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Every homeowner in the state is going to be forced to pay to rebuild burned-down homes in high fire risk areas. This is not fair and we should repeal Prop 103 so it never happens again.
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San Francisco Chronicle
@sfchronicle
NEW: The California FAIR Plan does not have enough money to weather the impact of the record-breaking Los Angeles wildfires on its own. Most California homeowners will have to pay a charge as a result. trib.al/4GRu08O
David Watson 🥑
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You voted for the criminals who ensured this would happen. You're no victim here pal. The sane people of California who didn't vote for a sociopathic moron are victims. Remember, you said "yes in my backyard"... Welp, you'll be glad to know all you idiots (plus the decent
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I did not vote for prop 103 because I was two years old when it passed with 51% of the vote in 1988.
If you took the time and effort to clear large flammables from the perimeter of your house and install an ember dousing sprinkler system sufficient to protect your house for the surprisingly short period until a fire blows past? Too bad get fucked, you're paying to rebuild
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Agree, it doesn't make sense to subsidize building in inherently risky areas, which is what 103 does. That doesn't mean people can't live there, but they would have to take on that risk themselves (likely by forgoing insurance) rather than expect others to pay.
It’s also worth looking at the last time this happened at why! Ultimately insurance companies couldn’t afford to continue providing earthquake insurance and I think that will end up being the same for wildfires and other natural disasters
Yeah I mean the fair plan should charge what the proper amount is for insurance and if it runs out of cash people will get paid proportional to what it has versus total obligations. Say 90cents on the dollar if that’s what it takes. Then rates can increase to match costs
If FAIR doesn't have the funds then their premiums were too low. Options 1) payout a pro-rated portion (haircut) to FAIR customers 2) add a sur-charge for Fair customers given risks were underpriced DO NOT make the customers of insur. co.s who priced risk properly pay even more!