Insurance Companies Penalize You for Needing Insurance

More and more people either can’t afford, can’t qualify for, or get dropped from their homeowners and auto insurance plans and are forced to get state insurance plans. Today, Paul and Ira talk about why having a rental property that needs a new roof and being in an accident that wasn’t your fault can be enough to get you dropped by an insurance company. Paul thinks it’s important to be an educated consumer and talks about insurance in the United States right now. The unfortunate reality is that insurance companies usually penalize you for using your insurance and there are some steps you can take to mitigate risk. Later in the episode, Paul talks about State Farm dropping 72,000 homeowners insurance policies in California and how to search for unclaimed property that may belong to you. 

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