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Started By
Message
re: Homeowner’s Insurance is collapsing in LA - UPC gone, Cajun now gone - rates up 40%
Posted on 3/22/23 at 10:44 am to LoneStar23
Posted on 3/22/23 at 10:44 am to LoneStar23
Shut the frick up. This is an issue in Florida right now too and will be in Texas the next time a storm comes.
ETA: I believe the incentives for insurance companies to come here are supposed to roll out shortly.
ETA: I believe the incentives for insurance companies to come here are supposed to roll out shortly.
This post was edited on 3/22/23 at 10:45 am
4
Posted on 3/22/23 at 4:20 pm to Swagga
quote:
Shut the frick up….. I believe the incentives for insurance companies to come here are supposed to roll out shortly.
Posted on 3/22/23 at 5:25 pm to Swagga
quote:
Texas the next time a storm comes
LOL, we got 60" of rainfall in most parts of Katy over a week ETA: during Harvey. Beltway 8 at I-10 had close to 15-20 feet of water in it. But you keep apologizing for your legal system and your insurance commissioners, because the explosion in rates didn't happen here.
This post was edited on 3/22/23 at 5:43 pm
Posted on 3/23/23 at 12:19 am to Swagga
quote:
This is an issue in Florida right now too and will be in Texas the next time a storm comes.
I don't understand why people say this and also say "if LA can just go 3 years without a storm then rates will go down".
Insurance companies are aware where storms are likely to hit and what the cost might be. Getting a storm or not getting a storm in a given year(s) shouldn't make much difference in assessing risk of an area. They are very aware that a major storm could very well hit TX the next year and have calculated that into their rates. I imagine the risk teams at major insurance co's are some of the sharpest people in the room. And right now they think the risk is so great in LA and FL that they don't even want to collect premiums from homeowners.
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