Farmers did this sort if thing to my co-workers parents 30 years ago. They had a fire in the kitchen, which was contained in the kitchen. They had lived in that house for over 27 years. Farmers cancelled their insurance after paying a single claim. Her Dad calculated the premiums paid for 27 years versus the kitchen fire claim. He would have been far better off just putting the premium amount in a savings account. Farmers shareholders are only looking out for their bottom dollar.
the finical calculations daddy-o made would have been vastly different if the entire house and contents were lost to fire and he had to pay for housing until things could be returned to normal.. This was the risk he was paying against all those years. No one will ever sensibly dispute insurance companies are looking to protect profits, the amount of risk carried effects the cost of the insurance they carry against being wiped out by a bunch of unanticipated claims , like a wildfire might cause. Farmers might have thought a fire that burned down the entire kitchen was so unusual that it indicated an unusual risk, which they are not in business to cover. But in truth, it's not unusual to get cancelled after a big claim is paid, figuring better safe than sorry, and let the next insurer figure out if the risk is worth writing the new policy. Because it will probably be at a higher rate, so there will be hard feelings even if the policy is kept.
*I really don't even understand why we have insurance companies anymore because EVERY SINGLE TIME it comes to needing our insurance for SOMETHING what happens? They do EVERYTHING and ANYTHING in their power to weasel their way out of paying for ANYTHING and even when they DO pay they are the masters at low balling the price!!*
Well, yeah. It's an insurance COMPANY. Like every company, it exists to make a profit. It would go out of business pretty quickly if it didn't. Although companies have gotten more greedy and selfish than they used to be. Insurance is mostly a government-supported gambling industry these days. You're required to give them money and you just hope that you might get some of it back one day.
Years back Farmers came to look at the damage to my wife's car from one of their insured. The guy stood there and said he knew how much her car meant to her and they would take care of us. Then claimed the car was previously damaged and not by their insured. They really got pissed when I pulled out a recent picture of the car looking fine. And the whiplash my wife might have was more incentive to finally pay up. It is my own opinion based on our one personal experience with them that THEY ARE SO CROOKED, YOU CAN SCREW THEM INTO THE GROUND.
I have nationwide got in a car accident with a person with farmers. My insurance company paid for my car being total but my medical bills was over 20k. My insurance policy only covered up to 5k. But the lady I hit was at fault. The police report said I was at green and she was at green I was going straight and she was turning left. She turn on me. We had a witness. the witness gave information to both insurance company's wich they both talk to and his story align with mine that I had the right away. But farmers insurance said that becuase the witness wasn't in the police report they can't validate the claim. So I got a lawyer.
Oh my !!! That happen with me.i was going straight and guy changed the lane and hit me.he turn around and his insurance claim I was coming out of parking lot.blantant lie.i went to nearby buisness and none had camera.
They like to go on business trips to Las Vegas for conference yet they want you to pay for their trips. Enough is enough, these people go and spend what they don’t have allowing these tyrants a free meal.
@@sharksport01 there are many non profit insurance companies, just check around. The insurance provided by the automobile club is non profit, but they do not insure high risk , so these condos would never qualify , just like the don't insure non good drivers, it is a risk pool they leave to other insurers.
My Illinois Farmers Insurance agent sold me a homeowners policy when I bought my 8 acre "farm". We don't farm. There's no plowing nor animals. Just before closing the company sent me a letter stating "Farmers Insurance doesn't insure farms" !!!!
😂 I’m telling you the best pump and dump cash grab scheme ever invented by man. It’s like telling a girl you lover her just to get some ass and then you just never call back.
I rearended in a car accident by a woman that had Farmers ins. She was at fault, admitted it and was cited by the police. All I wanted was my car fixed....nothing else. Farmers dragged their feet and took longer than necessary to cover the damage. They were HORRIBLE to deal with. I would never buy insurance from them.
In cases like that, file the claim on your insurance. You'll have to pay the deductible, but your company will subrogate it and once they get paid back, they'll pay you your deductible. It's not ideal, but at least you'll be taken care of quickly.
S:aw a vid about a home in TX with a small black mold problem. Covered by their Farmer's Ins. F. kept dragging their feet and the mold spread, and now the entire house and furnishings are unsafe; they had to move out and can't sell the house like that.
I had farmers auto insurance for years, once I got into a little fender bender they canceled me and didn't fix my fender probably under a 1000.00 and I never went back to them. Couldn't believe it ! Never will ever use Farmers for anything again and will never encourage anyone else to use them. They are way over priced in California.
Farmers cancelled me too! A fender bender, I’d had them for seven years, no accidents, no claims, then I had a small accident and they cancelled me. No explanation! Just done! I was shocked! 😢
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@@Allioop_1 I know what you mean. I was a teen when that happen and lucky my dad was a Military mechanic he fixed my car. But since I will never go to farmers ever and always told everyone else I knew never to get it. They are a rip off! I've had AAA ever since.
We all should be concerned. The insurance industry is just an extended plan "grift," in my opinion. They charge you throughout your life and do not offer what they advertise.
You need to "pay your fair share" in an environment with rampant wildfires and homeless drug addicts that throw flaming feces at the house on a daily basis. My home is safe because my local politicians don't support illegal immigrants, open air drug markets, and lawlessness
@@donaldkasper8346 there is no law requiring home insurance, but most people don't want to risk the financial exposure if something happens on the property , so buy insurance. With driving , if you can provide financial assurance you can cover your liability, you can also skip buying insurance. However must people with that much money would like to keep it, so they buy insurance. A lender would be stupid to not protect against catastrophic loss of their investment, so requires insurance against such an event.
This issue is also facing single-family homeowners throughout the state. Insurance companies are changing their Maps Including anything built near open fields to be considered High fire danger. This problem is much bigger than just one insurance company or just the San Diego region
Insurance of any kind in CA is sketchy… too many fires and floods. A lot of areas have become uninsurable. I lived there most of my life and am glad I left. Also, the Cartel are there now too…
@@Allioop_1 i’m glad you’re happy. The fires brought the sketchy insurance. Just like recent, extremely cold weather has been felt in Texas/Arkansas and now northeastern US. Where I live in California Also had the highest temperatures ever this last summer. All the states will see a giant increase in their insurance as these extreme weather events continue to get worse.
@@sharons4611 Sketchy insurance companies? What does that mean? And these so called extreme weather events aren't natural. They happen because the State will not allow brush clearing. Put an end to your ignorance.
@@johnbeckwith1361 if you think that multiple atmospheric rivers are normal, think again! Brush clearing can’t be our ONLY problem because it’s happened in multiple states or are they all Darilek in their duties? So you think it’s normal to have temperatures so high for multiple days this summer? But I’m not going to attack you personally like you did me.
Farmers has been doing this all over California. I live in Fresno and my insurance agent had to find a new carrier for many of us. Fortunately the new policy is about the same price as Farmers was.
@@nobodyspecial4702 I am that wheelchair guy and those things I cannot do myself I hire out. HOA is more of an obstacle with unnecessary expenses.. fire insurance is by far more important than HOA period.
@@chad77657 Landscaping and maintenance companies have to bid on a contract and usually the lowest bid wins the contract. So, I doubt condo owners can find it cheaper to hire their own maintenance. HOA's actually save money by doing a whole complex.
@@elcajondavid1 why not buy a few lawnmowers and cut the grass themselves maybe. I stay in Louisiana and we for the most part dont do HOA. Will never get me to understand it.
With all the recurring wild fires in those areas, I'm not surprised that the insurance company would either be not renewing policies OR the premiums would be exorbitant.
They spread it around to the rest of us. I am in new hampshire, no floods, earthquakes, wildfires, newer home, cleared 100foot around stuctures....they are shafting me
My home insurance was canceled for my neighbors trees being too close to my structure. I asked them to put it writing so I could show my neighbors. The insurance company just ignored my request and still cancelled me.
This has been going on for a long time. My insurance on a Lake Arrowhead home was cancelled last year. For years my insurance on the home was approximately $1400 per year. Last year my insurance was cancelled due to wild fire hazard. Through Farmers I was quoted over $5000 per year for fire oily under the State of California's "fair plan." This was with a $15,000 deductable! I then was quoted $1500 by Farmers for a supplemental plan covering everything else, still with a $15,000 deductible. After this experience, I have no confidence in either Farmers or the State.
unless you have a mortgage on this high fire hazard property , no one is requiring you to buy insurance or even live there, so what's your beef? Science says as the climate deteriorates natural events will get only more extreme, so if a company doesn't acknowledge the higher fire risk and keeps rates the same, they probably couldn't afford to pay the claims in the area anyway. Of course, the reality is more complicated than that, the insurance companies also buy insurance to protect their business from bankruptcy in such catastrophic loss, but they can't get such insurance if they take stupid unprofitable risks.
Same happened to us. Reality was fire insurance was waaaaay too cheap to cover the risk. Insurance companies got burned (excuse the pun) badly by the hugely destructive fires. What pisses me off is there's no attempt to price risk - my neigbors who had wood sidong/shingle roofs and wood decks paid same as me who has stucco/clay tile and no wood decks - their home would ignite in a nano second - ours wouldn't. But we paid the same.
Insurance are making a killing all over the US. Wind and Hail policies for communities along the Gulf Coast, and the Atlantic Seaboard cost the same as the fire policy you are describing.
@@richardelliott8352 “Climate change” is a moneymaking scheme. Weather and climate are cyclical. Insurance companies charge high rates because they are greedy, period. How much do you pay monthly in insurance for house, car, etc.? How many times have you filed a claim? And, if you have filed a claim, how much did insurance raise your rate and deductible?
It is about time owners of property in areas at high risk of either fire or flood pay appropriately for insurance. The people in this development will be able to get insurance, they will be charged appropriately. It is not appropriate to shift the insurance to the State. That eliminates competition, insurance companies, and gives more money to the State of California to mismanage.
Well said. If you want to build and live on a coast, near a river, in an earthquake prone area of (in this case) area prone to wildfires, you need to pay more. I purposely do not live in a high risk area by choice. There are affordable concrete dome homes that can withstand all natural disasters, those should be used more often for high risk areas. (IMHO)
@@iheartlreoy8134 Yes, we have to bear the burden for poorly run cities. Would be nice if the left wasn't insulated against their mistakes. But if they weren't, they'd be conservative.
It’s about time to stop rebuilding in dangerous areas. Insurance companies can’t keep rebuilding properties in areas with repeated burns. It is a racket. These people need to sell and move to a safer area.
Most policies will only pay replacement cost if you rebuild in the same place. Otherwise it's actual cash value, which is less. It creates a perverse incentive to rebuild in inappropriate places. A few companies offer walkaway coverage where they'll estimate replacement cost and just cut you a check, but they're usually more expensive.
Can you blame the insurance company, do you know the risk factor, this is in deed in a risk zone for fires, this risk cost is passed on to other farmers insurance public, and honestly they do not want to have to take on the risk for people to build in fire prone areas, insurance companies are rethinking the risks - can not blame them - they could go under with some of the risks.
Farmers insurance is owned by Zurich insurance and last year they made 6.32 BILLION dollars and that was just until July. Now, after operational expenses of which paying all politicians to stay in bed with them to screw YOU, net income was 1.10 BILLION dollars, still a hefty amount for only half the year. One that can guarantee taking a bet that this property will not go out in flames in a year. Sadly, you all need to elect better leaders WHO WORK FOR YOU. Just like Zurich is doing.
This is typical of the state of our society and news reporting. Blame the insurance companies for not wanting to insure against high fire risk and absolutely no discussion about mitigating the fire risk through brush reduction, controlled burns, etc. What do people expect the insurance companies to do? Go out of business when the fires burn out of control? Raise the rates on homeowners in low risk areas?
Absolutely Not…we expect them to do exactly what they are doing..take your money month after month year after year and when you need them they flick you like a smoked cigarette bud. Insurance companies are the best pump and dump cash grab schemes. It happens all over the country, insure a car but as soon as they get into an accident by no fault of theirs boom bye bye see you later you get dropped faster than a hot potato….the best part of it all…is that it’s legal…protect the billion dollar company and screw the ones that paid for years in the event something happens and when it does leave them high and dry…sounds like when I used to tell girls in high school I love them just to get some ass then never call again…real nice huh.
@vikinghog, I understand your point. Insurance companies have to look at risk and consider what the cost to replace homes lost to fire and flood. Real estate maps show those areas online - and the buyer takes the risk. However, please consider this: First of all, developments in San Diego commonly "plan" greenbelt areas that are adjacent to canyons and steep hillsides. That's one problem. Clearing areas with rugged terrain is labor intensive, but not impossible. Next, California had --- decades ago ---- a proactive plan for clearing brush and creating firebreaks DECADES ago: I'm talking about 1920 - 1990. The State hired workers through the Forest Service that managed and groomed the hi risk areas to prevent fires and stop them if/when they started. Watershed areas get overgrown and brush blocks runoff = flooding. (I'm old enough to remember the San Gabriel Mountains being criss-crossed with 50-100' wide firebreaks which extended down to and included the Foothills. Hillsides near the breaks were disked in the Fall and Winter to keep brush down. Santa Ana winds have been a regular occurrence time out of mind - nothing new. When we had multiple fires in California 4 years ago, our idiot Governor had the President come and look; Gov. Newsom got a well deserved scolding because it's all due to negligence and mismanagement. Newsom blamed it on "Climate Change" but many of us remember the decades of good management and know better. Our current Governor (and his predecessors) have failed to implement prevention that was routine going back to the 1920s. California has always been a region of potential fire and flood, but not as bad as it has become (again, due to long term negligence). Until we demand that our taxes be used on our infrastructure inspection and maintenance, we will continue to endure losses. Power lines that cross California were placed with the stated goal they would be replaced every 70 years by the utility companies. Southern California Edison, and Sempra Energy have not touched those installations for well over 70 years. We are sitting ducks. It is egregious that our so-called Planning Commissions never consider the long term needs of residents to prevent the catastrophic fires we have now. Our state is being destroyed by passive and active neglect. We pay the highest property taxes and prices for homes in the US and get nothing in return. It's corruption, and it is centered in Sacramento.
Doesn't anybody think it's time that the state of California stops allowing Farmers Insurance to sell insurance in California! Black ball Farmers and see how they like losing California's business?
That is not the answer. Electric power companies in California, primarily PG & E, need to maintain and protect equipment, including protection from vandals. They need to be made to trim trees clear around power lines, like is done in Oregon.
Insurance regulations will kick you out of the state because of fraud, and this situation is not that. I think it is farmers business what policies it chooses to write and to pursue what they consider as good business. If they have made a mistake , there are plenty of companies who will take the business they don't want. As evidenced by the statement that other insurance is already in place, and they are now shopping for insurance at a lower cost.
I was looking and I was interested in a townhome in San Diego but looking at the complex and next to a bare hill I did not want to pursue it due the fire insurance liability.
smart move, if a person can tell by looking it is a risky deal, whatever insurance might be secured will only go up in costs, since the insurers know events will only get more extreme as the climate continues to deteriorate, just as science has always said.
Smart. These people bought the condos next to a slope where the winds blow uphill to their condos...a chimney effect in a fire. I've no idea why they would choose to buy in an obvious fire zone.
I moved to Nevada. Bought a single family home for the 1st time in my life. Purchased home +car insurance & was with them about 10 years. Never had to file a claim, fortunately, but that didn't ever stop them from raising my rates every year--FOR NO GOOD REASON. I stopped them & cancelled. The telephone rep for my agent said, "Thank you, Andrea, for being such a wonderful customer!" I never responded. Just hung up. The ONLY reason they liked me was because I never had to file a claim!! That never stopped them from picking my pockets clean! All insurance companies raise rates for no good reasons. Farmers is a known offender.
I’m sure you’ve complained to the supermarket, Costco, Walgreens, gas stations, Home Depot, Lowes, your water agency, your gas provider and electric company too. All those rates have gone up every year. Or you just like to beach about insurance.
Yeh, I can't believe they're paying so much. I'm up in WA and houses we've looked at had HOA in the range of $500-1200 a Year not month. for gate fees or community water.
@@eleventy-seven I have never researched that part of it, but other parts of HOAs are a huge scam. It isn't a surprise that that some are screwing residents over with huge fees of various sorts.
We had the same problem in San Diego with AIG. Our HOA insurance went up by 6 figures. They need to do brush control. The brush has grown up all the way to the fence line. If I did the same thing in my yard, the fire department would hire someone to get rid of the brush and charge me for it.
That's what I was wondering. I'm seeing lots of foliage and trees close to the condos and it doesn't look like they've cleared any brush or made fire breaks in the surrounding property lines.
@@Fordgroup00 That is 100% wrong. I am responsible for clearing any brush within 100 feet of any structure on my property regardless if I own that property. Every year I clear brush on my neighbors land. The fire department comes out and inspects my property every year. They don't care about property lines when it comes to brush management.
And...run a fire sprinkler system on the OUTSIDE of the house...Pipe running the length of the house with sprinklers every five feet or so...Like on the inside only over the top of the roof...Like an umbrella during a firestorm....Just a thought...
You'll never get a permit to manage overgrown vegetation in CA. Every plant is living and has a soul, not to mention the insects and lizards that live in the underbrush.
@@garryquiggins8183 Fire clearance to 100ft is legal required in California and enforced by fire departments. No permit required and you can be held liable if you don't do it.
That's no different than people in Florida being denied homeowners flood insurance if you life in a high risk area you'll pay for it one way or another
Everyone in America gets flood insurance through a federal program. It's windstorm coverage that's growing harder to get, especially anywhere near the coast.
Let everyone pay for their own risk. Hurricanes, floods, wildfires, what ever. Why should someone in Iowa subsidize a beach house in the Florida Keys? Let the person with the beach house assume their own risk.
I don’t have a problem paying to live in high-risk area. What I do have a problem with is that insurance companies charge a premium when you move if they felt you called in too many claims in your previous residence . Even if those claims were not your fault.
@@sharons4611 That is the definition of high risk; more than average claims regardless of who is at fault. Insurance rates are based upon expected claims and actual claims. Just like a driver who gets more tickets pays more. Also, a driver who gets rear ended 3 times in a year pays more than someone who is never in an accident.
@@briangc1972 ok I buy it if the driver was negligent. But otherwise no. I also think that when that ‘bad risk’ follows you is wrong. Lesson learned, never live in a condo. 🙄
Well that will suck for all the poor republican states that live off subsidies from California. Here's a hint, CA is one of the net payer states in the country along with quite a few other Democratically-led wealthy states.
The STATE OF CALIFORNIA going to "assist" in finding the "state funded wildfire" insurance solution? Don't make me laugh. If The State gets involved with your insurance, just WATCH your "property taxes" spiral to tens of thousands of dollars. It's the excuse they need to get their hands on your homes around Proposition 13.
I have family in CA and from what they have told me, the State of CA has taken over the "wildfire" portion of home insurance. You have to buy that from the State. Their yearly insurance went from approximately $1000 per year to $10,000 per year. They have built millions of homes in canyons and on dry hills. These homes are surrounded by kindling and are in canyons that make it easy for fire to spread. It is a recipe for disaster.
Years ago, California was selling earthquake insurance. It fell apart and was completely nonfunctional from the very beginning. I think it only lasted about 2 years.
Life long LA resident, every yr if it isn’t the wild fires it’s the mudslides in Malibu that keep all our ins premium’s go up even though we don’t live up there. I realize these older folks plight but at what point will they understand the risks of living bear wild fire areas.
I have a 4 year degree insurance and 30 plus years of experience. When you have a mortgage on any property from single family to condo complexes. Insurance is required. If the the borrow fails to obtain it, the lender will purchase it at an even higher price, and their name will be first on the policy. The lender will be protected, the condo owners not so much. Here in Florida, condo master polices have sometimes doubled, resulting in much higher condo fees. New legislation will require more frequent inspections and adequate reserves. Condo fees will rise drantically and condo values will sink, This is not a good time to own a condo in Florida. Florida has had a state run insurance company since 2002. It has become the largest homeowners carrier It is very expensive and has not stabilized the market. Good luck.
Let everyone pay for their own risk. Hurricanes, floods, wildfires, what ever. Why should someone in Iowa subsidize someone's property on the beach in the Florida Keys? Let the person with the beach house pay for their own risk. We know 100% that a hurricane WILL hit that beach property eventually.
As a non-California resident, I support the insurance company trashing these suckers. hahahaha Yes this gives my petty little soul great pleasure. Go steal $949 worth of something and crap in your streets.
these home owners should not have bought in a fire zone in the first place. The condos are by a slope, when there's a fire it's the chimney effect, the flames run right up to the condos.
I’m in Murrieta CA and we are having the same issues with our insurance for our HOA. Our insurance went up and so did our HOA monthly fee. It’s crazy and needs to be addressed.
Non debt owners have complained about association debt owners controlling "their" propertys for many many years ...fascism nazis gestapo comes to mind..
It's difficult to find any home that is not a dump and not located in an HOA in SoCal. That is just how this part of the state was developed, hundreds of homes at a time. To find a home, not in an HOA, you are likely looking rural, ranch or farm, else something built back in the early 1900s.
When I looked at buying a rental in your area I made sure I bought on the ocean side of the 15 freeway vs the desert side. The desert side insurance was like $2,500/yr whereas the place I bought was only $750.
The journalist should do better research. The correct word is “non-renew” the policy, not cancel which is entirely different. The insurance company can only cancel within 30 days of inception or for misrepresentation.
the entire report was soft headed, one step away from click bait, with a fear based tone probably calculated to inspire loyal viewers , knowing full well how to trigger the basic human brain responses.
Owned a condo in RB back in the late 90s & early 2000s. That area is a tinderbox especially coupled with the occasional Santa Ana Winds. Seems like every condo HOA is in some sort of lawsuit.
Now if it was revealed the wiring in the project was faulty and they cancelled the insurance for that would you think they were screwing you? Or maybe faulty plumbing? Could it be that you are looking at this all wrong. Can they be expected to insure your property at a cost that they know isn't enough and risk losing millions which will cost their other customers? There are two parties here that can get hurt not just the folks who live in this one project.
Coastal winds blow in up that hill, woosh, the chimney effect torches all those condos in minutes. This occurred recently in the San Diego area, so now insurers are alarmed by the risk.
This is going to get worse in 2023. Many carriers are re underwriting their positions based on new fire maps and better analytics of potential fire loses. More non renewal notices are coming.
You don't even have to do that. Close your eves, screen any attic vents, and move any plants to five feet away from the home does a lot to protect from fire.
They need to build fire walls and have a strict policy for all areas of no grass or plants within X amount of feet and maintain weeds that may occur in the future
Do you know the amount of water needed to take out a small fire, do you really think tiny sprinklers can help against wild fires? You underestimate the power of wild fires my friend....
We have a single family home in Rancho Bernardo. We had State Farm insurance that was cancelled after the 2007 fire even though we had no damage from that fire.
We have insurance for 15 plus years up until last year. The insurance company dropped out of calif. Had to get another at twice the price. Never had a claim either. We did have farmers auto up until they made us pay the deductible after someone rear ended my wife’s car. We had their DL, Insurance and registration information every thing but farmers did chit.
@@Paiadakine Why did your insurance have to pay you in the first place if it was a rear end crash? They must have found your wife at fault. Unlikely the other motorist was uninsured. If it wasn't your fault yet you still needed your insurance for it then of course you will have to pay the deductible.
@@johnbeckwith1361 Dude, half the cars on the road in CA aren't insured. When I lived there they were talking about allowing illegals to get a drivers a license so that they could have something to take away if they got into an accident because that's how stupid CA politicians are.
*I really don't even understand why we have insurance companies anymore because EVERY SINGLE TIME it comes to needing our insurance for SOMETHING what happens? They do EVERYTHING and ANYTHING in their power to weasel their way out of paying for ANYTHING and even when they DO pay they are the masters at low balling the price!!*
Yes, and in most cases of Insurance companies, the quality is shite. If you make too many claims, (legitimate ones) - they will drop you. Live in an an area at risk of natural disasters? (which is most places nowadays) - They will drop you. Get sick too often or have some long term disease? - Guess what? They will drop you or might not even insure you in the first place.
The department of insurance needs to take charge of this redlining…. Perhaps the state could enter the reinsurance market, and maybe some tort reform so the damn lawyers stop making fortunes off each tragedy
The media just ignoring that the aerial view at 1:38 shows clear evidence of a fire that burned the hillside? I get it, people want to live where they want to live, but to deny that they are ultimately responsible for the risks with living there isn't popular because I used to live in San Diego. Every year the wildfires would rage and every year people would lose their homes. I can't even tell you how many times the same neighborhoods burnt down and rebuilt before insurers and the state started refusing rebuilds.
Smart move by Farmers. With all this rain and the fact that no one can clear the brush in those canyons (and most others for that matter) we are in for one nightmarish fire season.
You built in a desert and have a bear 100% chance of being burned out by wildfires . Insurance companies do not have unlimited funds and how can they insure such dangerous properties?
Farmers insurance is a joke. 30 years ago they canceled my boss's policy because his wife was hit head on in the snow by Tourist in an uninsured rental car. The accident was ruled 50/50 because of lack of evidence or something. The rest of the family then canceled their policies. The whole family used the same insurance agent to insure everything for more than 40 years (vehicles and homes). Farmers lost payment from 5 houses, 7 adults over 40 years old. 3 more children over the age of 16 and all future policy holders. Just because they had to pay for an accident that was (allegedly) caused by an uninsured tourist who couldn't drive in the snow properly. Thats how stupid/greedy they are.
Sounds like it would be cheaper to have the brush cut back and to install some type of sprinkler system further out around the complex. Fix the wildfire hazard as best you can don't cancel the policy🤷🏾♀️
I live in a single family dwelling community in Sacramento County and pay $100/month HOA fee and receive maintenance and care of the front yard including tree trimming and if lawns become overgrown with weeds the lawn is replaced by the landscaping company contracted. I noticed a big jump in my water bill and contacted the company and the same day they came out and detected a leak in the sprinkler system and made immediate repairs. I live adjacent to a protected habitat and every year the county has the same person bring in his herd of sheep and goats for brush clearance. If I was paying $500/month in HOA fees I’d expect more from the HOA to assist with the maintenance surrounding the condo complex. Just my opinion
1:33 foreground looks like a fire already rolled thru & the complex dodged the torch 🔥 The Ins Co should give the HOA a list of conditions in which they Would issue policies.
Well, it seems that other parts of the country are finally experiencing what has been happening to homeowners in southeastern states for the past 15 years. It was very easy for those outside of the area to say, "why do those people live there"? Fires, flooding, and then land slides are a part of west coast living as are hurricanes and bad thunderstorms along the Gulf Coast. We also used to have Farmers insurance and after multiple increases of at least 25%, every year for 3 years in a row switched to Liberty Mutual and our costs when down 50%. Customer service has been phenomenal as well.
50 years in ny subburbs no insurance before shacks were million dollar profits, insured yearly at thousands (tens?) And would not sell..non debtor forced by fascists?..
We bought a house 3 yrs ago and State Farm wouldn’t cover our home because trees were to close to the house and we have a fire hydrant on our property!
Someone bring those goats. But yes, previous commenter was correct about the “fresh air” vents under your roofs. Those were once required by the state but no longer are. You can cover them so embers don’t get in. The sooner the better. Also if you share a common wall with a nieghbor, have someone get up the in the attic and install a firewall. The HOAs will try to disallow this but they need to give if the State requires it, they cannot stop you. If my home catches fire because my HOA fails to remove a tree too close to my home, than my homeowners insurance should be able to sue my HOA’s Master Plan Insurance for not following state requirements. Btw, my condo private homeowners went up 45 percent this year for reasons that don’t have to do with the fire risk though that will be comings next because we are within two blocks of another residential area that is in a high risk zone; an area totally capable of clearing. All condo owners in California are facing a 45 percent increase due to plumbing failures from upper floors flooding or damaging bottom units. The insurance companies decided they need more money to cover these expenses across the board.
Farmers canceled me after over 20 years with them. I live in nor cal, but in a town with air attack across the freeway and also in between 2 fire stations.. it’s a joke
We are Farmers. We hope consumers will come away with the realization that we know a thing or two about insurance because we've seen a thing or two, over our nearly 90 years in business. AND WHAT WE KNOW NOW IS THAT YOU ARE CANCELLED.
Ya, they know when the State is letting the canyons become an extreme risk. They are smart to get out. It's rained a lot lately. Just wait until summer.
We saw the California state determination via our Laguna Beach Fire Chief. It indicates that they are basing their new fire/ tree cutting requirements are based on the Paradise Fire.. a very rate fire that actually the trees survived! This declaration wants all the large trees destroyed and mangled.
Companies dont want to take on the risk when their modeling says the likelihood of loss isn't covered by the premium charged. It is similar to Florida with hurricane insurance and homes by the water.
@@lauralinden6840 I DONT believe in Climate Change. the way the "promoters " use it.Everything changes..including us . Its a money making .agenda..My face changes.My feelings change.Everything changes..including attitudes. Climate? That Swedish girl GRETA...bashes the West on climate change. One reporter asked her. " You complain about the West on climate change. We HAVE NOT heard you speak about Saudi Arabia, Iran China about ehat you are advocating? HOW COME? NO answer. Ignores the question. NO ANSWER.NONE!!! SHE probably was not given a prepared answer by her parents ( the force behind) or DOES NOT KNOW. So..GRETA.."How dare you?" HOW DARE YOU.
It’s easy to blame insurance companies for many things but think about it the next time a disastrous event is on the news and ends with ‘damage estimates are as high as___________’. Think about the magnitude of whatever the quoted figure is. Without insurance one medical or property liability claim could wipe me out financially. No, I don’t sell insurance policies.
Concerning earthquake insurance, I live in a condo and had state earthquake insurance for the longest time. A few years ago, I was shopping for a new homeowner's insurance and found a privately run earthquake insurance provider that is cheaper than the state policy. I have no allegiance to any insurance company. Whoever can give me the best deal and service gets my business.
Competition is always good for the consumer. Make sure your insurer is what is called an "admitted insurer" and is therefor subject to the rules that make sure they will pay off. I remember rainbow car insurance that was out of the Bahamas , that got a lot of business for having the lowest prices around, because they never paid off, and only answered to Bahamian law, not having to answer to the California insurance commissioner. They eventually got shut down for fraud, but not before people lost a lot of money. Lloyds of London, famous for insuring runners legs and unusual stuff, is also not a California admitted insurer, but I trust them .
Damn, I deliver to those complexes, like each one, I know those drive up/ways, and now we're probably gonna lose contracts because these people are gonna make their in home cooks shop themselves instead of having their food delivered as they have been doing for years...
This is happening in every state, with every insurance company. An insurance company just wants to collect and not pay out as much as possible, and with climate change they are no longer able to do that. in the next 5 years, no insurance company can sustain, without charging monthly prices that no one will pay. Who is going to pay $2,000 a month for homeowner's insurance? More than taxes, more than the mortgage, and some more than both combined... and for what... Just incase? You would be praying for a disaster every 4 years, because 4 years of insurance is more than the value of the house. And in those cases, the owner or insurance company will drop you because the insurance IS more expensive than the value of the house.
I was in an accident caused by a kid running into the back end of my car while I was actually stopped at a red light....he decided not to stop. He was insured by Farmers Insurance and I had a very hard time getting them to pay for the damage. The reason I would never go with Farmers Insurance. I have had AAA Insurance for over 20 years now auto and also now home. Never have had a problem with them period.
My guess is the state is regulating the premiums so the insurance company can't charge enough to pay for the risk. The only other reason an insurance company would exit a market is because the risk cannot be identified and quantified. And there, too, the state may be doing something -- such as refusing to allow controlled preventative burns -- to impact the risk.
California only regulates how low insurance can be sold for, to insure that a company will be able to actually pay claims, and not just declare bankruptcy and keep all the money, perhaps even setting up a separate company for each policy sold. there is no limit to how much a company might charge for a policy on the high end, so it pays to shop around and know in detail the product you are buying. I once talked to a fire captain who had over the years managed to put himself in a real nice financial condition. It was his habit to lend his son in law his large SUV to go ahead with the family to the mountain cabin on some week ends and he would follow them up later when he got off work. He just about freaked out when he learned his multi million dollar liability policy reverted to the lowest legal minimum if he lent out his car and could possibly loose everything if son in law had an accident going to the cabin. He hadn't looked into the details of his coverage, and just looked at the usual coverage limits and went for the best price, buying off a TV ad, and getting a policy entirely on the internet.
Farmers did this sort if thing to my co-workers parents 30 years ago. They had a fire in the kitchen, which was contained in the kitchen. They had lived in that house for over 27 years. Farmers cancelled their insurance after paying a single claim. Her Dad calculated the premiums paid for 27 years versus the kitchen fire claim. He would have been far better off just putting the premium amount in a savings account. Farmers shareholders are only looking out for their bottom dollar.
That stinks. So unjust. Paid for years and they check out. All insurance is all about money. Paying them big CEOs
the finical calculations daddy-o made would have been vastly different if the entire house and contents were lost to fire and he had to pay for housing until things could be returned to normal.. This was the risk he was paying against all those years.
No one will ever sensibly dispute insurance companies are looking to protect profits, the amount of risk carried effects the cost of the insurance they carry against being wiped out by a bunch of unanticipated claims , like a wildfire might cause. Farmers might have thought a fire that burned down the entire kitchen was so unusual that it indicated an unusual risk, which they are not in business to cover. But in truth, it's not unusual to get cancelled after a big claim is paid, figuring better safe than sorry, and let the next insurer figure out if the risk is worth writing the new policy. Because it will probably be at a higher rate, so there will be hard feelings even if the policy is kept.
*I really don't even understand why we have insurance companies anymore because EVERY SINGLE TIME it comes to needing our insurance for SOMETHING what happens? They do EVERYTHING and ANYTHING in their power to weasel their way out of paying for ANYTHING and even when they DO pay they are the masters at low balling the price!!*
Well, yeah. It's an insurance COMPANY. Like every company, it exists to make a profit. It would go out of business pretty quickly if it didn't. Although companies have gotten more greedy and selfish than they used to be. Insurance is mostly a government-supported gambling industry these days. You're required to give them money and you just hope that you might get some of it back one day.
correct .
Years back Farmers came to look at the damage to my wife's car from one of their insured. The guy stood there and said he knew how much her car meant to her and they would take care of us. Then claimed the car was previously damaged and not by their insured. They really got pissed when I pulled out a recent picture of the car looking fine. And the whiplash my wife might have was more incentive to finally pay up. It is my own opinion based on our one personal experience with them that THEY ARE SO CROOKED, YOU CAN SCREW THEM INTO THE GROUND.
I have nationwide got in a car accident with a person with farmers. My insurance company paid for my car being total but my medical bills was over 20k. My insurance policy only covered up to 5k. But the lady I hit was at fault. The police report said I was at green and she was at green I was going straight and she was turning left. She turn on me. We had a witness. the witness gave information to both insurance company's wich they both talk to and his story align with mine that I had the right away. But farmers insurance said that becuase the witness wasn't in the police report they can't validate the claim. So I got a lawyer.
Oh my !!! That happen with me.i was going straight and guy changed the lane and hit me.he turn around and his insurance claim I was coming out of parking lot.blantant lie.i went to nearby buisness and none had camera.
They like to go on business trips to Las Vegas for conference yet they want you to pay for their trips. Enough is enough, these people go and spend what they don’t have allowing these tyrants a free meal.
You never get insurance for them to pay. You get it because your mortgage or car lender requires it.
Truth
Insurance agents are your best friend when they sell, but your worst enemy when you have a claim.
It’s the best legal robbery ever created by man..pure evil genius
and some are liers
@@P2Feener305 That spot is held by Federal Reserve.
Let's all open a non profit insurance company.
@@sharksport01 there are many non profit insurance companies, just check around. The insurance provided by the automobile club is non profit, but they do not insure high risk , so these condos would never qualify , just like the don't insure non good drivers, it is a risk pool they leave to other insurers.
My Illinois Farmers Insurance agent sold me a homeowners policy when I bought my 8 acre "farm". We don't farm. There's no plowing nor animals.
Just before closing the company sent me a letter stating "Farmers Insurance doesn't insure farms" !!!!
😂 I’m telling you the best pump and dump cash grab scheme ever invented by man. It’s like telling a girl you lover her just to get some ass and then you just never call back.
Now that's ridiculous.
I rearended in a car accident by a woman that had Farmers ins. She was at fault, admitted it and was cited by the police. All I wanted was my car fixed....nothing else. Farmers dragged their feet and took longer than necessary to cover the damage. They were HORRIBLE to deal with. I would never buy insurance from them.
I bet no other insurance company would ever do a thing like that.
Great, that is who I use. Can't trust anyone.
In cases like that, file the claim on your insurance. You'll have to pay the deductible, but your company will subrogate it and once they get paid back, they'll pay you your deductible. It's not ideal, but at least you'll be taken care of quickly.
how could she possibly be at fault if you rear-end her? i don't believe you
S:aw a vid about a home in TX with a small black mold problem. Covered by their Farmer's Ins. F. kept dragging their feet and the mold spread, and now the entire house and furnishings are unsafe; they had to move out and can't sell the house like that.
I had farmers auto insurance for years, once I got into a little fender bender they canceled me and didn't fix my fender probably under a 1000.00 and I never went back to them. Couldn't believe it ! Never will ever use Farmers for anything again and will never encourage anyone else to use them. They are way over priced in California.
Farmers cancelled me too! A fender bender, I’d had them for seven years, no accidents, no claims, then I had a small accident and they cancelled me. No explanation! Just done! I was shocked! 😢
INSURANCE IS JUST ANOTHER TAX🙉🙊🙈ALL "OUR" POLITICIANS ARE 100% CORPORATE OWNED 🙉🙊🙈WE LIVE IN BONDAGE TO 🖕PRIVATE🖕🏾CORPORATE🖕🏼POWER🖕🏾☠️⚒️⚒️100% AGAINST THE USA CONSTITUTION😃 no good American slaves corporations are not people😝🤣😜😃
@@Allioop_1 I know what you mean. I was a teen when that happen and lucky my dad was a Military mechanic he fixed my car. But since I will never go to farmers ever and always told everyone else I knew never to get it. They are a rip off! I've had AAA ever since.
@@kipincharge2833 I absolutely agree !
@@barbaraayala7808 I’m on USAA. They pay year end dividends and are great!
We all should be concerned. The insurance industry is just an extended plan "grift," in my opinion. They charge you throughout your life and do not offer what they advertise.
You get insurance because a lender or the law demands it, not because you want to be insured.
You need to "pay your fair share" in an environment with rampant wildfires and homeless drug addicts that throw flaming feces at the house on a daily basis.
My home is safe because my local politicians don't support illegal immigrants, open air drug markets, and lawlessness
@@donaldkasper8346 there is no law requiring home insurance, but most people don't want to risk the financial exposure if something happens on the property , so buy insurance. With driving , if you can provide financial assurance you can cover your liability, you can also skip buying insurance. However must people with that much money would like to keep it, so they buy insurance. A lender would be stupid to not protect against catastrophic loss of their investment, so requires insurance against such an event.
@@richardelliott8352 You cannot hold a mortgage without insurance. Your bank will foreclose on you to protect their investment.
And owned by the banker scum. Free money for banker scum.
This issue is also facing single-family homeowners throughout the state. Insurance companies are changing their Maps Including anything built near open fields to be considered High fire danger.
This problem is much bigger than just one insurance company or just the San Diego region
Insurance of any kind in CA is sketchy… too many fires and floods. A lot of areas have become uninsurable. I lived there most of my life and am glad I left. Also, the Cartel are there now too…
@@Allioop_1 i’m glad you’re happy. The fires brought the sketchy insurance. Just like recent, extremely cold weather has been felt in Texas/Arkansas and now northeastern US. Where I live in California Also had the highest temperatures ever this last summer. All the states will see a giant increase in their insurance as these extreme weather events continue to get worse.
@@sharons4611 Sketchy insurance companies? What does that mean?
And these so called extreme weather events aren't natural. They happen because the State will not allow brush clearing. Put an end to your ignorance.
@@johnbeckwith1361 if you think that multiple atmospheric rivers are normal, think again! Brush clearing can’t be our ONLY problem because it’s happened in multiple states or are they all Darilek in their duties? So you think it’s normal to have temperatures so high for multiple days this summer?
But I’m not going to attack you personally like you did me.
No, Farmers is part of the problem but not the only problem.
Farmers has been doing this all over California. I live in Fresno and my insurance agent had to find a new carrier for many of us. Fortunately the new policy is about the same price as Farmers was.
With lacking forest management you may want to bring this up with your state government
Cancel the HOA fees and apply it to increase the insurance. Insurance is important HOAs are unnecessary
Sure, wheelchair guy is going to get out there and mow his lawn and do all the painting and stuff that a complex like that requires.
@@nobodyspecial4702 would be alot cheaper to hire someone to cut the grass.
@@nobodyspecial4702 I am that wheelchair guy and those things I cannot do myself I hire out. HOA is more of an obstacle with unnecessary expenses.. fire insurance is by far more important than HOA period.
@@chad77657 Landscaping and maintenance companies have to bid on a contract and usually the lowest bid wins the contract. So, I doubt condo owners can find it cheaper to hire their own maintenance. HOA's actually save money by doing a whole complex.
@@elcajondavid1 why not buy a few lawnmowers and cut the grass themselves maybe. I stay in Louisiana and we for the most part dont do HOA. Will never get me to understand it.
With all the recurring wild fires in those areas, I'm not surprised that the insurance company would either be not renewing policies OR the premiums would be exorbitant.
They spread it around to the rest of us. I am in new hampshire, no floods, earthquakes, wildfires, newer home, cleared 100foot around stuctures....they are shafting me
My home insurance was canceled for my neighbors trees being too close to my structure. I asked them to put it writing so I could show my neighbors. The insurance company just ignored my request and still cancelled me.
Any excuse they can use.
Trees fall on houses all the time. It costs them money, what do you expect
Chuck Norris, they were not tall trees. Crape Myrtle. It was because of fire danger.
@@-oiiio-3993 To not have customers? Is that why we see insurance commercials all the time?
get goats they will clean up the canyons and clear all the brush away. Great fire prevention!
This is a great idea and has been proven to work!
Best comment ever
Yum, feta cheese.
Pigs are better than goats as they don't eat everything like goats do. Goats = mudslides.
Yum yum..communist goats..? Vrs homeless?
This has been going on for a long time. My insurance on a Lake Arrowhead home was cancelled last year. For years my insurance on the home was approximately $1400 per year. Last year my insurance was cancelled due to wild fire hazard. Through Farmers I was quoted over $5000 per year for fire oily under the State of California's "fair plan." This was with a $15,000 deductable! I then was quoted $1500 by Farmers for a supplemental plan covering everything else, still with a $15,000 deductible. After this experience, I have no confidence in either Farmers or the State.
unless you have a mortgage on this high fire hazard property , no one is requiring you to buy insurance or even live there, so what's your beef? Science says as the climate deteriorates natural events will get only more extreme, so if a company doesn't acknowledge the higher fire risk and keeps rates the same, they probably couldn't afford to pay the claims in the area anyway. Of course, the reality is more complicated than that, the insurance companies also buy insurance to protect their business from bankruptcy in such catastrophic loss, but they can't get such insurance if they take stupid unprofitable risks.
Same happened to us. Reality was fire insurance was waaaaay too cheap to cover the risk. Insurance companies got burned (excuse the pun) badly by the hugely destructive fires. What pisses me off is there's no attempt to price risk - my neigbors who had wood sidong/shingle roofs and wood decks paid same as me who has stucco/clay tile and no wood decks - their home would ignite in a nano second - ours wouldn't. But we paid the same.
Insurance are making a killing all over the US. Wind and Hail policies for communities along the Gulf Coast, and the Atlantic Seaboard cost the same as the fire policy you are describing.
@@richardelliott8352 “Climate change” is a moneymaking scheme. Weather and climate are cyclical. Insurance companies charge high rates because they are greedy, period. How much do you pay monthly in insurance for house, car, etc.? How many times have you filed a claim? And, if you have filed a claim, how much did insurance raise your rate and deductible?
Unfortunately those price increases reflect the reality of increased fire risk and high rebuilding costs.
It is about time owners of property in areas at high risk of either fire or flood pay appropriately for insurance. The people in this development will be able to get insurance, they will be charged appropriately. It is not appropriate to shift the insurance to the State. That eliminates competition, insurance companies, and gives more money to the State of California to mismanage.
100% well said Mary
Yes. And business insurance providers need to charge astronomical rates in high crime areas, where weak prosecutors refuse to enforce the law.
Well said. If you want to build and live on a coast, near a river, in an earthquake prone area of (in this case) area prone to wildfires, you need to pay more.
I purposely do not live in a high risk area by choice. There are affordable concrete dome homes that can withstand all natural disasters, those should be used more often for high risk areas. (IMHO)
@@johnrobi0 ok, you’re still gonna pay more 😂😂
@@iheartlreoy8134 Yes, we have to bear the burden for poorly run cities. Would be nice if the left wasn't insulated against their mistakes. But if they weren't, they'd be conservative.
It’s about time to stop rebuilding in dangerous areas. Insurance companies can’t keep rebuilding properties in areas with repeated burns. It is a racket. These people need to sell and move to a safer area.
Most policies will only pay replacement cost if you rebuild in the same place. Otherwise it's actual cash value, which is less. It creates a perverse incentive to rebuild in inappropriate places. A few companies offer walkaway coverage where they'll estimate replacement cost and just cut you a check, but they're usually more expensive.
just another way to get people out of the country and into the cities where they are easier to control.
Beachfronts, flood plains, wildfire zones, and cliffsides - nice places to visit but i wouldn't want to live there.
You can't fight mother nature.
Pro Tip: sell before they cancel your insurance.
Absolutely....the best plan yet. And relocate to a location NOT in a fire or flood zone.
Can you blame the insurance company, do you know the risk factor, this is in deed in a risk zone for fires, this risk cost is passed on to other farmers insurance public, and honestly they do not want to have to take on the risk for people to build in fire prone areas, insurance companies are rethinking the risks - can not blame them - they could go under with some of the risks.
I'm a fire hazard in the desert with absolutely nothing around says farmers
it is not true, now any area that has tree's and brush is high risk ..
Let everyone pay for their own risk. Hurricanes, floods, wildfires, what ever.
Farmers insurance is owned by Zurich insurance and last year they made 6.32 BILLION dollars and that was just until July.
Now, after operational expenses of which paying all politicians to stay in bed with them to screw YOU, net income was 1.10 BILLION dollars, still a hefty amount for only half the year.
One that can guarantee taking a bet that this property will not go out in flames in a year.
Sadly, you all need to elect better leaders WHO WORK FOR YOU. Just like Zurich is doing.
This is typical of the state of our society and news reporting. Blame the insurance companies for not wanting to insure against high fire risk and absolutely no discussion about mitigating the fire risk through brush reduction, controlled burns, etc. What do people expect the insurance companies to do? Go out of business when the fires burn out of control? Raise the rates on homeowners in low risk areas?
Absolutely Not…we expect them to do exactly what they are doing..take your money month after month year after year and when you need them they flick you like a smoked cigarette bud. Insurance companies are the best pump and dump cash grab schemes. It happens all over the country, insure a car but as soon as they get into an accident by no fault of theirs boom bye bye see you later you get dropped faster than a hot potato….the best part of it all…is that it’s legal…protect the billion dollar company and screw the ones that paid for years in the event something happens and when it does leave them high and dry…sounds like when I used to tell girls in high school I love them just to get some ass then never call again…real nice huh.
I was going to write the same thing you can't blame the insurance companies all the time.
Then they shouldnt have insured the house in the FIRST PLACE. man you people are dense af
it was not the governor who claim a disaster because the wild fire? and now look at what is happening.
@vikinghog,
I understand your point.
Insurance companies have to look at risk and consider what the cost to replace homes lost to fire and flood.
Real estate maps show those areas online - and the buyer takes the risk.
However, please consider this:
First of all, developments in San Diego commonly "plan" greenbelt areas that are adjacent to canyons and steep hillsides. That's one problem.
Clearing areas with rugged terrain is labor intensive, but not impossible.
Next, California had --- decades ago ---- a proactive plan for clearing brush and creating firebreaks DECADES ago: I'm talking about 1920 - 1990. The State hired workers through the Forest Service that managed and groomed the hi risk areas to prevent fires and stop them if/when they started. Watershed areas get overgrown and brush blocks runoff = flooding.
(I'm old enough to remember the San Gabriel Mountains being criss-crossed with 50-100' wide firebreaks which extended down to and included the Foothills. Hillsides near the breaks were disked in the Fall and Winter to keep brush down.
Santa Ana winds have been a regular occurrence time out of mind - nothing new.
When we had multiple fires in California 4 years ago, our idiot Governor had the President come and look; Gov. Newsom got a well deserved scolding because it's all due to negligence and mismanagement.
Newsom blamed it on "Climate Change" but many of us remember the decades of good management and know better.
Our current Governor (and his predecessors) have failed to implement prevention that was routine going back to the 1920s.
California has always been a region of potential fire and flood, but not as bad as it has become (again, due to long term negligence).
Until we demand that our taxes be used on our infrastructure inspection and maintenance, we will continue to endure losses.
Power lines that cross California were placed with the stated goal they would be replaced every 70 years by the utility companies. Southern California Edison, and Sempra Energy have not touched those installations for well over 70 years.
We are sitting ducks.
It is egregious that our so-called Planning Commissions never consider the long term needs of residents to prevent the catastrophic fires we have now.
Our state is being destroyed by passive and active neglect.
We pay the highest property taxes and prices for homes in the US and get nothing in return.
It's corruption, and it is centered in Sacramento.
Doesn't anybody think it's time that the state of California stops allowing Farmers Insurance to sell insurance in California! Black ball Farmers and see how they like losing California's business?
That is not the answer. Electric power companies in California, primarily PG & E, need to maintain and protect equipment, including protection from vandals. They need to be made to trim trees clear around power lines, like is done in Oregon.
Insurance regulations will kick you out of the state because of fraud, and this situation is not that. I think it is farmers business what policies it chooses to write and to pursue what they consider as good business. If they have made a mistake , there are plenty of companies who will take the business they don't want. As evidenced by the statement that other insurance is already in place, and they are now shopping for insurance at a lower cost.
No cause look at Florida most left state and they are stuck paying high rates with sub par coverage
I was looking and I was interested in a townhome in San Diego but looking at the complex and next to a bare hill I did not want to pursue it due the fire insurance liability.
smart move, if a person can tell by looking it is a risky deal, whatever insurance might be secured will only go up in costs, since the insurers know events will only get more extreme as the climate continues to deteriorate, just as science has always said.
Smart. These people bought the condos next to a slope where the winds blow uphill to their condos...a chimney effect in a fire. I've no idea why they would choose to buy in an obvious fire zone.
@@eckankar7756 The unmitigated liability could bankrupt a townhome owner.
@@Moondoggy1941 check out the liability before buying the townhome. I'd never bought that home with those conditions existing
I moved to Nevada. Bought a single family home for the 1st time in my life. Purchased home +car insurance & was with them about 10 years. Never had to file a claim, fortunately, but that didn't ever stop them from raising my rates every year--FOR NO GOOD REASON.
I stopped them & cancelled. The telephone rep for my agent said, "Thank you, Andrea, for being such a wonderful customer!"
I never responded. Just hung up. The ONLY reason they liked me was because I never had to file a claim!! That never stopped them from picking my pockets clean!
All insurance companies raise rates for no good reasons. Farmers is a known offender.
I’m sure you’ve complained to the supermarket, Costco, Walgreens, gas stations, Home Depot, Lowes, your water agency, your gas provider and electric company too. All those rates have gone up every year. Or you just like to beach about insurance.
If you didn't have the 500$ in HOA fees....
Yeh,
I can't believe they're paying so much. I'm up in WA and houses we've looked at had HOA in the range of $500-1200 a Year not month. for gate fees or community water.
@@eleventy-seven I have never researched that part of it, but other parts of HOAs are a huge scam. It isn't a surprise that that some are screwing residents over with huge fees of various sorts.
Can not sell shitty associations
@@eleventy-seven gates own?
That looks like a nightmare waiting to happen anyway without a wildfire
Why did this idiot buy a condo in a fire zone in the first place?
We had the same problem in San Diego with AIG. Our HOA insurance went up by 6 figures. They need to do brush control. The brush has grown up all the way to the fence line. If I did the same thing in my yard, the fire department would hire someone to get rid of the brush and charge me for it.
That's what I was wondering. I'm seeing lots of foliage and trees close to the condos and it doesn't look like they've cleared any brush or made fire breaks in the surrounding property lines.
They’re not allowed to clear stuff that’s not on their property
@@Fordgroup00 That is 100% wrong. I am responsible for clearing any brush within 100 feet of any structure on my property regardless if I own that property. Every year I clear brush on my neighbors land. The fire department comes out and inspects my property every year. They don't care about property lines when it comes to brush management.
@@davelindgren5245
😂🤦♂️🆗
Rake the forest, then get into your SUV and burn some more fossil fuels.
Don’t let Farmers back at Torrey.
What they need to do is clear vegetation fron the building at least 30 feet away to help prevent the places from going up on fire
The standard is 100 feet of clearance.
And...run a fire sprinkler system on the OUTSIDE of the house...Pipe running the length of the house with sprinklers every five feet or so...Like on the inside only over the top of the roof...Like an umbrella during a firestorm....Just a thought...
You'll never get a permit to manage overgrown vegetation in CA. Every plant is living and has a soul, not to mention the insects and lizards that live in the underbrush.
@@garryquiggins8183 Fire clearance to 100ft is legal required in California and enforced by fire departments. No permit required and you can be held liable if you don't do it.
That's no different than people in Florida being denied homeowners flood insurance if you life in a high risk area you'll pay for it one way or another
Everyone in America gets flood insurance through a federal program. It's windstorm coverage that's growing harder to get, especially anywhere near the coast.
Let everyone pay for their own risk. Hurricanes, floods, wildfires, what ever.
@@joho0 really I had read that because of coastal flooding it was real difficult to get flood insurance but that was about 20 years ago thanks
People who choose to live in high risk areas need to pay more instead of expecting those of us in a low risk area to subsidize their costs.
Let everyone pay for their own risk. Hurricanes, floods, wildfires, what ever.
Why should someone in Iowa subsidize a beach house in the Florida Keys?
Let the person with the beach house assume their own risk.
I don’t have a problem paying to live in high-risk area. What I do have a problem with is that insurance companies charge a premium when you move if they felt you called in too many claims in your previous residence . Even if those claims were not your fault.
@@sharons4611 That is the definition of high risk; more than average claims regardless of who is at fault. Insurance rates are based upon expected claims and actual claims. Just like a driver who gets more tickets pays more. Also, a driver who gets rear ended 3 times in a year pays more than someone who is never in an accident.
@@TheBandit7613 Finally! Someone who understands how it should work!!!😀
@@briangc1972 ok I buy it if the driver was negligent. But otherwise no. I also think that when that ‘bad risk’ follows you is wrong. Lesson learned, never live in a condo. 🙄
Price gouging once again by corporations....
Government sponsored fascist pigs
Insurance was the first thing that disappeared in Venezuela when things went south. Ca is not far behind
Well that will suck for all the poor republican states that live off subsidies from California. Here's a hint, CA is one of the net payer states in the country along with quite a few other Democratically-led wealthy states.
The STATE OF CALIFORNIA going to "assist" in finding the "state funded wildfire" insurance solution? Don't make me laugh. If The State gets involved with your insurance, just WATCH your "property taxes" spiral to tens of thousands of dollars. It's the excuse they need to get their hands on your homes around Proposition 13.
I have family in CA and from what they have told me, the State of CA has taken over the "wildfire" portion of home insurance. You have to buy that from the State. Their yearly insurance went from approximately $1000 per year to $10,000 per year. They have built millions of homes in canyons and on dry hills. These homes are surrounded by kindling and are in canyons that make it easy for fire to spread. It is a recipe for disaster.
Years ago, California was selling earthquake insurance. It fell apart and was completely nonfunctional from the very beginning. I think it only lasted about 2 years.
Life long LA resident, every yr if it isn’t the wild fires it’s the mudslides in Malibu that keep all our ins premium’s go up even though we don’t live up there. I realize these older folks plight but at what point will they understand the risks of living bear wild fire areas.
I have a 4 year degree insurance and 30 plus years of experience. When you have a mortgage on any property from single family to condo complexes. Insurance is required. If the the borrow fails to obtain it, the lender will purchase it at an even higher price, and their name will be first on the policy. The lender will be protected, the condo owners not so much.
Here in Florida, condo master polices have sometimes doubled, resulting in much higher condo fees. New legislation will require more frequent inspections and adequate reserves. Condo fees will rise drantically and condo values will sink, This is not a good time to own a condo in Florida.
Florida has had a state run insurance company since 2002. It has become the largest homeowners carrier It is very expensive and has not stabilized the market. Good luck.
Let everyone pay for their own risk. Hurricanes, floods, wildfires, what ever. Why should someone in Iowa subsidize someone's property on the beach in the Florida Keys? Let the person with the beach house pay for their own risk. We know 100% that a hurricane WILL hit that beach property eventually.
INSURANCE COMMISSIONER NEEDS TO BE CALLED AND WRITE LETTERS
As a non-California resident, I support the insurance company trashing these suckers. hahahaha Yes this gives my petty little soul great pleasure. Go steal $949 worth of something and crap in your streets.
I bet he knows what's happening, already been paid to look the other way.
these home owners should not have bought in a fire zone in the first place. The condos are by a slope, when there's a fire it's the chimney effect, the flames run right up to the condos.
Condo values just nose dived. I'm glad we sold and got out of CA.
The sad fact is that people living in other parts of the country are tired of paying higher insurance premiums to cover the losses in CA, TX and FL.
yes, we pay for their failure to plan for fire and floods.
Housing Debtors??? The vast majority using other peoples money to make money? The other parts of the country?
My home insurance with framers went up 1500. A year. It's ridiculous. I'm in AZ love lived in my house for 30 years and never filed a claim.
I just cancelled them in October for doubling my premium. I found one much cheaper.
I'm in Az, my home insurance with Nationwide went up $32.
Non debt "owners" are complaining about being forced to buy insurance without bargaining power.(just say no)..
It’s not a savings account. It’s a shared risk pool.
I’m in Murrieta CA and we are having the same issues with our insurance for our HOA. Our insurance went up and so did our HOA monthly fee. It’s crazy and needs to be addressed.
Non debt owners have complained about association debt owners controlling "their" propertys for many many years ...fascism nazis gestapo comes to mind..
Care to buy a "unit"..??
Ur fault for buying in an HOA. I don’t feel bad for you
It's difficult to find any home that is not a dump and not located in an HOA in SoCal. That is just how this part of the state was developed, hundreds of homes at a time. To find a home, not in an HOA, you are likely looking rural, ranch or farm, else something built back in the early 1900s.
When I looked at buying a rental in your area I made sure I bought on the ocean side of the 15 freeway vs the desert side. The desert side insurance was like $2,500/yr whereas the place I bought was only $750.
The journalist should do better research. The correct word is “non-renew” the policy, not cancel which is entirely different. The insurance company can only cancel within 30 days of inception or for misrepresentation.
the entire report was soft headed, one step away from click bait, with a fear based tone probably calculated to inspire loyal viewers , knowing full well how to trigger the basic human brain responses.
@@richardelliott8352 Another hack pretending to be a serious ‘investigative reporter’ but yes, your point is well taken.
Owned a condo in RB back in the late 90s & early 2000s. That area is a tinderbox especially coupled with the occasional Santa Ana Winds. Seems like every condo HOA is in some sort of lawsuit.
Now if it was revealed the wiring in the project was faulty and they cancelled the insurance for that would you think they were screwing you? Or maybe faulty plumbing? Could it be that you are looking at this all wrong. Can they be expected to insure your property at a cost that they know isn't enough and risk losing millions which will cost their other customers? There are two parties here that can get hurt not just the folks who live in this one project.
Coastal winds blow in up that hill, woosh, the chimney effect torches all those condos in minutes. This occurred recently in the San Diego area, so now insurers are alarmed by the risk.
Why did the home owners buy in a fire zone in the first place? Mr Wheelie won't get out in time...poof...up in flames.
This is going to get worse in 2023. Many carriers are re underwriting their positions based on new fire maps and better analytics of potential fire loses. More non renewal notices are coming.
As they should. Climate change is effecting the whole planet. Don't buy property in a fire or flood zone.
I'm amazed high fire risk buildings don't have external fire sprinkler systems.
You don't even have to do that. Close your eves, screen any attic vents, and move any plants to five feet away from the home does a lot to protect from fire.
They need to build fire walls and have a strict policy for all areas of no grass or plants within X amount of feet and maintain weeds that may occur in the future
Do you know the amount of water needed to take out a small fire, do you really think tiny sprinklers can help against wild fires? You underestimate the power of wild fires my friend....
We have a single family home in Rancho Bernardo. We had State Farm insurance that was cancelled after the 2007 fire even though we had no damage from that fire.
We have insurance for 15 plus years up until last year. The insurance company dropped out of calif. Had to get another at twice the price. Never had a claim either.
We did have farmers auto up until they made us pay the deductible after someone rear ended my wife’s car.
We had their DL, Insurance and registration information every thing but farmers did chit.
Never had a problem with AAA
@@Paiadakine Why did your insurance have to pay you in the first place if it was a rear end crash? They must have found your wife at fault. Unlikely the other motorist was uninsured. If it wasn't your fault yet you still needed your insurance for it then of course you will have to pay the deductible.
@@janet5135 they are bad also
@@johnbeckwith1361 Dude, half the cars on the road in CA aren't insured. When I lived there they were talking about allowing illegals to get a drivers a license so that they could have something to take away if they got into an accident because that's how stupid CA politicians are.
*I really don't even understand why we have insurance companies anymore because EVERY SINGLE TIME it comes to needing our insurance for SOMETHING what happens? They do EVERYTHING and ANYTHING in their power to weasel their way out of paying for ANYTHING and even when they DO pay they are the masters at low balling the price!!*
Sometimes it pays to look beyond the price, and into the quality of the product you are buying.
Yes, and in most cases of Insurance companies, the quality is shite. If you make too many claims, (legitimate ones) - they will drop you. Live in an an area at risk of natural disasters? (which is most places nowadays) - They will drop you. Get sick too often or have some long term disease? - Guess what? They will drop you or might not even insure you in the first place.
The state needs to sue the insurance company, and maybe prevent their company's from operating in that state.
Just cancel their insurance license, problem solved.
@@ckm-mkc dammit, that's smart.
Insurance companies should be penalized for fraud
Not just $$$ but jail time for the CEOs.
The department of insurance needs to take charge of this redlining…. Perhaps the state could enter the reinsurance market, and maybe some tort reform so the damn lawyers stop making fortunes off each tragedy
The media just ignoring that the aerial view at 1:38 shows clear evidence of a fire that burned the hillside? I get it, people want to live where they want to live, but to deny that they are ultimately responsible for the risks with living there isn't popular because I used to live in San Diego. Every year the wildfires would rage and every year people would lose their homes. I can't even tell you how many times the same neighborhoods burnt down and rebuilt before insurers and the state started refusing rebuilds.
Flour?
A mortgage at his age only in California. Everywhere else also her
The county is responsible for clearing that combustible vegetation. It's a tinder box waiting to happen.
Absolutely not cool!! They need to return premiums.
Smart move by Farmers. With all this rain and the fact that no one can clear the brush in those canyons (and most others for that matter) we are in for one nightmarish fire season.
You built in a desert and have a bear 100% chance of being burned out by wildfires . Insurance companies do not have unlimited funds and how can they insure such dangerous properties?
Farmers insurance is a joke.
30 years ago they canceled my boss's policy because his wife was hit head on in the snow by Tourist in an uninsured rental car. The accident was ruled 50/50 because of lack of evidence or something. The rest of the family then canceled their policies.
The whole family used the same insurance agent to insure everything for more than 40 years (vehicles and homes). Farmers lost payment from 5 houses, 7 adults over 40 years old. 3 more children over the age of 16 and all future policy holders. Just because they had to pay for an accident that was (allegedly) caused by an uninsured tourist who couldn't drive in the snow properly. Thats how stupid/greedy they are.
Sounds like it would be cheaper to have the brush cut back and to install some type of sprinkler system further out around the complex. Fix the wildfire hazard as best you can don't cancel the policy🤷🏾♀️
I live in a single family dwelling community in Sacramento County and pay $100/month HOA fee and receive maintenance and care of the front yard including tree trimming and if lawns become overgrown with weeds the lawn is replaced by the landscaping company contracted. I noticed a big jump in my water bill and contacted the company and the same day they came out and detected a leak in the sprinkler system and made immediate repairs. I live adjacent to a protected habitat and every year the county has the same person bring in his herd of sheep and goats for brush clearance. If I was paying $500/month in HOA fees I’d expect more from the HOA to assist with the maintenance surrounding the condo complex. Just my opinion
1:33 foreground looks like a fire already rolled thru & the complex dodged the torch 🔥 The Ins Co should give the HOA a list of conditions in which they Would issue policies.
These home owners should not have bought in a fire zone in the first place.
Don't look to Newsom to fix it. No one should be priced out of their home because of insurance.
Well, it seems that other parts of the country are finally experiencing what has been happening to homeowners in southeastern states for the past 15 years. It was very easy for those outside of the area to say, "why do those people live there"? Fires, flooding, and then land slides are a part of west coast living as are hurricanes and bad thunderstorms along the Gulf Coast. We also used to have Farmers insurance and after multiple increases of at least 25%, every year for 3 years in a row switched to Liberty Mutual and our costs when down 50%. Customer service has been phenomenal as well.
I live in Florida. I feel for you. We are having the same problems.
Absolutely crazy to buy a home in a fire or flood zone. Insurance companies should ban covering homes in Florida and California.
Home Insurance is in Jeopardy....call CALL CALL THE INSURANCE COMMISSIONER
Klaus Schwab did this. “You will own nothing and be happy.” All the corporation head as I thevWEF.
Thank you for covering this story
It’s really difficult to get home insurance in California now. Most insurers are leaving the state.
Check out AAA.
Same thing in Florida.
@@steven4315 at least you guys have good leadership
@@FreshlySnipes Respectfully disagree.
@@steven4315 I’ll trade you, come to California. lol
They are threating to make most of the state of Oregon high risk fire zone if you live outside a city..
Fake news
@@wesstubbs3472 Thats baby talk. Try misleading news or propaganda.
50 years in ny subburbs no insurance before shacks were million dollar profits, insured yearly at thousands (tens?) And would not sell..non debtor forced by fascists?..
We bought a house 3 yrs ago and State Farm wouldn’t cover our home because trees were to close to the house and we have a fire hydrant on our property!
Insurances are a scam they don’t wan to cover cars now homes? Wtf are they here for
Word on the street is that farmers is trying fto get outta Cali because they are loosing money here.
Farmers HQ is in California, but their owner, Zurich Insurance is Swiss.
any insurance company would....
Someone bring those goats.
But yes, previous commenter was correct about the “fresh air” vents under your roofs. Those were once required by the state but no longer are. You can cover them so embers don’t get in. The sooner the better. Also if you share a common wall with a nieghbor, have someone get up the in the attic and install a firewall. The HOAs will try to disallow this but they need to give if the State requires it, they cannot stop you. If my home catches fire because my HOA fails to remove a tree too close to my home, than my homeowners insurance should be able to sue my HOA’s Master Plan Insurance for not following state requirements.
Btw, my condo private homeowners went up 45 percent this year for reasons that don’t have to do with the fire risk though that will be comings next because we are within two blocks of another residential area that is in a high risk zone; an area totally capable of clearing. All condo owners in California are facing a 45 percent increase due to plumbing failures from upper floors flooding or damaging bottom units. The insurance companies decided they need more money to cover these expenses across the board.
$500 a month for HOA fees?! Wow! That's insane! And breaks my heart for the elderly to be in this mess.
Don't buy in HOA controlled complexes
@@glennbeadshaw727 worst thing someone could do!
Somebody in hoa were debtors and forced these insurances to steal the property..buyers beware..
Farmers canceled me after over 20 years with them. I live in nor cal, but in a town with air attack across the freeway and also in between 2 fire stations.. it’s a joke
The same is happening in Arizona in the wild fire areas.
As it should be. Don't buy a home in a fire zone, such a simple thing to consider before buying.
We are Farmers. We hope consumers will come away with the realization that we know a thing or two about insurance because we've seen a thing or two, over our nearly 90 years in business. AND WHAT WE KNOW NOW IS THAT YOU ARE CANCELLED.
Ya, they know when the State is letting the canyons become an extreme risk. They are smart to get out. It's rained a lot lately. Just wait until summer.
We saw the California state determination via our Laguna Beach Fire Chief. It indicates that they are basing their new fire/ tree cutting requirements are based on the Paradise Fire.. a very rate fire that actually the trees survived! This declaration wants all the large trees destroyed and mangled.
They want to cut the trees down because trees block the harmful 5g radiation.
I was a Farmer’s customer and they pulled out of my state entirely. I’ll never do business with them again.
Allstate is canceling too..
All over
if there's a disaster, California is usually involved.....it's a disaster prone state....
My home was literally just rejected for home insurance in Spring Valley by USAA for its proximity to a fire danger zone. What is going on?
Call Kemper.
It's the CA department of insurance, meddling in the insurers business lines
Climate change-it costs.
Companies dont want to take on the risk when their modeling says the likelihood of loss isn't covered by the premium charged. It is similar to Florida with hurricane insurance and homes by the water.
@@lauralinden6840
I DONT believe in Climate Change. the way the "promoters " use it.Everything changes..including us .
Its a money making .agenda..My face changes.My feelings change.Everything changes..including attitudes.
Climate?
That Swedish girl GRETA...bashes the West on climate change.
One reporter asked her.
" You complain about the West on climate change.
We HAVE NOT heard you speak about Saudi Arabia, Iran China about ehat you are advocating?
HOW COME?
NO answer.
Ignores the question.
NO ANSWER.NONE!!!
SHE probably was not given a prepared answer by her parents ( the force behind) or DOES NOT KNOW.
So..GRETA.."How dare you?"
HOW DARE YOU.
@@arseniaponseca9918 You actually edited this nonsensical mess? This is an example of climate change denialism’s functional illiteracy.
We need a policy like med I share and tell these companies to go away.
I’ve been insured with Farmers for years. Every year they’ve been jacking up my prices. 25% a year is typical. I switched, and pay a lot less now.
It’s easy to blame insurance companies for many things but think about it the next time a disastrous event is on the news and ends with ‘damage estimates are as high as___________’. Think about the magnitude of whatever the quoted figure is. Without insurance one medical or property liability claim could wipe me out financially. No, I don’t sell insurance policies.
I don't think insurance means what they think it means. They are crooks.
You gasp entirely why Benjamin Franklin invented insurance back in old Philadelphia. In that case it was only for fire loss.
Yes, this is happening in a variety of places around the country, the east coast being one example. The potential losses are simply to great.
Florida is gotten bad too.
@@rebeccamartin2399 Florida has big storms which are costly. Let everyone pay for their own risk. Hurricanes, floods, wildfires, what ever.
Disgusting! For profit insurance should be run out of business!
Hint the plants growing next to every home is a fire hazard plus no sprinkler system in case of a fire to protect the spotted owl.
Concerning earthquake insurance, I live in a condo and had state earthquake insurance for the longest time. A few years ago, I was shopping for a new homeowner's insurance and found a privately run earthquake insurance provider that is cheaper than the state policy.
I have no allegiance to any insurance company. Whoever can give me the best deal and service gets my business.
Competition is always good for the consumer. Make sure your insurer is what is called an "admitted insurer" and is therefor subject to the rules that make sure they will pay off. I remember rainbow car insurance that was out of the Bahamas , that got a lot of business for having the lowest prices around, because they never paid off, and only answered to Bahamian law, not having to answer to the California insurance commissioner. They eventually got shut down for fraud, but not before people lost a lot of money.
Lloyds of London, famous for insuring runners legs and unusual stuff, is also not a California admitted insurer, but I trust them .
Damn, I deliver to those complexes, like each one, I know those drive up/ways, and now we're probably gonna lose contracts because these people are gonna make their in home cooks shop themselves instead of having their food delivered as they have been doing for years...
This is happening in every state, with every insurance company.
An insurance company just wants to collect and not pay out as much as possible, and with climate change they are no longer able to do that. in the next 5 years, no insurance company can sustain, without charging monthly prices that no one will pay.
Who is going to pay $2,000 a month for homeowner's insurance?
More than taxes, more than the mortgage, and some more than both combined... and for what... Just incase? You would be praying for a disaster every 4 years, because 4 years of insurance is more than the value of the house.
And in those cases, the owner or insurance company will drop you because the insurance IS more expensive than the value of the house.
A condominium is the absolute WORST investment.
Blame the insurance companies? How about let's not build houses in fire ,flood or a landslide area dummies
I was in an accident caused by a kid running into the back end of my car while I was actually stopped at a red light....he decided not to stop. He was insured by Farmers Insurance and I had a very hard time getting them to pay for the damage. The reason I would never go with Farmers Insurance. I have had AAA Insurance for over 20 years now auto and also now home. Never have had a problem with them period.
I also have AAA insurance for 25 years, it's a good company.
I doubt he decided not to stop.
make sure YOU have UNinsured and UNDERinsured coverage with your plan. They are two different coverages and both are important.
@@eckankar7756 I know
Yup same issue in Anaheim Hills
I've been ripped off by Farmers twice. Very dishonest company.
class action lawsuit time Farmers needs to be brought to justice ASAP!
It is a private company. They are not legally obligated to insure you. You would have no case.
All that brush when dried is a powder keg of risk when hotter days come.. I’d say a smart move by Farmers.. No need to repeat ‘03 & ‘07.
Hahah. It’s Cali 😂 I love the Midwest! Power to flyover states!
A bunch of insurance companies pulled out of Florida several years ago due to repeated hurricane claims.
I don't blame them a bit...crazy to insure homes in Florida.
My guess is the state is regulating the premiums so the insurance company can't charge enough to pay for the risk. The only other reason an insurance company would exit a market is because the risk cannot be identified and quantified. And there, too, the state may be doing something -- such as refusing to allow controlled preventative burns -- to impact the risk.
California only regulates how low insurance can be sold for, to insure that a company will be able to actually pay claims, and not just declare bankruptcy and keep all the money, perhaps even setting up a separate company for each policy sold. there is no limit to how much a company might charge for a policy on the high end, so it pays to shop around and know in detail the product you are buying.
I once talked to a fire captain who had over the years managed to put himself in a real nice financial condition. It was his habit to lend his son in law his large SUV to go ahead with the family to the mountain cabin on some week ends and he would follow them up later when he got off work. He just about freaked out when he learned his multi million dollar liability policy reverted to the lowest legal minimum if he lent out his car and could possibly loose everything if son in law had an accident going to the cabin. He hadn't looked into the details of his coverage, and just looked at the usual coverage limits and went for the best price, buying off a TV ad, and getting a policy entirely on the internet.