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Los Angeles fire survivor is told State Farm’s $900K check on hold due to insufficient funds (calmatters.org)
submitted 3 weeks ago by zabadoh@ani.social to c/california@lemmy.world
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[-] homura1650@lemmy.world 4 points 3 weeks ago

The problem is not risk. It is cost. Climate change means that the cost maintaining human infrastructure where we built it has become higher than we want to pay. And regulators and politicians have prevented insurance companies to raise rates to match the increased cost.

Ultimately, there are 3 ways out of this:

  1. Move. Either have a government buy out program for at risk areas; or stop insuring new construction or substantial repairs. Your home was totalled by a hurricane for the second time this decade? Here's your insurance payout; but don't rebuild there because we will not insure you

  2. Build infrastructure to reduce costs. This could be more regionally appropriate building codes. Forest management. Waterworks. If we are willing to spend the resources, we have a surprising ability to bend local environments to our will

  3. Pay the increased cost.

this post was submitted on 10 Jul 2025
204 points (100.0% liked)

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