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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't have much empathy for people who don't insure even though they are high income. A high income person can afford the mortgage in Malibu AND the FAIR coverage, AND fill in what isn't covered with their savings and ongoing income. If they decided to risk it and not pay for coverage, they have to pay up when their bet doesn't pay off.

And I really don't feel bad for the grandfathered in grandparents either. They are holding on to VERY expensive properties and basically betting that they won't have a fire. They shouldn't enjoy both windfall profits from the past 30 years and not have to pay the price when things go wrong.

"PP here from the area. Yep, FAIR doesn't apply to most people even in Malibu since they still CAN get insurance, it's just really expensive and bad coverage (FAIR is expensive and bare bones too).

But yeah, the thing about the area is, it's very expensive and people are generally UMC but not necessarily risk-averse and not the sort of financial situation where the cost of fire + earthquake + flood or an umbrella policy would not be a SERIOUS expense they might not be able to afford comfortably without trimming elsewhere, unless they are grandfathered in (like my parents). Even for my parents, it is a significant cost and one they have to budget for carefully from retirement/pension." 
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Aren’t people in default of their mortgage if they don’t carry homeowners?[/quote]

These people don’t have mortgages. They are either people who paid off their (cheap at the time) homes long ago and now pay basically nothing in property taxes to support the community, or they are millionaires who own their multimillion dollar homes outright. That’s why a lot of us don’t have a ton of sympathy for the people in this area. The working class areas are a different matter.[/quote]

Oh my God you are so greedy and ignorant. [/quote]

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