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Originally Posted by CoachKandSportsguy
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Nothing new -
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Allstate had previously paused new homeowner policies in California from 2007 to 2016, after state regulators questioned the company’s request for a 12.2% rate increase.
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Also not surprising, they're not the only ones who've pulled out of the state because of increased risk of fires, inflation, and "re-insurance" costs, according to the article.
California and Oregon are HUGE fire hazard areas. Just like trying to find hurricane insurance that covers roof replacement costs in Florida is a nightmare, trying to find affordable homeowners insurance in a literal hotbed of tinder is a nightmare.
It didn't used to be this bad but - the "climate change that isn't happening" has been getting worse over the years, and now it's not happening enough to impact homeowners insurance.