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Message
re: Insurance Rates...as a result of Harvey and Irma Discussion
Posted on 9/15/17 at 12:50 pm to NASA_ISS_Tiger
Posted on 9/15/17 at 12:50 pm to NASA_ISS_Tiger
property rates probably won't be hugely affected. It may help firm up what has become a very soft market. Flood is a whole other discussion. Not really a true insurance company/market.
2
Posted on 9/15/17 at 12:53 pm to Chad504boy
quote:
Flood is a whole other discussion. Not really a true insurance company/market.
As someone who has a mother in La who has flood insurance..that's a racket. Her flood insurance has skyrocketed in the last years. Like almost doubled since Rita (I don't have the exact numbers...but it's bad).
Posted on 9/15/17 at 1:41 pm to Chad504boy
quote:
property rates probably won't be hugely affected. It may help firm up what has become a very soft market. Flood is a whole other discussion. Not really a true insurance company/market.
This.
FEMA will enlarge the flood maps to include much more area plus they will increase rates. They have to enlarge it to include areas that have never flooded and will never flood or this thing won't work. Same for rate increases, they have to increase the rates. Sucks for anyone who gets caught in a flood map change that will never flood.
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