Excerpt from a news article this week… “A federal judge in California signaled on Wednesday that he will likely certify a class of approximately 200,000 homeowners in a lawsuit alleging that State Farm underpays property insurance claims by depreciating sales tax….”
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A lot of houses in California are well over $1,000,000 or more. At 7.25% sales tax or more the sales tax on total fire or total loss is $72,500+. Imagine if they depreciated that 50%! Easy way to save $30,000-$40,000 a claim! If you have thousands of claims, it results in millions and millions dollars saved! SF is shady! It treats it's employees like cr-p and policyholders just as bad if not worse! Stay away from State Farm at all cost!
That’s just really nitpicky stuff.
If there is one thing Commifornia will to tolerate is depreciating their sales tax. It's their money that you are simply holding on to for a short time before they take it from you.
@OP darn accountants getting caught in their games! Common sense is gone with these typres.
@OP YUP!