How Insurers Game Out Disaster Risk and Drop Customers
https://www.wsj.com/finance/how-insurers-game-out-disaster-risk-and-drop-customers-0c5b9cb4https://archive.ph/lKGwK
How Insurers Game Out Disaster Risk and Drop Customers
Companies are trying to cut their exposure, but their methods can be flawed
By Jean Eaglesham
April 27, 2024 5:30 am ET
CSAA Insurance Group refused to renew its policy this year on the home that Ronnie de Supinski owns with her husband, Bronis, in Livermore, Calif.
The reason given? Wildfire risk. The wildfire-risk score sent by CSAA? Zero.
As insurers suffer rising losses from wildfires and thunderstorms, they are using scores and models of natural perils to cherry pick which properties they insure, and set their rates.
Insurers say this helps keep home insurance available in disaster-prone areas, by allowing them to predict and manage risks. Consumers and industry analysts question how fair, accurate and reliable the tools really are.
...
= new reply since forum marked as read
Last edited Sat Apr 27, 2024, 12:06 PM - Edit history (1)
I had to file a claim last year as that ice storm knocked the 82' fence down. The insurance wanted it rebuilt and all new posts sunk in concrete.
Luckily, I found someone to do the job.
The rest of the damage I paid for which included rebuilding part of the other side of the fence and repainting portions of the house itself. That ice storm took the paint right off of the house! Yikes!
The premium went up close to $300 for the year. A friend of mine that lives in Calaveras county lost his place in one of the fires and his insurance with Farmer's has tripled in price to close to $4,000/year.
So, I didn't say anything about the increase and paid it which was as much as the property taxes are for six months!
It is such a scam! Damned if you do and damned if you don't! 
& recommend.
