Quote:
Originally Posted by Tobra
Since when, just the last few years here. The restrictions California placed on insurance companies chased many of them out of the state. The ones left raised their rates, supply and demand. They are going to make it worse by compelling them to write for policies in wildfire areas if they are going to write policies at all.
All while doing less than nothing regarding wildfire risk, mitigation and preparation.
Maybe they don't want anyone to write liability insurance policies except the state.
House prices in California probably need to tank hard.
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I think insurance rates in high risk areas will go up a LOT. There is a price, at which it makes sense to insure in wildfire areas. The insurers will charge that price, and if the state won’t let them, then the insurance market will collapse and hit the housing market.