State Farm, what the fuck.. State Farm Threatens to Abandon California If They Can't Raise Prices: 52% For Renters, 30% For Homeowners.

[easy_b]

State Farm Threatens to Abandon California If They Can't Raise Prices: 52% For Renters, 30% For Homeowners​

State Farm Threatens to Abandon California If They Can't Raise Prices: 52% For Renters, 30% For Homeowners

High inflation and rising California fires have led State Farm to propose homeowners insurance rate hikes. At the same time, many insurers remain hesitant to return to the state due to rapid climate change.

www.ibtimes.co.uk

 

[THREAD_CRITIC]

Seems like a bad business move to leave the most populated state 5th largest economy in the world

 

[MemphisNigga]

State Farm Increased Rates by 20% in March​

The state's Insurance Department had previously greenlit multiple State Farm proposals that increased California citizens' home insurance rates by 20%. These decisions usually hint that an insurance provider is facing challenges, but the company's 2023 net income jumped over 100% year-over-year to $1.2 billion.

Greedy Bastards......

 

[easy_b]

Seems like a bad business move to leave the most populated state 5th largest economy in the world

Yep, and also a lot of places in this country is becoming unstable with climate change. Tornado alley is expanding, you have rise and seas on the East Coast and the Gulf of Mexico (and it’s rising fast). You have wildfires and flooding every fucking where. Oh and finally, you have category one hurricanes pretending to be a category 4 hurricane due to climate change. State Farm cannot run away from disasters

 

[Coldchi]

California bout to be the new Florida

 

[Lexx Diamond]

Fuck em. Let them leave. Others will fill their space.

 

[blackbull1970]

Fuck the Insurance Industry.

It’s one of the biggest legal rackets in the country.

I filed two claims over the past 2 years on my home and got a threat letter from State Farm earlier this year, that if I make another claim they will discontinue my insurance thru them.

I been in my house for 20 years and only made 2 claims.

Soaring insurance costs are making more homeowners go without it​

USA TODAY
June 3, 2024

Soaring insurance costs are making more homeowners go without it

A recent study from the Insurance Information Institute found 12% of Americans no longer have home insurance, up from 5% in 2019.

www.usatoday.com

 

[easy_b]

California bout to be the new Florida

Everywhere along the coast is about to be the new Florida hell even a lot of states inland because of tornadoes and flooding

 

[meilmarc]

State Farm and Allstate are pretty much not writing new home owners policies in the Houston area

 

[easy_b]

State Farm and Allstate are pretty much not writing new home owners policies in the Houston area

Yep and politicians of the state government of Texas really screwed Houston. Houston is basically a moderate black city in a democratic city. The same thing fucking happened in Florida with the state government. These poor middle-class white people don’t understand that the people who they are voting for is fucking them over. Black people well already know those Republicans are no good.

 

[blackbull1970]

State Farm and Allstate are pretty much not writing new home owners policies in the Houston area

And they jacking up the rates in other states to make up the loss.

Similar to Federal Taxes.

The Blue States pay the highest taxes and the Red States with no taxes suck up the most Federal Funding.

 

[THREAD_CRITIC]

Fuck em. Let them leave. Others will fill their space.

That’s what I thought when these companies started leaving Florida but there aren’t other companies coming in, and ones remaining are just raising prices cuz there aren’t many other options

 

[easy_b]

And they jacking up the rates in other states to make up the loss.

Similar to Federal Taxes.

The Blue States pay the highest taxes and the Red States with no taxes suck up the most Federal Funding.

Red states for the last few years are getting hit hard from flooding to tornadoes and wildfires. And a few red states that all along the coast are getting flooded from sea level rise. I do agree with you that the blue states pay the highest because the population is larger, but at the same time some of these red states was getting away with murder, but now karma is knocking at their door

 

[easy_b]

That’s what I thought when these companies started leaving Florida but there aren’t other companies coming in, and ones remaining are just raising prices cuz there aren’t many other options

I just seen a news report from a south Florida news station staying there a lot of people are just ditching their home insurance. I understand them, but this is extremely dangerous especially with the climate change that is going on at these strange hurricanes

 

[sinistercane]

Florida’s storm seasons made USAA and Nationwide tapped out and hauled ass from the state

 

[praetor]

 

[catdaddy]

Florida’s storm seasons made USAA and Nationwide tapped out and hauled ass from the state

My shit went up 40% last year with USAA.

 

[easy_b]

The federal government may have to step in with this insurance crisis, but you have to have the right people in House of Representatives and the senate. People in November vote for Democrats up and down your ballot.

 

[sinistercane]

My shit went up 40% last year with USAA.

As a military veteran and as a property adjuster, I can honestly tell you there’s nothing special about USAA that no different than the rest

 

[sinistercane]

My shit went up 40% last year with USAA.

Check your messages

 

[Lexx Diamond]

Florida’s storm seasons made USAA and Nationwide tapped out and hauled ass from the state

My brother lived in Tampa for more than 20 years got tired of rising cost of living and moved to Louisiana. He said he's not paying the ridiculous insurance costs to be swimming in spics. Now he's surrounded by Black people and he loves it. He says the roads are shitty compared to Florida. But it's worth it.

 

[easy_b]

My brother lived in Tampa for more than 20 years got tired of rising cost of living and moved to Louisiana. He said he's not paying the ridiculous insurance costs to be swimming in spics. Now he's surrounded by Black people and he loves it. He says the roads are shitty compared to Florida. But it's worth it.

Louisiana is not too far behind because of their dumb ass governor so tell your brother not to get too comfortable.

 

[TIMEISMONEY]

A lot of them bitches left Florida a few years ago. It’s all about profits, once they start to spend, it’s a wrap

 

[RoomService]

Let them leave.

 

[Hey Julian!]

Seems like a bad business move to leave the most populated state 5th largest economy in the world

It is it's scare tactics. They don't have to move out of the state they can simply not insure in specific areas after the policy term.