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September 13, 2023

Comments

David

There was a very good article in CalMatters on this yesterday - see link below. It's obviously a very complex issue and not as much transparency as there needs to be. Personally, I'm not a big fan of Insurance Commissioner Richard Lara, who had some serious credibility issues around political donations the last time he ran for reelection.

https://calmatters.org/politics/2023/09/california-insurance-wildfires/

See also:
https://www.sandiegouniontribune.com/news/watchdog/story/2021-08-11/after-breaking-pledge-and-halting-donations-state-insurance-commissioner-jump-starts-campaign

Joe

Coming to a neighborhood near us--higher rates. Check out the red zone just south of SFO on this Merc map:

https://www.mercurynews.com/2023/09/19/california-tops-femas-new-list-of-areas-vulnerable-to-weather-disasters-what-does-it-mean-for-the-bay-area/?utm_email=945A740F8485348253E6F395EF&lctg=945A740F8485348253E6F395EF&active=yesD&utm_source=listrak&utm_medium=email&utm_term=https%3a%2f%2fwww.mercurynews.com%2f2023%2f09%2f19%2fcalifornia-tops-femas-new-list-of-areas-vulnerable-to-weather-disasters-what-does-it-mean-for-the-bay-area%2f&utm_campaign=bang-mult-nl-morning-report-nl&utm_content=manual

Peter Garrison

PG&E better underground those overhead wires surrounding Mills Canyon pretty quick.

Fugit All

I'll continue to watch with bemusement vs scorn as local property "owners" benefit and seek support from state and federal programs while vetoing any protection at all for their neighbors in rental units (who outnumber them) as a protest against BIG GOV interference. LOL

Phinancier

Landlords getting reasonably priced insurance does benefit renters. That seems obvious to anyone with rental experience. Stuff flows downhill.

Joe

Here's the Orinda ouch from today's Comicle:

A Chronicle analysis of data provided by State Farm to the state Department of Insurance found that 1,700 homeowners in Orinda will lose their State Farm coverage — the most in any ZIP code in the state. The nonrenewals affect about 55% of Orinda homeowners with State Farm policies, the largest percentage in the Bay Area.

Since State Farm insures roughly half of the 7,000 homes in Orinda, that means the company’s nonrenewals will hit close to a quarter of the city’s homeowners. And that comes on top of other insurers that have taken similar actions over the past two years.

On a visit Wednesday to Orinda’s downtown, anchored by the Art Deco Orinda Theatre, it was easy to find people who were affected by the home insurance crisis or had a friend or neighbor who was.

“It’s an issue with the whole city,” resident Shahrooz Haghighi said as he hurried into Peet’s for his morning coffee. “It seems like the insurance companies don’t want to insure people living in a woodsy area anymore.”
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It's easy to imagine this is (or will) be coming to H'borough and the unincorporated parts of B'game "up the hill".

Joe

The big headline says Allstate has gotten approval to raise rates an average of 34%. Some will be higher (one poor soul will see +600%+). Some will be lower.

I went to the Comicle map and 94010 has 361 residences insured by Allstate. Their increase will be 31% upon renewal......

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