jeffw@lemmy.worldM to News@lemmy.world · 21 days agoThe California fires could scorch the state's broken insurance marketwww.motherjones.comexternal-linkmessage-square9fedilinkarrow-up125arrow-down10
arrow-up125arrow-down1external-linkThe California fires could scorch the state's broken insurance marketwww.motherjones.comjeffw@lemmy.worldM to News@lemmy.world · 21 days agomessage-square9fedilink
minus-squareArbitraryValue@sh.itjust.workslinkfedilinkEnglisharrow-up7arrow-down1·21 days ago Nationally, large insurance companies net an average profit of 4.2 percent on insurance transactions. In California, they lose more than 6 percent. So why do they offer insurance in California at all?
minus-squareBombOmOm@lemmy.worldlinkfedilinkEnglisharrow-up3·edit-221 days agoThey will have to charge more. Get ready for the 10+% rate increase next year if you live in CA.
minus-squareRustyEarthfire@lemmy.worldlinkfedilinkEnglisharrow-up1·21 days agoMost of them are leaving. I think the ones remaining rely on bundling with other insurance or services.
So why do they offer insurance in California at all?
They will have to charge more. Get ready for the 10+% rate increase next year if you live in CA.
Most of them are leaving. I think the ones remaining rely on bundling with other insurance or services.