Insurance companies will use any excuse to get out of insuring California homes. They will even cheat to do it—their goal is to save their company. Why? California government is so bad, poor forest management causing forest fires, that they need protection.
“According to Karl Susman, an insurance broker with over 30 years of experience, the increased use of aerial imagery is tied to insurers’ bottom line.
‘They’re effectively losing money,’ Susman told CBS News, adding that companies are looking for any reason to drop policies to reduce their financial risk. And, it’s perfectly legal.
So the grainy aerial imaging was just the legal cover needed to jettison paying customers, since insurers are losing money—but why are insurers losing money in this “strongest-ever” economy? Could it be because they’re having to shell out more on claims because of inflation? Does it have anything to do with the purchasing power of the dollar sinking to new lows, and repairing/restoring property damage costs much more than it used to for the same products? Like always, this is a “government” problem.
The “solution” offered in the article?
If you can’t find coverage through traditional brokers, you can apply for insurance through the California FAIR Plan, a state-mandated program providing basic fire and property insurance for high-risk areas.
Now we see the goal of Newsom and his Socilaists. Kill off the private insurance companies and have government do the job—set any rates they want; deny coverage to anyone they want. Sacramento will kill off single family homes in this manner. They are rushing to their goal.
Buyer Beware: Third-largest home insurer uses solar panels as justification to revoke coverage
By Olivia Murray, American Thinker, 10/23/24 https://www.americanthinker.com/blog/2024/10/buyer_beware_third_largest_home_insurer_uses_solar_panels_as_justification_to_revoke_coverage.html
After two decades spent as loyal customers to Liberty Mutual, a California couple recently discovered that the insurer had decided to cut ties, sending Janice and Anthony Coleman a “non-renewal” letter when solar panels on the roof were mistaken as moss, mildew, and algae growth. Here’s the story, from a report via Yahoo News:
Janice and Anthony Coleman, longtime homeowners in Fairfield, California, were shocked when Liberty Mutual, their home insurance provider of 20 years, sent a non-renewal notice. The reason? An aerial photograph from space, supposedly showing the roof, was used as justification.
Liberty Mutual claimed the roof had moss, mildew and algae growth, but the Colemans insist the alleged damage was simply their solar panels.
Now, despite the fact that a professional roofer determined the roof was in fine working condition and there was no moss or mildew, Liberty Mutual maintained the revocation of coverage, and the Colemans were left without a remedy; the company’s actions process and actions were completely within the bounds of the the law.
As the article also noted, the revocation wasn’t about moss and mildew, it was simply the justification needed to cut loose financial liabilities:
According to Karl Susman, an insurance broker with over 30 years of experience, the increased use of aerial imagery is tied to insurers’ bottom line.
‘They’re effectively losing money,’ Susman told CBS News, adding that companies are looking for any reason to drop policies to reduce their financial risk. And, it’s perfectly legal.
So the grainy aerial imaging was just the legal cover needed to jettison paying customers, since insurers are losing money—but why are insurers losing money in this “strongest-ever” economy? Could it be because they’re having to shell out more on claims because of inflation? Does it have anything to do with the purchasing power of the dollar sinking to new lows, and repairing/restoring property damage costs much more than it used to for the same products? Like always, this is a “government” problem.
The “solution” offered in the article?
If you can’t find coverage through traditional brokers, you can apply for insurance through the California FAIR Plan, a state-mandated program providing basic fire and property insurance for high-risk areas.
For an explanation of what FAIR looks like in the marketplace:
If homeowners on the [FAIR] plan incur widespread losses, like those that occur after a wildfire, homeowners with a private policy could potentially see a steep premium increase in order to cover those FAIR Plan losses.
Anywhere you find a giant mess in the market, no doubt you’ll find government right in the middle of it.
