Are the Insurance Companies going to PAy $2 billion to the?

Question

South California Home victims.Hey Californians we can take care of u here in Houston

Answer 1

They would have to pay out on the insurance but then do not need to renew. And no one says the rates will stay the same.
We need to do some real investigations of those insurance companies... its one thing to make a profit, its another to just want to take money without giving worth.
Fire is just about the only thing you are covered for, if they no longer pay out on that, they aren't worth anything at all.
Flood insurance has long been a government program, insurance companies got out of that. They claimed it was flooding by storm surge that damaged building in Katrina, way inland, not wind and rain damage, because they cover wind and rain damage.

Answer 2

They have to have the money before they can pay it. Considering all the other disasters they cover, I would not be surprised if they try to reduce their payout. Think about it, where do you think their money comes from? Policies and investments. Now figure out how much each person in the state of CA would have to pay just to cover this fire debacle. Probably more than anyone pays in a lifetime of insurance payments. Same thing happened in FL a few years back when all those hurricanes went through. More cost in damage than the insurance companies could pay. They said - bye.

Insurance is a joke. Those companies are hoping nothing goes wrong so they can keep collecting fees and we who buy it are betting something will happen so we can use it. More incidents that happen the more insurance costs.

Answer 3

I was wondering the same thing. With all that has happened the insurance companied should be screaming before to long. I wonder when they will bump up the rates?

Answer 4

Insurance companies pay??? Ha Ha I'm sure there will be some kind of loophole.. except for the very rich of course.