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“And since there’s still not the ability for people to shop around for other options, what are they going to do but pay that higher rate? But I think that it’s probably going to show pretty quickly that it’s necessary to keep State Farm from literally going insolvent.”
Seems like you conveniently forgot another option here? Seize the fucking company. It belongs to California now.
Well, you're going to piss off the policyholders then. State Farm is a mutual insurance company. It's owned by the policyholders. It's essentially a non-profit, since profits go to reduce premiums or pay dividends to the policyholders.
The thing is, the company isn't turning a profit. When what fills the cup doesn't match the hole in the bottom, at some point the cup will be empty. California has mismanaged the wilderness areas and allowed development without concern for potential fire danger. Climate change, high fuel loads after decades of suppressing natural fires, improperly maintained electrical infrastructure, and a lack of "Fire Wise" education are all contributing to huge wildfires and high property loss rates.
If California were to seize every insurance company in the state, they would quickly be in the same predicament - needing to raise premiums to cover the losses.
The only real solution is to reduce the risk. That's why the NFPA came up with local Fire Safe Councils. We educate the homeowners about how to make our homes resistant to wildfire damage. Using grant money, we reduce the fire danger by clearing hazardous undergrowth. We provide resources for homeowners, like chipping programs, matching funds for tree removal, and other assistance in maintaining defensible space. We have successfully lobbied for insurance discounts when homeowners complete risk reduction measures.
PG&G isn't public, they are not maintaining tree lines, lots of this is their fault.
California already has a state run home insurance company. They are allowed to charge whatever they need to charge to always offer a plan to any homeowner even in high risk areas. Guess what? It's twice as expensive as State farm.
If I had the option of paying State farm 50% more or paying double to go back to CA fair plan, guess which I'd choose.
I have FAIR plan and a homeowners insurance jsut for 1 house. Both together are less than state farm would charge for 1 homeowner policy not needing the fair plan.
You live in a forested area?
Yessir
I'm in the forest. My state farm went down this year surprisingly. Was paying about double for fair plan.
I wonder if it varies by area kinda like car insurance. Down here in San bernardino national forest state farm will not issue new policies for homes since middle of last year if I remember. But they'll keep current and up to date policy holders stay with them. The fair plan as you know is for any fire outside the home (the forest). My fair plan has gone up $10 in the 4 years I've had it. And I've had zero increase on my state farm. Couldn't tell you the exact numbers at the moment as they're in my mortgage payment. I'll check now that we're on the subject
It does vary now! I got something in the mail from state farm saying they are switching from an area type model, where all "forested areas" are the same, to a more specific gps based risk assessment model. That's when my state farm went down actually. Gave me some peace of mind since others in "forested areas" are getting huge increases or just dropped. I'm in the Mendocino coastal redwoods, so very low fire risk compared to most of California, which is pines and oaks. With the beetles killing the pines, and the sudden oak death, it's not an if, but a when all those forests completely burn. Makes perfect sense state farm wants out of there.
Idk. I feel like government is bad a running one company but is good at scaling up.
I’d rather see ca offer a good baseline insurance plan. That or offer fire protection like they do for flood and earthquake.
You are seizing a dead corpes tho
Seems like you conveniently forgot another option here? Seize the fucking company. It belongs to California now.
Assuming the financial report about State Farm's insolvency in California is true, how do you think this will help?
Lets play out your scenario:
What are you advocating for differently than the scenario above? Where is the needed money going to come from to:
Where is that money?
Classic Lemmy.
Finding solutions that don’t involve screwing literally everybody over just to save an irresponsible corporation?
And your complaint is?
That you don't understand the fundamentals of the industry (as described in the other detailed comment), and jumped to knee jerk fixes that are anything but.
I’m not having trouble understanding anything. And lashing out at me because your comment was rejected is just projection.
Grow up and learn how to handle your negative emotions like an adult.
Rejected?
You're the one throwing a tantrum lol
Edit contextually: as described in the other comment, state farm is not a traditional corp as you seem to imagine it, and if the state owned it it would be experiencing the exact same financial issues.
There’s that projection again
It's fine, you didn't understand the details. Learning is tough.
Edit go read lemmyfixdat4u 's comment again, your lack of understanding, and kneejerk response is highlighted in the information there.
There’s that projection again
"someone called me out what will I do? Ah, try the ole rubber/glue technique"
There’s that projection again
"I'm devoid of contextual points and can't defend my position"
Classic lemmy
There’s that projection again
What do you suggest I'm projecting?
The conversation started by me quipping that lemmy is prone to kneejerk anticapitalist reactions without understanding or considering the implications.
I noted the other comment as a great source of info.
You replied that I'm angry? Nah dude, I'm just observing.
You then dropped the context and just went with the schoolyard shit.
So, what am I projecting?
Edit your suggestion that my mere answering your initial reply question is certainly not "lashing out" lol. You just don't seem ready to defend your ideas.
Lol, and you accused me of having trouble understanding…
You then dropped the context and just went with the schoolyard shit.
There’s that projection again
Lol I know you're just fucking around now, but that is not projection. Each of my replies has focused on your position, not some emotion or feeling you think is being transmitted.
That's not projection. You are just using words.
You can’t possibly know my position because I haven’t stated it. I commented on somebody else’s position. Past that, you have assumed my position as contrary to yours mearly to validate your own. It only shows how insecure you are in your own position, regardless of how well reasoned it might be. It’s also why you keep lashing out at me because you think I challenged it, which I didn’t, and because I refused to validate you.
It’s you just projecting (yes, using words). And I keep doing it because I think it’s hilarious. You have absolutely no self-control. I’m curious to see how long you’ll keep replying, subconsciously, begging me for the emotional validation that you must know by now will never come from me.
Lol I'll own that I thought you were the other guy. But you aligned, thus defining position. So my suggestions they the original, and even your original comment are "classic Lemmy" is consistent.
Projection in this context is defined as
the unconscious transfer of one's own desires or emotions to another person.
So what of my replies suggests I'm transferring my emotion onto you?
Disagreeing is not projection. Even doing so vigorously
Edit my "position" is: go learn about the industry and local concerns before saying "a government takeover is the right thing to do". That's not emotional, fuck I'd love state/ federal home insurance, but that's not realistic in this case, or possible.
So what of my replies suggests I'm transferring my emotion onto you?
I’ve explained this to you several times now. It reminds me of this rather salient blog post from several years ago:
I will be returning to my copy/paste replies now. But don’t think I’m not fully enjoying your comments ;)
Is this that "risk" the rich are always talking about
Seems like you conveniently forgot another option here? Seize the fucking company. It belongs to California now.
privatize the gains, socialize the losses! -rich fucks, usually.
Government is always there to bail them out it seems under guise of helping the people
They do it for the hot stock tips.
Of course they fucked renters harder than owners. What a shock.
Have they invested in the fossil fuel industry by any chance? Perhaps they could use those profits to cover their losses.
The answer should be
Sounds like they paid out for recent claims and don’t want to play anymore.
Good riddance. By far the worst insurance company.
Is it? I’ve never had a problem with them, but I’ve also never used anyone else.
Im talking about litigation.
Sing along with me kids, "Like a good neighbor... State Farm is broke!"
Like a bad neighbor, State Farm's not there.
No wonder my car insurance SKYROCKETED with them. I switched to Progressive.
I guess State Farm ISNT there.
The insurance market is fucked up in California right now.