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Hurricane vs wildfire insurance about to be nonexistent
Posted on 1/9/25 at 12:00 pm
Posted on 1/9/25 at 12:00 pm
News saying many people in CA got their policies cancelled earlier this year and just getting brutalized by this new insurance market. The gulf coast has been dealing with this for a while now, what do we do with insurance? Should they be a govt entity?
27
Posted on 1/9/25 at 12:01 pm to fareplay
I was just reading an article about how many people are uninsured for this in California. Going to be brutal.
Posted on 1/9/25 at 12:01 pm to fareplay
At what point is it still considered insurance when claims are expected every 5 years or so?
Posted on 1/9/25 at 12:03 pm to fareplay
quote:
Hurricane vs wildfire insurance
Posted on 1/9/25 at 12:03 pm to Jcorye1
That’s a good question, these occurrences aren’t rare nor are they really preventable without massive efforts
Posted on 1/9/25 at 12:04 pm to fareplay
quote:
Should they be a govt entity?
Keep as much of the gubmint out of it as possible.
Posted on 1/9/25 at 12:04 pm to fareplay
quote:
Should they be a govt entity?
Fuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu
................
ck no
Posted on 1/9/25 at 12:05 pm to fareplay
And, those with insurance are about to find out just how good they thought their insurance really is.
Posted on 1/9/25 at 12:06 pm to fareplay
quote:
Should they be a govt entity?
Has the Government ever taken over anything and it actually improved?
Posted on 1/9/25 at 12:09 pm to fareplay
quote:
News saying many people in CA got their policies cancelled earlier this year and just getting brutalized by this new insurance market.
The government is the reason for the current state of the market in CA
Posted on 1/9/25 at 12:10 pm to fareplay
Pretty soon the only places where you can actually buy homeowners coverage will be in the landlocked regions of flyover country.
Posted on 1/9/25 at 12:10 pm to fareplay
Here's a thought, stop funding the Biden's Ukraine war and use it for taxpayers
Posted on 1/9/25 at 12:10 pm to fareplay
How about stop building homes in areas that have regularly, for hundreds of thousands of years, endured wildfires as a natural eco-occurence as well as stop building homes on the beach and barrier islands subject to hurricanes?
Posted on 1/9/25 at 12:11 pm to BFIV
Where do you want them to go? Half of Houston most of Lower La, most of Florida big CA coast
Posted on 1/9/25 at 12:16 pm to fareplay
The Homeowners insurance situation in FL is in no way as dire as CA.
The reason? Political climate and government.
The reason? Political climate and government.
Posted on 1/9/25 at 12:20 pm to BFIV
quote:
How about stop building homes in areas that have regularly, for hundreds of thousands of years, endured wildfires as a natural eco-occurence as well as stop building homes on the beach and barrier islands subject to hurricanes?
And if you build in a desert, water is scarce.
Posted on 1/9/25 at 12:20 pm to DCtiger1
Our homeowner's premiums increased dramatically due to the claims in NC and East Tennessee hurricane damage. We all pay higher premiums due to these natural disasters, no matter where we live or where the disasters occur. Insurance companies are in the business to collect premium payments, not to pay out insurance claims.
Posted on 1/9/25 at 12:26 pm to Jcorye1
If I built a house astride the San Andreas fault, I would expect to lose it in an earthquake. And I would expect exorbitant earthquake insurance premiums, if I could even obtain earthquake insurance.
Posted on 1/9/25 at 12:28 pm to BFIV
quote:
Our homeowner's premiums increased dramatically due to the claims in NC and East Tennessee hurricane damage. We all pay higher premiums due to these natural disasters, no matter where we live or where the disasters occur. Insurance companies are in the business to collect premium payments, not to pay out insurance claims.
It’s simply not the case. Insurance companies have subsidiaries in states like CA and FL. Each state has its on regulation and rate is unique to that state and must be filed and approved in that state. Your premium is not impacted by CA unless you live in CA
Posted on 1/9/25 at 12:29 pm to fareplay
quote:
Should they be a govt entity?
frick no.
I'm sick of socializing other people's losses. People that can't get the required insurance still have options:
1. Live somewhere where there is insurance you want.
2. Don't mortgage your home.
3. Hurricane and/or fireproof your home.
4. Combo of the above.
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