Unfortunately, years ago, Americans decided to make their buildings out of flammable materials in the middle of fire hazard areas. No type of insurance or regulations (or lack of regulations) will fix that any time soon.
The average cost of homeowners insurance in the state is $1,250 per year, or about $104 per month. That’s less than the national average of $1,915, according to Nerdwallet. The average cost for a homeowner in the city of Los Angeles is $1,485 a year, or about $124 a month.
I think the cave men were onto something.Unfortunately, years ago, Americans decided to make their buildings out of flammable materials in the middle of fire hazard areas. No type of insurance or regulations (or lack of regulations) will fix that any time soon.
We literally build them out of large firewood sticks lolUnfortunately, years ago, Americans decided to make their buildings out of flammable materials in the middle of fire hazard areas. No type of insurance or regulations (or lack of regulations) will fix that any time soon.
Unfortunately, years ago, Americans decided to make their buildings out of flammable materials in the middle of fire hazard areas. No type of insurance or regulations (or lack of regulations) will fix that any time soon.
Cheap, but short term thinking. Too bad we didn't learn from Europe which knew to build brick and mortar buildings in the middle of a forest.Can you imagine…living in a forested area and using lumber cut from that forested area to build your house?
My $80k house in Nebraska was more than $1250/year to insureYou'd think California would have some high HO insurance rates, but they seem reasonable per LAT reporting earlier today:
Travelers is the latest California insurer to raise rates. How to find coverage in your area
Travelers Insurance is the latest coverage provider that has either increased its rates or limited its policy offering, further straining the availability of policies in California.www.latimes.com
Things could certainly get worse (more expensive) if other more carriers exit the market.
Cheap, but short term thinking. Too bad we didn't learn from Europe which knew to build brick and mortar buildings in the middle of a forest.
Sure…that way, in a massive fire, instead of your house burning to the ground, it turns into an oven…
My $80k house in Nebraska was more than $1250/year to insure
I had a mortgage, I've never been ATOT wealthy.At some-point if you don't have a mortgage it starts to make sense to self insure and go without home insurance.
I did that for about 20 years in this house.At some-point if you don't have a mortgage it starts to make sense to self insure and go without home insurance.
Can't add density to the places people want to live, because something something neighborhood character, so we turned to sprawl instead. The situation is not surprising that insurance companies are not willing to take a bath for all the high risk properties.Unfortunately, years ago, Americans decided to make their buildings out of flammable materials in the middle of fire hazard areas. No type of insurance or regulations (or lack of regulations) will fix that any time soon.
Can't add density to the places people want to live, because something something neighborhood character, so we turned to sprawl instead. The situation is not surprising that insurance companies are not willing to take a bath for all the high risk properties.
You should read up on the fire hazard differences between brick and concrete homes vs lumber. It's not really funny. In a brick and concrete home you get a lot more time to escape, so that's life and death right there. So I'll take your oven any day of the week because it's literally a lot safer.Sure…that way, in a massive fire, instead of your house burning to the ground, it turns into an oven…
Brick and mortar buildings don't do well in an earthquake. They aren't easily insulated, and they suck for getting mechanicals to every room. You pretty much have to use a wood second floor and roof structure unless you have unlimited funds available.Cheap, but short term thinking. Too bad we didn't learn from Europe which knew to build brick and mortar buildings in the middle of a forest.
I am currently with StateFarm for both Auto/Home. I live in a high fire hazard area, just waiting for them to tell me I will not be renewed when my insurance is up for renewal in September. I expect a shitshow the next several years for insurance coverage in CA with so many companies pulling out.
I twitched a bit when I got mail from State Farm last week with a bold "IMPORTANT UPDATE ABOUT YOUR HOMEOWNERS INSURANCE" on the front of it. I know they are ending coverage on homes on canyon lots in my zip but presumed I would be safe. It was just a general safety pamphlet.
Brick and mortar buildings don't do well in an earthquake. They aren't easily insulated, and they suck for getting mechanicals to every room. You pretty much have to use a wood second floor and roof structure unless you have unlimited funds available.
Building wood frame with a fire resistant shell is a little challenging, but absolutely doable.
I am located in East San Diego County and 97 policies are being dropped in my zip. 5% of the State Farm policies in my zip are being dropped. I think I am supposed to get around 60-days notice of non renewal. I expect to get something in the later part of June/July.
It's interesting my dad's place in La Jolla is not in a mapped high hazard area but most insurers bailed anyway. I just paid his renewal and the premium was north of 15K.
- Holy shit balls Batman time to shop a different carrier.
My policy was dropped late last year (Encompass) so I did a bit of shopping and ended up with Travelers for less than my prior.
$4700 Encompass policy to equivalent $3200 Travelers policy.
And I am in a relatively wooded area with a lot of trees (albeit we've never had a fire here).
Finding a carrier who will even agree to insure it is a challenge.
- Just self insure at that point, $15K annual premium I'd rather put the money in a fund and go to church on Sunday.