Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes)

Spam prevention
Rainmaker
906,105
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

It would not surprise me if CA & CO saw increased rates

Oct 22, 2020 10:00 AM
Rainmaker
483,112
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Absolutely!

Oct 22, 2020 09:53 AM
Rainmaker
2,916,881
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am betting that is an affirmative !!! 

Oct 22, 2020 02:57 PM
Rainmaker
5,048,082
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Will,

I think  that it will depend on the specifics rather than the general.  We are near water, so our rates have not risen for the year.  A

Oct 22, 2020 10:23 AM
Rainer
227,322
Don Baker
Lane Realty - Eatonton, GA

of course it will.  They will be paying Billions

Oct 22, 2020 05:48 PM
Ambassador
4,320,028
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

No doubt there will be changes, at least in certain areas. We've seen rates got up in the past where fires occurred, as well as difficulty getting insurance in some areas.

Oct 22, 2020 10:39 AM
Rainmaker
1,461,179
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Most likely Will Hamm 

Oct 22, 2020 04:24 PM
Ambassador
3,204,982
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Was there ever a time when your home owner's insurance rates didn't go up?

Oct 22, 2020 02:35 PM
Ambassador
4,889,688
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

More likely to go up than down, seems to be a rule for insurance and many other things.

Oct 22, 2020 12:26 PM
Rainmaker
2,574,880
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Well Will...if you and I ran an insurance company having to deal with fire-losses for these areas, we would be in a meeting right now to bring forth mandatory change (small print, price increases, limited coverages) or we go the way of the fires.....

Oct 22, 2020 12:07 PM
Rainmaker
602,861
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & OC Laguna Nigel

Not only will rates be going up but insurance companies will stop insuring so the government programs will need to fill the void.

Oct 22, 2020 11:03 AM
Rainmaker
1,637,960
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

You tell us Will ......

Oct 22, 2020 10:56 AM
Rainmaker
812,267
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

My brother-in-law works for an insurance broker in an area that has seem fires in the past. He has been telling me for at least the last couple of years that the insurance company will not write any new policies in certain areas and other companies have been canceling long-term clients due to fire risk.

Replacement insurance will come at a higher price, for sure.

Oct 24, 2020 07:59 AM
Rainmaker
836,605
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

That is called the Sierra Club pre-esisting condition, a self-induced disease rampant in the USA.

I do hope insuance companies are able to apply a 'Sierra Club' surcharge to policy rates. Very much like the flood insurance requied by coastal dwellers who live within reach of the storm surge.
What will happen is ALL citizens will pay a higher rate, not just those who choose to live in their tree canopied hide-aways. 
The Sierra Club surcharge....that should work.

Oct 23, 2020 05:49 AM
Rainer
284,354
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Yes. There also will be areas where you can only get California Fair Plan or same in Colorado which is expensive limited coverage. When rebuilding people should not use wood siding, wood roofs, (Class A roof)  plant anything near the structure, encapsulate the eaves under the overhang with material that is not flammable, forget flammable curtains, install dual glazed windows that are fire rated, cover every entry like the vents for the dryer with 1/8- 1/16 inch iron mesh not vinyl screen, decks should be concrete/metal/not flammable...   I would love to talk to planning desks about permits. When the city of Paradise started rebuilding after the Camp Fire many homes now look identical and don't have a view to the new normal, sadly the city lost not just lives but the special gorgeous community.  Sorry I went long winded on you... so much love and emotions

 

Oct 22, 2020 03:13 PM
Ambassador
2,979,390
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

probably, hurricanes do it at the coast and throughout coastal states.  We (Georgia) got hit by hikes when thousands of homes got new roofs after wide spead hail storms one summer.

Oct 22, 2020 03:11 PM
Rainmaker
6,027,628
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Definitely.

Oct 23, 2020 08:46 AM
Rainmaker
4,475,373
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Just like hail, I assume so! 

Oct 23, 2020 06:53 AM
Rainmaker
3,224,493
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Hoping it goes up in those high risk areas and not in our low risk areas

Oct 23, 2020 05:19 AM
Rainmaker
3,745,908
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Since insurance companies operate for a profit, you can assume yes. The bigger the risk, the bigger premium to insure it.

Oct 23, 2020 04:33 AM
Ambassador
3,810,414
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

No doubt, Will!

Oct 22, 2020 10:03 PM