. Which is 100% flaming, condescending bullshit.

Louisiana already relies on a state entity to provide backup funding for policyholders from troubled insurers….

Many insurance companies are looking to decrease their exposure in CA on home and auto insurance. A few companies made big changes in 2022. Allstate has a new set of rules designed to decrease new business for auto policies in CA

So does Florida, R10.

R12. Florida is generally different. See upthread. Citizens is a direct insurer.

[quote] You really think Boomers are the only people who own real estate?

Where is the word “only” in the original quote?

Fuck you, Jake!