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“People Getting Killed on Insurance Rates” - CA Insurance Companies Pulling Back from the Market
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26,666 Views • Apr 4, 2024 • Click to toggle off description
As the risk of wildfire crisis escalates in California, insurance companies are opting to withdraw from the state, citing heightened risks and increasing financial burdens. This exodus is resulting in a slowdown in insurance availability for homeowners and causing a surge in home insurance prices as the remaining insurers face greater pressure to cover the heightened risks. Consequently, homeowners in California are grappling with both reduced access to insurance coverage and the burden of escalating premiums amidst the wildfire crisis.

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Views : 26,666
Genre: Entertainment
Date of upload: Apr 4, 2024 ^^


Rating : 4.695 (59/714 LTDR)
RYD date created : 2024-05-04T00:38:54.577499Z
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YouTube Comments - 203 Comments

Top Comments of this video!! :3

@bracketengineer

1 month ago

I have more respect for Cuomo after this interview.

49 |

@fundsinthesun4221

1 month ago

Adam can't even tread water in these conversations.

16 |

@shannonfishkill8957

1 month ago

Florida’s insurance is out of control as well

20 |

@RandomCaliforniaAdventure

1 month ago

My AAA insurance went from $980 in 2014 to $1200 in 2020 to $3472 in 2023...I declined! I live in a relatively decent place with little to no hazard risk. Why am I paying an arm and leg? I also received a notice for my car insurance rate as well. They are increasing the rate due to "inflation". Okay if inflation is being charged to my vehicle and home, why am I not getting the same "inflation" in terms of earning to negate this. Yes, California is literally a shit show here!

13 |

@CalMob4

1 month ago

I work in Auto Claims and most of the companies went close to insolvent. I worked about 10 claims a week in 2019. I'm swamped now doing about 25. 1.) People driving crazy 2.) Cars are more powerful 3.) Illegal immigrants. Yes no one talks about it but most of the people coming here are not legal, don't have a drivers license, the agents lie and are using their passport or a fake# as an international drivers license 4.) Unlisted drivers, people letting their kids drive or doing a straw purchase of insurance for dangerous drivers. This is why. 25% of all the claims I'm processing are with illegal immigrants. I work for one of the largest companies in the country.

23 |

@RMJTOOLS

1 month ago

The wildfire risk in CA is actually a problem caused by the state due to poor forestry management. Almost as though the insurance companies have influence at the state level.

21 |

@joeydiaz5927

1 month ago

Adam is the most self-centered person in the world extremely close minded when he feels defensive

8 |

@t206kid

1 month ago

Funny thing is a lot of wildfires people will blame climate change. A lot of it has to do with the lack of maintaining these forests and it's the fault of the Federal and Local governments.

42 |

@randal3122

3 weeks ago

i actually agree with cuomo on this one. i live in california in the hills. the previous owner paid 2,500 a year in homeowners insurance. two years later, i pay 12,500 a year. something is seriously wrong with the insurance industry in this state

5 |

@crazycashlarry

1 month ago

Tom’s pimp joke towards Adam was hilarious. 😂😂😂.

7 |

@user-nw6ro6mp4t

1 month ago

Insurance is one of the most currupt things in our country. Insurances are literally ponsy sckeem company's now . There charging a fortune, way beyond what they should be. Insurance are literally and deliberately charging people money knowing they have no intentions of covering them when something happens. Insurances are the biggest and most open fraud going on in our country

5 |

@mitchfrazer

1 month ago

At least 50% of the cost of insurance in Calif has to do with the cost to fix. In Calif, itt cost $650K to build a 1500sqft house. It's costing me $65K to replace my deck (425sqft). $125K by adding a enclosed storage room under it.

3 |

@codelessunlimited7701

1 week ago

Our car insurance has increased $200, but I call couple of insurance and this is the cheapest one. Wtf??!!!!

1 |

@vapinbachelor289

1 month ago

My mortgage payment jumped by & 200.00 a month in NC.. doesn’t cover Hurricanes.. imagine that bs

14 |

@devinrobinsonx4442

1 month ago

Adam dates women who don’t have fathers they respect…

5 |

@mr220v

1 month ago

Property insurance in Florida and California is like insuring an 18year old's sport bike.

5 |

@andip.6060

1 month ago

No adam.not "women" are ready by 8. "Young girls" are. I am with chris on this

3 |

@mitchfrazer

1 month ago

A new house in Calif requires solar panels and a fire suppression system. Solar panels cost at least $30K. It cost $1k to hook up a 3/4inch water main to a house. Fire suppression systems require a $10K 1inch water main connection. The fire suppression system cost at least $30k. Permits are at least $30k. Replacement cost is a major factor with insurance cost.

4 |

@user-mo3so6gk4q

1 month ago

In fact you can control wildfires.

6 |

@lydiasinclair1126

3 weeks ago

First time I've agreed with Chris. I'm in the insurance industry and see this every day.

1 |

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