So, the insurance companies and Sacramento are bracing for the numbers related to the conflagration in southern California: they will be bracing. The pictures we have seen tell everything: block after block of rubble piles with maybe a chimney or two. History repeats itself. Gavin Gruesom, governor, has signed a law suspending the CEQA environment review necessary to build anything in the State from an outhouse to a high rise. His advisors tell him to get ahead of the curve/wave.
Sorry Gavin; you've got 2 more years in office and most of that time will be spent parrying Trump's arrows flung across the country in an attempt to quash any of your ideas about going to Washington in 2028. Who will suffer: homeowners who lost their homes to fire. For starters new homes built since 2001 have had to have fire sprinkler system installed during construction, including garages. Not cheap but cheaper than insurance premiums are sure to be. And Ricardo Lara, erstwhile State Insurance Commissioner, will be arguing mightily with insurers to keep rates under control. Good luck, Ricardo-ain't happening in your lifetime or Gavin's. These rate hikes will drive even more high earners to Florida and Texas where they will spend their dollars on real estate in Austin and Dallas. So long tax dollars, hello deficits.
And on top of it all, insurers will do their usual scrutiny of all claims as the homeowners cast about for help. This charade in Sonoma and Napa counties 5 years ago led to extreme discord among Sacramento politicians whose phone were deluged with complaints about settlements that in some cases didn't happen. Even the revered company USAA was ordered to pay claims they denied in their largest market outside of home base Texas. The company got reams of bad press, well deserved. State Farm and others had cancelled many policies in LA county BEFORE the fires began. How many homeowners were forced to go to the outrageous state FAIR Plan? Unknown at this time.
Get ready for California political shenanigans, AGAIN.
What is "dharma" rain? It's a defensive system of sprinklers that is installed on roof tops to thwart the spread of fire that is wind driven into built up neighborhoods. Works great and is cheap to install, even cheaper than indoor systems which require permits and skilled plumbers. Been around for a long time.
No comments:
Post a Comment