CA Fires

[dennishoddy]

Some drone footage of the devastation in Paradise. For those just joining it was a town of some 30,000 residents.
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Amazing how some homes were untouched while all around them were totally destroyed. Terrible

 

[John6185]

Malibu homes of the rich and "famous." I wonder how many people had insurance and how many didn't? I don't know much about the area if some people were "getting by" or wealthy enough to pay for homeowners insurance. There are people living in tents I heard today, are they protecting against looters or is that their only recourse? Those that didn't have insurance are going to be hurting, and those are the ones that need assistance-not the Hollywood screwballs.

 

[inactive]

Homeowners insurance in California is about half to a third the rates we have here. They have separate earthquakes policies like we do, but the standard homeowner policies are much cheaper given the much lower risk of perils (basically wind or hail risk at all).

Been a while since I looked but their rates were pretty high as far as insured properties go. The lower premium helps.

 

[dennishoddy]

Homeowners insurance in California is about half to a third the rates we have here. They have separate earthquakes policies like we do, but the standard homeowner policies are much cheaper given the much lower risk of perils (basically wind or hail risk at all).

Been a while since I looked but their rates were pretty high as far as insured properties go. The lower premium helps.

I heard on tv today the average home price in Malibu was 1 million dollars.
I don’t doubt it.

 

[Dave70968]

I've never heard of a lender that didn't require insurance (ditto auto lenders) while the loan was still outstanding, so unless the residents owned the place outright, it was almost certainly insured.

 

[SoonerP226]

I've never heard of a lender that didn't require insurance (ditto auto lenders) while the loan was still outstanding, so unless the residents owned the place outright, it was almost certainly insured.

That's why a lot of people with a mortgage have an escrow account--the lender wants to make damn sure that the insurance (and taxes) get paid so they don't get stuck holding the bag if stuff goes sideways.

 

[SMS]

Malibu homes of the rich and "famous." I wonder how many people had insurance and how many didn't? I don't know much about the area if some people were "getting by" or wealthy enough to pay for homeowners insurance. There are people living in tents I heard today, are they protecting against looters or is that their only recourse? Those that didn't have insurance are going to be hurting, and those are the ones that need assistance-not the Hollywood screwballs.

I'm not sure about Malibu, but a lot of the places that burned, like Paradise, were full of working class and retired folks. They might have insurance but the sheer amount of devastation in those areas means they aren't going to be able to just go check into a hotel...the hotels burned down too and the ones that didn't are pretty far away and/or already full. That also means they aren't getting a check from their insurance company for awhile. Crappy deal all the way around. Definitely brings to light the need to keep a bug-out kit of some sort.

 

[ignerntbend]

What they need to do is rake the floors. Finland is a forest country, and they rake the floors, and they don't have any problems.

 

[SMS]

Yes, we should aspire to be more like the Europeans....LOL.

 

[ignerntbend]

Just the floor raking. The floor raking is what they do and we should do to. They're a forest country. A forest country. They rake the floors. They don't have any problems.