this post was submitted on 23 Jul 2023
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It's a very bad time to be an insurance company, especially with dead weight like Florida, and parts of Texas (hurricanes + mold/water damage from losing power for a week, lol) that are constantly getting destroyed and rebuilt on the exact same floodplains.
And California. There's a few reasons why a company as big as State Farm (the largest home insurer in the state) stopped writing new home policies there, largely the natural disaster risk.
https://calmatters.org/housing/2023/05/state-farm-california-insurance/