Newsom's Insurance Crisis Hits California Homeowners With 29.1% Rate Hike

California's state-backed insurer of last resort just announced a 29.1% average rate hike hitting 675,000 homeowners this fall — with some facing increases as high as 50 to 60 percent. The California FAIR Plan, which exists because private carriers have fled the state's high-risk fire zones, now carries $768 billion in total exposure. That's not a safety net. That's a liability bomb waiting for the next major season.Gavin Newsom's insurance regulations have made the problem worse at every step. Restrictions that prevented private carriers from accurately pricing fire risk drove them out of the state entirely, tripling FAIR Plan enrollment. A Stanford study found premiums are up 84% statewide even as private coverage has become nearly impossible to obtain in high-risk areas. Now the "last resort" is the only resort — and it's raising rates on the people who have nowhere else to go.Sean breaks down the chain of policy failures behind the crisis, the Florida comparison the media won't make, what $768 billion in fire-zone exposure means if reinsurance dries up, and who ultimately foots the bill when inverse condemnation and subrogation disputes get left unresolved.Subscribe to @reasonablenews and hit the notification bell so you never miss an episode.#NFRP #California #GavinNewsomGO PREMIUM WITH REASONABLE+ FOR UNCENSORED ACCESS 🌟https://ReasonableTV.com/🛍️ MERCH - https://Store.ReasonableTV.com/💬 JOIN our FREE Discord Community! Share stories, chat with fellow enthusiasts, and stay in the loop: https://discord.com/invite/uJGWFpgDcY👍🏼 SMASH that LIKE button & SUBSCRIBE for daily videos that dive into the latest news! https://youtube.com/c/NewsForReasonablePeopleSTAY CONNECTED:🔗 Rumble - https://Rumble.com/c/NewsForReasonablePeople🔗 Facebook - https://www.Facebook.com/NewsForReasonablePeople🔗 iTunes - https://Apple.co/2MkFziJ🔗 Spotify - https://Spoti.fi/2Dh8EoL