Insurance rates have been on the rise across the country thanks to most prominently natural disasters, inflation and reckless drivers. Of course insurance companies don’t really want to cover anyone, especially anyone residing in the state of California, as Oakland’s Fox 2 reports. And it’s becoming a problem.
Industry experts say insurance companies are losing money on coverage. Not just some money, a lot. So, in order to try and control the hemorrhaging of funds (and unfortunately for consumers) companies are pulling back coverage or outright refusing to cover California residents, as one expert explained to Fox 2.
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