Colorado hit by increasingly dire wildfire-driven insurance exit

Wild Fire Today ^ | 1/30/24 | Hunter Bassler

[Roman_War_Criminal]

Insurance isn’t the sexiest topic to either write or read about, but an extreme weather-driven downtrend of insurance agency availability is tightening the noose on an already suffocating national housing market.

The U.S. had its highest number — 28 — of annual billion-dollar weather disasters in 2023, including the Lahaina wildfire, California flooding, and Tropical Cyclone Idalia in Florida, according to a NOAA report. Homeowner insurance agencies’ response to the continually rising costs has either been to drastically increase their insurance rates or to back out from certain areas entirely.

The dire situation first made national headlines last year when numerous agencies, including State Farm, Allstate and Farmers, either paused or placed heavy restrictions on policyholders in wildfire-prone areas in California. Seven of the state’s top 12 insurance agencies have put the restrictions into effect as of November, ABC News reported.

Colorado appears to be the next state to face extremely tight, or nonexistent, homeowner insurance policies caused by increasing wildfire threats. The Durango Herald recently reported the average homeowner insurance premium in the state increased 51.7 percent between January 2019 and October 2022. Meanwhile, some new homeowners in the state are having trouble getting policies at all.

[metmom]

Way to force homeowners to by state provided *insurance*?

Or just take their chances and risk losing everything?

[who_would_fardels_bear]

This is how they will get us all to ride the bus:

1) Force ICE cars off the road and replace with EVs only
2) Increase electricity and insurance prices so only the very wealthy can afford to drive EVs
3) Allow (encourage?) insurance companies to stop providing coverage either because of the battery/maintenance issues of EVs or because they're just not politically correct

[who_would_fardels_bear]

Insurance companies are now only taking money from people who really don't need insurance.

It's called "risk management". The latest scam from McKinsey.

[drwoof]

Democrats/Marxists just fine with this. The Ruling Class doesn’t need to worry about the cost of insurance. They’re just fine with the unwashed middle class being destroyed, and the remnant elements of society being forced into high density/soul-crushing ‘affordable housing’.

[CoastWatcher]

Typical DemonicRats.

As the Great Ronaldus Magnus once said; “A rising tide raises all ships”.

The opposite is also true.

These people will be shocked when their boats are stranded on the sand when the finally stop the tide.