40M plus Californians paid insurance for decades with few natural disasters. A couple bad fire years (for number of structures destroyed) and the insurance companies went bankrupt? Bullshit.
They want to collect billions in insurance premiums and pay nothing out...ever.
O already pay almost $2000 per year for the fair plan for about $180k in coverage. It's another $850 or so for regular homeowners insurance (difference in condition policy for wate damage, etc). I have my brush cleared. I've burned up most of the downed trees and branches on the property during modest rainstorms over the past few winters.
It is too expensive and there's no discounts for doing the right thing other than a massive checklist of items that are hard to achieve.
$3000 per year for insurance? With compounding from investing that money, I would have a good portion of the replacement cost within 10 years. I'm probably going to just pay off my house in a few years after even more improvements to reduce the risk and drop my insurance.