jeffw@lemmy.worldM to News@lemmy.world · 13 hours agoThe California fires could scorch the state's broken insurance marketwww.motherjones.comexternal-linkmessage-square14fedilinkarrow-up156arrow-down10
arrow-up156arrow-down1external-linkThe California fires could scorch the state's broken insurance marketwww.motherjones.comjeffw@lemmy.worldM to News@lemmy.world · 13 hours agomessage-square14fedilink
minus-squareArbitraryValuelinkfedilinkEnglisharrow-up12arrow-down2·12 hours ago Nationally, large insurance companies net an average profit of 4.2 percent on insurance transactions. In California, they lose more than 6 percent. So why do they offer insurance in California at all?
minus-squareRustyEarthfire@lemmy.worldlinkfedilinkEnglisharrow-up8·10 hours agoMost of them are leaving. I think the ones remaining rely on bundling with other insurance or services.
minus-squareBombOmOm@lemmy.worldlinkfedilinkEnglisharrow-up9arrow-down1·edit-211 hours agoThey will have to charge more. Get ready for the 10+% rate increase next year if you live in CA.
minus-squareSpaceNoodle@lemmy.worldlinkfedilinkarrow-up3·7 hours ago10% is low. Look for 50-100%, or worse.
So why do they offer insurance in California at all?
Most of them are leaving. I think the ones remaining rely on bundling with other insurance or services.
They will have to charge more. Get ready for the 10+% rate increase next year if you live in CA.
10% is low. Look for 50-100%, or worse.