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2,708,818
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    It has gone from Risk Management, to Crap Shoot.

    The odds are against them; they will lose money and they know it.  

Jun 05, 2023 02:51 PM
Rainmaker
1,643,917
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker, Notary

Give 'em a few years and they'll be back.  It's too big of a market to ignore.

Jun 05, 2023 06:40 PM
Rainmaker
957,979
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Like a bad neighbor, State Farm isn't there  .   .   .   .   .   .

Jun 05, 2023 05:36 PM
Rainmaker
1,113,919
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Sorry to hear this...they did the same in Florida after the storms in '04. We had all our insurance with them for 20 years, never a claim, and were canceled a couple years later. And yes, it's all about the Benjamins...

 

Jun 05, 2023 07:29 PM
Ambassador
3,662,852
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

It's a serious situation for all those CA folks that have relied on these carriers for many years.  On the other hand......CA needs to make some changes and I sure hope that happens for all of you.

Jun 05, 2023 02:57 PM
Ambassador
4,982,639
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Insurance is such a scam, collect huge premiums every month, then deny every claim, haha.

Jun 06, 2023 05:17 AM
Ambassador
3,268,312
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

Like Forrest Gump, many are running away...

Jun 05, 2023 06:18 PM
Ambassador
3,431,217
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

It is always about money and a poorly run state.  Saying "poorly run" is being kind. 

Jun 05, 2023 05:33 PM
Rainmaker
8,156,402
Roy Kelley
Retired - Gaithersburg, MD

Larger and expensive challenges for home owners.

Jun 05, 2023 03:03 PM
Rainmaker
942,437
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Not surprising. A friend who has a home at Carolina Beach said her insurance just doubled! 

Jun 06, 2023 05:56 AM
Rainmaker
5,488,270
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

The companies that provide insurance coverage are designed to be profitable. It is becoming impossible to do so. Even the reinsurance providers are finding tough sledding. As Fred Griffin Florida Real Estate said the business has become a crap shoot and lately they have been rolling craps. As business people they know the to fold-em and when to run.

Jun 06, 2023 05:21 AM
Rainmaker
2,850,026
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

All governor Newsom has to do is come up with a fire prevention plan but no, instead, he lets businesses die and law-abiding tax paying citizens suffer

Jun 05, 2023 01:48 PM
Rainmaker
1,293,076
Peter Mohylsky,
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

I think we all saw it coming.  This is one place big government needs to step in unfortunately.  It has always been about the money, but the average joe gets slapped down every time.  

Jun 06, 2023 05:50 AM
Rainmaker
1,101,689
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Oof! Them too . . . yow!

Jun 05, 2023 05:07 PM
Rainmaker
1,446,248
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Yes. Insurance companies are about money. Paying fire damage claims for the last few years has pushed two major insurance companies to the brink of California risk. Yet, they will be back when they deem the risk is lower and the market makes sense to them. When? That is the big question.

Jun 06, 2023 10:01 AM
Rainmaker
6,008,831
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It is all about the money!   Pretty soon insurance will be very expensive in CA, with not as much competition.

Jun 06, 2023 06:45 AM
Rainmaker
5,205,763
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Not sure if I am thrill with insurance companies pulling out of area.

Jun 06, 2023 09:34 AM
Rainmaker
1,539,194
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yep.  I'm sure they won't be the last.  Those that are still here are looking to cancel policies too.

Jun 06, 2023 08:58 AM
Rainmaker
1,650,860
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC • Short Sale • Probate

Don't forget a strong possibility of earthquakes and political mess~ yep, we love living in here. 

Jun 07, 2023 01:04 PM
Rainer
59,931
Chris Jones
NEXA Mortgage, LLC 1660690 - Chicago, IL
Mortgage Loan Officer

Insurance has gotten out of control expensive.  We are seeing 45% increases from last year in Chicagoland.    

Jun 07, 2023 07:00 AM
Ambassador
6,692,882
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Casinos like to have a sure thing, unlike their customers who they expect to be on the losing side of things.

Apparently that environment does not exist in California.

Jun 06, 2023 08:33 AM
Rainmaker
663,043
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

California is a recipe for disaster and all the insurance companies that want to remain in business are smart to runaway.

Jun 06, 2023 07:52 AM
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