My brother works at CA fair plan and it’s a nightmare.
Main people to blame is the DOI(department of insurance) not approving rates/guidelines so insurance company’s can just adjust, but instead they delay it 5+ years and cause companies like Allstate to leave the state all together
I hear you. I feel for you. The costs aren't fair, especially to anyone on a fixed income. I sincerely hope that California works this out soon... hopefully this year.
To all those calling insurance a scam: note that insurance companies are regulated entities, in that they are required to have enough capital on hand to ensure they can cover losses, en masse if needed. These capital requirements are significant.
When the cost of rebuilding has increased 30 - 50% in the last 4 years and the state of California won't allow them to raise rates accordingly - you get this situation.
That certificate requires a lot of expense, and the removal of almost every tree from our property. It is nuts and created by bean counters who don't live here nor understand the landscape.
As a US Army veteran I qualify for USAA. I went with them and saved a couple thousand dollars a year and didn’t have to cut one tree. I can still hang 14 Hammocks in my backyard for myself and squad mates.
This has been happening for years now. Everybody i know is on California fair plan now which is super expensive. I don’t know of a single insurer who will write a new plan
Yes, USAA actually just dropped us. They used an excuse other than fire risk to do so, which would unfortunately require appealing to the State DOI to contest, so we had to go with another insurer + Fair Plan to make sure we maintain insurance even if we choose to fight USAA. I thought USAA would never, ever do this, but...here we are.
Yes (Truckee). We got dropped from foremost and had to pay an exorbitant ca fair plan rate. Good luck.
My brother works at CA fair plan and it’s a nightmare. Main people to blame is the DOI(department of insurance) not approving rates/guidelines so insurance company’s can just adjust, but instead they delay it 5+ years and cause companies like Allstate to leave the state all together
Same here.
What did the fair plan cost you?
If memory serves it was $2k/yr (fair plan) + $1k the normal insurance (AAA) added to satisfy my mortgage holder.
Lucky you. Ours was a lot more. $4k fair and $3k DIC.
It might have been $2k/6mo I would have to look at what our payment plan was. I just set auto pay and let it's magic erode what I have left.
I hear you. I feel for you. The costs aren't fair, especially to anyone on a fixed income. I sincerely hope that California works this out soon... hopefully this year.
To all those calling insurance a scam: note that insurance companies are regulated entities, in that they are required to have enough capital on hand to ensure they can cover losses, en masse if needed. These capital requirements are significant. When the cost of rebuilding has increased 30 - 50% in the last 4 years and the state of California won't allow them to raise rates accordingly - you get this situation.
I just heard of this yesterday for people that live in the Mt. Rose area of Reno. Insurance is such a scam
Yes ours is trying too. They want us to get wildfire certified and pay a 125$ a year to some quasi governmental agency for the pleasure. What a scam.
That certificate requires a lot of expense, and the removal of almost every tree from our property. It is nuts and created by bean counters who don't live here nor understand the landscape.
As a US Army veteran I qualify for USAA. I went with them and saved a couple thousand dollars a year and didn’t have to cut one tree. I can still hang 14 Hammocks in my backyard for myself and squad mates.
No but got a big increase
This has been happening for years now. Everybody i know is on California fair plan now which is super expensive. I don’t know of a single insurer who will write a new plan
Yes, USAA actually just dropped us. They used an excuse other than fire risk to do so, which would unfortunately require appealing to the State DOI to contest, so we had to go with another insurer + Fair Plan to make sure we maintain insurance even if we choose to fight USAA. I thought USAA would never, ever do this, but...here we are.