from Hacker News

Allstate becomes next major insurer to halt new policy sales in California

by jbeard4 on 6/4/23, 7:26 PM with 6 comments

• by 14zadz on 6/4/23, 8:39 PM

  Too pricey due to natural disasters, pretty nuts. Sounds like premiums will creep up excessively if large companies aren’t biting interested in the market right now.

• by gymbeaux on 6/5/23, 11:22 AM

  Just to put this into perspective a little… due to hurricane risk, ALL the big boys (Allstate, State Farm, et. Al.) refuse to offer homeowners insurance in the entire state of Florida.

  The reason this is kind of bullshit is because there are parts of Florida- even on the coast- that get fewer direct strikes from hurricanes than parts of Texas, Louisiana, North Carolina, and even New Jersey[0]

  [0] https://www.nhc.noaa.gov/paststate.shtml

  There’s a better link but the website seems to be down. This link shows a map of direct strikes from hurricanes, split into smaller groups than “northeast”, “southeast”, et. Al. http://www.csc.noaa.gov/hurricanes

• by Calvin02 on 6/4/23, 9:43 PM

  I haven’t looked into this but why doesn’t pricing vary by region? I’d imagine that the denser areas aren’t at risk of fire as much as the outlying areas next to forests.