Detective D
Well-Known Member
I don't live in CA. I can't speak to the issues going on there from personal experience. I live about as far removed from coastal BS as possible without living in the mountains as a hermit.
However, apparently CA is working to allow the insurance companies to use speculation to set rates on home insurance. In return, they will be required to cover homes.
Now, this can be worded in a way that maybe makes sense on it's face, but ultimately the government requiring insurance coverage and how insurance works(everyone pays in so when a claim is made that person is covered) means everyone will foot the bill for government mandated insurance. Sounds like a loosely related to obamacare approach.
My concern is this will go nationwide if it benefits the insurance companies(it will, for certain) due to their lobbying power. Then I will get to foot the bill for people living in stupid *** places. I will get to pay premiums for the people living in hurricane areas, flood areas, and yes, wildfire areas. This is the first step in letting the insurance companies get back to making absurd profits(which they dump into the stock market) after a stretch of bad luck. They made sure to throw climate change in there lol, can't talk about something with the most recent buzzwords!
Future state the WEF does not want people owning homes. As others have mentioned about old cars in various other threads, insurance can be a tool to push people out of them. Once the government requires coverage to be available, it is only a matter of time before they require everyone to have it. I feel bad for people that can't get their home covered, it is a huge investment to not have that back up plan financially, but long term this is going to end really badly IMO and people need to deal with their own problems sometimes instead of expecting the government or the rest of society bail them out. This will be open season on the insurance companies cranking rates for everyone regardless. This serves as their excuse to spread it to everyone instead of creating ill will by localizing the risk. Like obamacare, it becomes taxpayer subsidized insurance, once removed, to avoid legal issues and other things that all end up falling in favor of the big companies.
However, apparently CA is working to allow the insurance companies to use speculation to set rates on home insurance. In return, they will be required to cover homes.
Now, this can be worded in a way that maybe makes sense on it's face, but ultimately the government requiring insurance coverage and how insurance works(everyone pays in so when a claim is made that person is covered) means everyone will foot the bill for government mandated insurance. Sounds like a loosely related to obamacare approach.
My concern is this will go nationwide if it benefits the insurance companies(it will, for certain) due to their lobbying power. Then I will get to foot the bill for people living in stupid *** places. I will get to pay premiums for the people living in hurricane areas, flood areas, and yes, wildfire areas. This is the first step in letting the insurance companies get back to making absurd profits(which they dump into the stock market) after a stretch of bad luck. They made sure to throw climate change in there lol, can't talk about something with the most recent buzzwords!
Future state the WEF does not want people owning homes. As others have mentioned about old cars in various other threads, insurance can be a tool to push people out of them. Once the government requires coverage to be available, it is only a matter of time before they require everyone to have it. I feel bad for people that can't get their home covered, it is a huge investment to not have that back up plan financially, but long term this is going to end really badly IMO and people need to deal with their own problems sometimes instead of expecting the government or the rest of society bail them out. This will be open season on the insurance companies cranking rates for everyone regardless. This serves as their excuse to spread it to everyone instead of creating ill will by localizing the risk. Like obamacare, it becomes taxpayer subsidized insurance, once removed, to avoid legal issues and other things that all end up falling in favor of the big companies.