Insurance premium is getting out of control

[Steveinarizona]

Also, bear in mind that Pure is a reciprocal exchange company, which means that members agree to pool their risk. Given Pure's relatively high presence in SOCAL, I wonder how the recent fires are going to affect their shared risk adjustments. I imagine a relatively high percentage of EV coverage may have a similar effect.

I hadn't thought about that. Definitely food for thought. I suspect that all premiums will be going up in Socal but if Pure is heavily into Socal that could have a big impact.

 

[Cosmo Cruz]

Not out of control. The insurance industrial complex business is science-based. If consumers believe ICE cars and the infrastructure necessary to support them are economical... cheaper...
they don't really give a shit about consequences.

Get real. EVs are expensive .... or we can be the last generation of humans who had the moment to change.

Be the change you want to see in the world.

 

[Tim-in-CA]

I hadn't thought about that. Definitely food for thought. I suspect that all premiums will be going up in Socal but if Pure is heavily into Socal that could have a big impact.

The LA fires will cost insurance companies 100’s of billions. EVERYONE’S insurance will be going up unfortunately.