Tyler Perry criticized the avarice of insurance companies on Instagram, specifically targeting their actions during the catastrophic L.A. fires. His comments followed a Los Angeles Times report revealing that firms such as State Farm General, California’s largest home insurance provider, refused to renew thousands of policies in fire-prone areas like Altadena and Pacific Palisades last year. This decision has left numerous affected residents without the financial resources to compensate for their fire damage losses.
Seeing a daughter desperately trying to safeguard her elderly parents’ home with a garden hose because their insurance coverage had been terminated was incredibly heartbreaking to me,” Perry expressed in his statement. “Doesn’t it seem unfair that insurance companies can amass billions of dollars from communities over the years, only to then have the ability to abruptly cancel policies for those very individuals they made their profits from?
Those who have consistently paid their premiums throughout their lives find themselves with nothing due to sheer selfishness,” he continued. “As I grapple with determining the best actions to take to assist as many people as possible, I am holding each one of them in my thoughts and prayers.
In contrast to certain insurance providers terminating policies, others significantly increased their rates, making it unaffordable for some Pacific Palisades residents to obtain coverage. For example, homeowner Francis Bischetti disclosed to The Times that Farmers Insurance raised his insurance premium from $4,500 to an exorbitant $18,000 last year. Regrettably, Bischetti was compelled to forgo the plan, rendering him uninsured at the time of his house’s destruction by the L.A. fires this month.
He described the situation as extraordinary, saying, ‘Even though I’ve spent and returned to this place over five decades of my life, I’ve never witnessed anything like this before.’
Based on a report by The Times, State Farm General declared last year that it wouldn’t be renewing approximately 30,000 homeowner and condominium insurance policies once they reached their expiration date. This includes 1,626 such policies in Pacific Palisades.
View this post on InstagramA post shared by Tyler Perry (@tylerperry)
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2025-01-13 17:46