alt Hacker NewsAlas, not. Most policies in California have a 15% deductible. That’s 15% of the insured value of your home. So for nearly all houses, a $25K bill is not covered. California policies are and have always been to cover catastrophic damage.
Alas, not. Most policies in California have a 15% deductible. That’s 15% of the insured value of your home. So for nearly all houses, a $25K bill is not covered. California policies are and have always been to cover catastrophic damage.
Wait I'm sorry but if the policies are to cover catastrophic damage, but if catastrophe actually strikes and the insurance company becomes insolvent, What's the actual point or purpose of insurance then?