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rreschran

Re: WIldfire Insurance?

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Posted (edited)

In light of California's wildfires and to those tow companies in other fire states, have you experienced (yet) a raise in your total insurance coverage for wildfire?

 

My small business is situated in my home and we were just raised $6,000 ... no questions asked ... just pay up. If you haven't been HIT yet, best to start looking now as the smaller insurance companies are fastly NOT providing wild-fire coverage. Also, California Fair Plan is hugely expensive and don't even consider them unless it's your very last resort. Good Luck.   R.

 

 

Edited by rreschran
word choice

Randall C. Resch

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WOW is all I can say! All my coverage together, also being home based, does not add up to your premium increase. That said, northeastern PA is not known for wildfires and I am way above the flood plain, so my exposure to natural disasters is limited. Our largest concerns include wind and hail damage as well as structure collapse form excessive weight of snow on our roofs.

 

Randy, do you think this has anything to do with PG&E declaring bankruptcy after their involvement in the wildfire last year? Or do you think this is more of the insurance underwriters grabbing cash while they can because of a general tightening of the market?

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Hey Brian .. SDG&E is looking to slither out from their responsibility of allegedly starting (wires down) back country fire. You're right on both fronts. Even as a USAA member for 35+ years, we've been Jacked-up. Ans, as we speak, i'm neevously watching a 150 acre fire 15-miles to our west. It's tinder dry out here and the slightest error could result in another wildfire of epic consequences.


Randall C. Resch

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