Many California homeowners are concerned about their home insurance, and that anxiety ratcheted up when State Farm requested one of its biggest rate increases ever.
The bigger problem is landlords have already been gouging renters. They aren't just going to absorb this one, if their insurance goes up 30, they will raise rent 40
It's going to be true in parts of the country without wildfires too. For the second summer in a row, we had a devastating storm come through with 80mph+ shear winds which destroyed half the trees in the neighborhood. Obviously they fell on houses and cars. The power was out for a good day and a half and then went out for a good 10 hours again yesterday (we were gone for most of that one thankfully). This morning, a water main broke and I doubt it's coincidence, so we're under a 24-hour boil order now. We lost two of our own trees and it cost $3200 to get them taken care of. One hit the neighbors' garage, but apparently their insurance will have to cover that. Insurance doesn't cover downed trees. How long before they start raising our rates because of these storms causing home damage?
In my personal experience, basically no insurance in America is worth anything.
Nothing you would actually need insurance to cover ends up being covered, or, it covers a huge portion of an absurd cost which is only so absurd because of basically a corrupt cost inflation feedback loop between insurers and providers that you end up personally paying prices that are absurd to all but the very well off.
It ends up just being further cost requirements to basically exist, which means if you are poor fuck you, die.
Oh you want to challenge your insurance and force them to actually cover something?
What are folks doing in those cases? Where I live you can't get a mortgage if you don't have proof of insurance and until your loan to value in hits a certain amount the bank basically manages the policy.
Oh, if you can't get insurance, most all mortgages have a clause that says the bank can pick a policy (usually a really expensive one) and you are forced into it. Wonderful, isnt it?