Allstate: no new homeowners policies in Cali

http://news.yahoo.com/s/ap/20070511/ap_on_bi_ge/allstate_california_2;_ylt=AhdG6mZrVosANRvj0N3f2WUE1vAI

Allstate is setting a very interesting precedent. How long before other insurance companies follow suit? How long before they bail out of Florida, east Texas and the entire East Coast due to the hurricane threats? How long before they bail out of Tornado alley?

 

Let us not forget another once in a lifetime midwest flood....
fuckabunchaallstate/statefarm....
When this policy is up, I'm taking my homeowners to AAA

 

Ah yes...how could I forget the flood.

And if they aren't insuring new Cali homes due to the earthquake threat, will they pull out of every state that has a major fault line?

That's a lot of states...including mine.

 

You can only hope that people tell these asshat megamoneymakers to fuck off regarding other policies.

If I get cancelled, my car insurance will go somewhere else.

 

Point of order: It's not "cancelled". It's "non-renewed." You know, FWIW

 

Some insurers in Texas, especially along the Gulf Coast, stopped issuing new policies because of mold issues. California is just the latest victim in this mentality.

 

After a bunch of people sued them to get their insurance money, State Farm stopped selling new homeowner policies in Mississippi. They still honor the old ones -- at least until the next hurricane -- and sell car insurance, though.

 

Designated For Assignment

 

This isn't new. Car insurance companies have only recently returned to NJ.

 

Not surprising, coming from the same group of ethical cyphers who are still dragging their feet on paying claims on the '94 Northridge earthquake.

I said it on an earlier thread ripping Allstate. Tony Montana and Pablo Escobar were more ethical businessmen than the suits at Allstate.

 

IIRC, no new policies are being issued in Mississippi, as a result of the Katrina shit.

 

It's a business. If AllState believes it will lose money doing business in a particular region, it would be irresponsible to continue writing policies there.
Now, when one of these companies pretends that a policy that has been in force is a "new policy" -- which happened in the Gulf not long ago -- those people should go to jail.