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
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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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.
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.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.
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.
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