Home insurance was once a ‘must.’ Now more homeowners are going without | Slammed by pricier policies and climate-driven natural disasters, more and more Americans are exposing themselves to risk
Slammed by the rising price of policies and climate-driven natural disasters, more and more Americans are exposing themselves to risk and forgoing home insurance.
Anyone going without home insurance is paying cash for their house. No bank would give someone a mortgage on a property that could turn to ashes with no insurance.
I can absolutely see why people go without it. Hell, my brother's friend had their family home lost in a fire. They had a ton of old ttrpg type books and games. Insurance was apparently doing whatever they could to pay as little as possible or nothing. Home insurance has become a scam because most companies will charge you an arm and a leg and then when you finally need to use it they'll automatically deny all claims and then act like they're the victims.
Weird this is totally based on California when Florida has seen similar situations with the relationship between Insurers and the state where pulling out is so prevalent the common carrier of default is now flooded with new customers and claims.
Citizens insurance is now who carries the burden of the majority of the house insurance market in the state and there's not enough of climate denial and deleted global warming on paper the governor can do to make this go away.