- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: 42,000 Louisiana homeowners dropped by insurance company Friday
Posted on 7/16/22 at 9:58 am to theronswanson
Posted on 7/16/22 at 9:58 am to theronswanson
quote:
I thought that greedy plaintiff lawyers were the problem. Surely it can’t be the poor, innocent, altruistic, mom and pop insurance companies. Why not give up a few more rights to entice these noble companies to return to Louisiana with lower premiums?
Yep... Those greedy insurance companies are leaving the state because they are killing it in La. What ever the people of Louisiana, politicians and plaintiff attorneys are doing, it's working! Cheers.
0
Posted on 7/16/22 at 9:58 am to Midget Death Squad
quote:
Wrong! You can not get a mortgage without purchasing home insurance. You can not maintain a mortgage without maintaining home insurance. The moment you are forced to purchase something is where capitalism ends.
What?
Lol
Posted on 7/16/22 at 9:59 am to Midget Death Squad
quote:
Wrong! You can not get a mortgage without purchasing home insurance. You can not maintain a mortgage without maintaining home insurance. The moment you are forced to purchase something is where capitalism ends
Sh#t is really to going to hit the fan in an month or two when the mortgage companies force place a wind policy and adjust the escrow payments on the mortgage. Payments will be become unaffordable overnight for many.
This post was edited on 7/16/22 at 10:11 am
Posted on 7/16/22 at 10:05 am to Midget Death Squad
quote:
You can not maintain a mortgage without maintaining home insurance. The moment you are forced to purchase something is where capitalism ends.
You may be the first person to argue that capitalism is in jeopardy because of the actions of bankers.
Posted on 7/16/22 at 10:14 am to JKLazurus
quote:
You may be the first person to argue that capitalism is in jeopardy because of the actions of bankers.
That statement was more geared towards the actions of law makers though, right? Maybe I'm just missing your interpretation.
Posted on 7/16/22 at 10:15 am to BowDownToLSU
For the record, them referring to the situation as a 60 day extension is going to confuse people because that’s all they will hear
The 60 days only refers to how long citizens and only citizens will be willing to take a lapsed policy and backdate it to the date the current coverage cancelled. It’s not giving them 60 days to “find” a new policy, it’s giving them 60 days to get a citizens policy if they want to have no lapse. Your options were pretty limited pre-cancellation, they are almost non-existent post-cancellation. So although you may technically have time to “find” another policy, I hope these people are expecting that policy to be citizens because that’s what it’s going to be
Additionally a lot of people are needing to get split citizens policies because citizens dwelling policies do not cover liability. Anyone in this situation will only have their citizens portion of the policy backdated and not the liability portion
The 60 days only refers to how long citizens and only citizens will be willing to take a lapsed policy and backdate it to the date the current coverage cancelled. It’s not giving them 60 days to “find” a new policy, it’s giving them 60 days to get a citizens policy if they want to have no lapse. Your options were pretty limited pre-cancellation, they are almost non-existent post-cancellation. So although you may technically have time to “find” another policy, I hope these people are expecting that policy to be citizens because that’s what it’s going to be
Additionally a lot of people are needing to get split citizens policies because citizens dwelling policies do not cover liability. Anyone in this situation will only have their citizens portion of the policy backdated and not the liability portion
This post was edited on 7/16/22 at 10:33 am
Posted on 7/16/22 at 10:19 am to sawtooth
Aren’t homeowners and flood seperate policies? I see some cross pollination in the arguments.
Posted on 7/16/22 at 10:25 am to TDsngumbo
State Farm’s rates are absurdly higher than pretty much any other quote I have gotten in this state whenever I shop.
Posted on 7/16/22 at 10:26 am to BowDownToLSU
quote:
"Our commissioner of Insurance negotiated an extension of the cancellation to mid-September, so again we've extended the coverage so you have more time to find a new policy," said Ron Camarota, an insurance expert. "If you can't find a new policy in that time, the policy can be rewritten with Citizens Insurance.
WDSU
Posted on 7/16/22 at 10:27 am to bbap
Same boat.
I love north of BR, didn’t flood in 2016 either, got dropped at my renewal around the start of the year because they were beginning a pullout from the state.
I love north of BR, didn’t flood in 2016 either, got dropped at my renewal around the start of the year because they were beginning a pullout from the state.
Posted on 7/16/22 at 10:27 am to GRTiger
quote:
That statement was more geared towards the actions of law makers though, right? Maybe I'm just missing your interpretation.
There are no laws mandating a mortgage. Almost 1/4 of home sales last year were cash.
Posted on 7/16/22 at 10:29 am to TDsngumbo
I would like to see empirical data that proves a “majority “ of claims not being paid. Either you are over exaggerating or don’t know the definition of majority.
Posted on 7/16/22 at 10:31 am to nated14
quote:
Aren’t homeowners and flood seperate policies?
They are both just as problematic for many. And both can be required by a mortgage provider.
Posted on 7/16/22 at 10:31 am to JKLazurus
That doesn't diminish the point even a little.
Is there a law mandating insurance? That's the target of the statement. If there is, then capitalism is not operating in its truest form. It's harder to refute that than you are letting on.
Is there a law mandating insurance? That's the target of the statement. If there is, then capitalism is not operating in its truest form. It's harder to refute that than you are letting on.
Posted on 7/16/22 at 10:38 am to Midget Death Squad
quote:
Wrong! You can not get a mortgage without purchasing home insurance. You can not maintain a mortgage without maintaining home insurance. The moment you are forced to purchase something is where capitalism ends.
Here is where you go off the rails. A mortgage is a choice and having insurance is part of it. That is not government forcing it like auto insurance. It is a requirement of the loan. You could possibly find such loans without insurance for rates in the double digits.
This post was edited on 7/16/22 at 10:46 am
Posted on 7/16/22 at 10:40 am to BowDownToLSU
I have Citizen's and they treated me right after Ida. I have no complaints.
Posted on 7/16/22 at 10:42 am to johnnydrama
quote:
I have Citizen's and they treated me right after Ida. I have no complaints.
The only issue is that, by law, they have to charge more than the policies of private insurers.
Posted on 7/16/22 at 11:14 am to Midget Death Squad
quote:
Wrong! You can not get a mortgage without purchasing home insurance. You can not maintain a mortgage without maintaining home insurance. The moment you are forced to purchase something is where capitalism ends.
Nobody is making you get a mortgage either dipshit. Pay for it in cash if you want. If you can’t then the bank makes you buy an insurance policy to cover their asset the lender against. In the end however nobody is making you buy insurance. If you can’t afford a house for cash then you take the terms associated with the loan which is insurance.
Louisiana people are some of the least IQ insurance people , or maybe just this board, there are. You’d think y’all would understand it as much as y’all use it
Posted on 7/16/22 at 11:19 am to BowDownToLSU
Is this only occurring in Louisiana? Why not in other states that get hit by hurricanes?
Posted on 7/16/22 at 11:20 am to MsState of mind
I live in North Louisiana and have rental property. Every policy I have is going up because of this shite. Look for rents to increase state wide because of this.
Page 3 of 5
Back to top
Follow TigerDroppings for LSU Football News