![]() ![]() “The crisis that the insurance companies have created by arbitrarily trying to raise their rates and pulling out of neighborhoods in California, refusing to sell insurance to people based on the alleged risk of a wildfire loss, the insurance companies taking advantage of one crisis by creating another crisis in the marketplace.” Rosenfield said there are two crises happening in California that are seeing a recent uptick in consumer watchdogs’ concerns – one is the weather (climate change and drought) and the other is fire insurance companies taking advantage of it. The state insurance commissioner’s office did not respond to a request for comment. “The voters were tired of being put through these crises created by the insurance companies and gave the commissioner the power to protect them against this kind of behavior, and the commissioner is not doing it,” said Rosenfield. Rosenfield is referencing the commissioner of the California Department of Insurance, Ricardo Lara, and contends Lara is not doing enough to ensure that consumers are protected against inflated premiums. The crisis, the appalling situation, is that the voters gave the commissioner the power to prevent this crisis, and he’s got to do it.” “Who can keep afford to keep the house when the bank when your mortgage says that you have to have insurance, but you can’t afford to buy it?” said Rosenfield. Rosenfield is concerned, like many homeowners, that this may cause a mini housing crisis if concentrated areas experience this type of insurance premium spike, as people will be unable to sell their homes. ![]() Harvey Rosenfield, consumer advocate and founder of Consumer Watchdog, said that insurance companies are taking advantage of a manufactured crisis to raise premiums, or not offer coverage at all. “Because they are one of the only ones that actually sent us a quote.” “We’re very limited as to who will even offer us coverage and which is why they can, I feel personally, quote the prices that they’re quoting,” said Carson. Zemp said he’s fortunate enough to be able to afford the rate hikes, but said he’s worried for his neighbors who might not be. Residents reported their monthly payments for this coverage, excluding their mortgage and their approximately $380 per month HOA fees, are around $700. “So people don’t want to come in because what’s the next going to be? Is the next one going to be even worse because the second one was bigger than the first one? So is the third one going to be even worse?… I mean they can charge whatever they want.” “I mean three months ago, they were selling for almost $500,000 and I saw one posted, I think it’s, and it’s still sitting,” said Zemp. Zemp said the situation has left many in the complex unable to sell their homes. SCV Signal News Podcast with Aron Benderĭevon Zemp, who’s lived in Cimmaron Oaks for five years, said the last round of insurance negotiations between the homeowners association and various insurance companies ended up with about 15 companies flat-out denying them coverage.A 2018 market assessment for the project showed Santa Clarita’s population growing by 30% by 2040, nearly twice the overall county rate of 16%. The eventual businesses and infrastructure will be of service to the 32,000 new housing units and other millions of square feet of commercial and retail space coming to the Santa Clarita Valley in the near future, Barger’s statement said. “Given that the Santa Clarita Valley is one of our county’s fastest-growing areas, we must commit to investing in economic and workforce development opportunities that will benefit families and community members in the region,” Barger added. “This property is one of the largest county-owned parcels of undeveloped land available today. “The Honor Ranch Development Project is a tremendous development opportunity in the Santa Clarita Valley,” Supervisor Kathryn Barger said via a statement sent to The Signal on Tuesday. The site lies between the I-5 Freeway and the Castaic Creek Wash. ![]() The proposed location for the Honor Ranch Development Project.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |