So the state will probably have to step in even more to subsidize all types of insurance required for living here. Florida has a huge problem with all kinds of insurance fraud. Roofing scams are probably near the top.
Perhaps no market force has proved more influential — and more misguided — than the nation’s property-insurance system. From state to state, readily available and affordable policies have made it attractive to buy or replace homes even where they are at high risk of disasters, systematically obscuring the reality of the climate threat and fooling many Americans into thinking that their decisions are safer than they actually are. Part of the problem is that most policies look only 12 months into the future, ignoring long-term trends even as insurance availability influences development and drives people’s long-term decision-making.
To be clear there is a state run insurer that was created after Hurricane Andrew because insurers were exiting from losses. The situation is so much worse now.
LOL We already have it. It's called Citizen's. It's the state subsidized insurance we made from the last time we had this crisis. But they didn't want it to actually be competitive with the "free market" so they gave it all kinds of rules to hamper it, like you must carry flood insurance even if you aren't in a flood zone, which raises the premiums for all kinds of people who wouldn't otherwise be required to have it. They just reversed that requirement but it's too late. We are getting re-zoned across the state. In a few years EVERYONE will be a flood zone (because of course we are thanks to climate change) so all the homeowners here will need it anyways. I think right now we are at our last 2 insurers. If they pull out its only the government cheese for home insurance. It's just all kinds of mess and they don't want to change it because "muh free markit" so everyone is just angry about this. Gov Dickwad here wants to try and paint the insurers as the bad guys (and they are because insurers are bad guys by default) but even the most brainrotted conservative knows this issue is political and lies at the heart of his refusal to take action.
What I EXPECT to happen is they relax the rules for insurers on how they can provide flood and home insurance to people basically giving them policies they pay on that the insurers can find a million reasons to skimp on payouts. What will actually happen is they lower the standards for how an insurer can setup shop here in the state and we get a bunch of mom-and-pop insurers that seem like a great solution for a particular region like the Miami metro Dade area and they experience a catastrophic storm a year or two after a bunch of people get on it and just flop and everyone loses their homes because that is what this fucking clown-ass state deserves.
With insurance our housing market can pace with the rest of the nation. Without insurance we are one or two hurricane seasons away from the housing market here collapsing like an insert any element of our crumbling infrastructure here.
That’s what I was saying. I literally have citizens but I’m being “depopulated” and my policy is transferring to a new formed insurance company (loggerhead something) with $400+ annual increase. Everyone in Florida is fucked. But it’s also not just homeowners insurance its auto too. The big companies do both and almost all of them left.
LOL it's fucking wild, too. Anything to not let Citizen's become a proper state insurer. I hate it for you but also would be hilarious when that new company goes under after a bad hurricane and fucks everyone.
So the state will probably have to step in even more to subsidize all types of insurance required for living here. Florida has a huge problem with all kinds of insurance fraud. Roofing scams are probably near the top.
Situations like these always remind me of this
Genuinely that seems insane. Property insurance should be in like 10-20 year terms if not “until you don’t own it anymore”
but have you considered the freer the markets the freer the people?
To be clear there is a state run insurer that was created after Hurricane Andrew because insurers were exiting from losses. The situation is so much worse now.
That's gonna be hilarious when
has to pay more tax in Florida because it has to be subsidized for insurance companies to do business there.
LOL We already have it. It's called Citizen's. It's the state subsidized insurance we made from the last time we had this crisis. But they didn't want it to actually be competitive with the "free market" so they gave it all kinds of rules to hamper it, like you must carry flood insurance even if you aren't in a flood zone, which raises the premiums for all kinds of people who wouldn't otherwise be required to have it. They just reversed that requirement but it's too late. We are getting re-zoned across the state. In a few years EVERYONE will be a flood zone (because of course we are thanks to climate change) so all the homeowners here will need it anyways. I think right now we are at our last 2 insurers. If they pull out its only the government cheese for home insurance. It's just all kinds of mess and they don't want to change it because "muh free markit" so everyone is just angry about this. Gov Dickwad here wants to try and paint the insurers as the bad guys (and they are because insurers are bad guys by default) but even the most brainrotted conservative knows this issue is political and lies at the heart of his refusal to take action.
What I EXPECT to happen is they relax the rules for insurers on how they can provide flood and home insurance to people basically giving them policies they pay on that the insurers can find a million reasons to skimp on payouts. What will actually happen is they lower the standards for how an insurer can setup shop here in the state and we get a bunch of mom-and-pop insurers that seem like a great solution for a particular region like the Miami metro Dade area and they experience a catastrophic storm a year or two after a bunch of people get on it and just flop and everyone loses their homes because that is what this fucking clown-ass state deserves.
With insurance our housing market can pace with the rest of the nation. Without insurance we are one or two hurricane seasons away from the housing market here collapsing like an insert any element of our crumbling infrastructure here.
That’s what I was saying. I literally have citizens but I’m being “depopulated” and my policy is transferring to a new formed insurance company (loggerhead something) with $400+ annual increase. Everyone in Florida is fucked. But it’s also not just homeowners insurance its auto too. The big companies do both and almost all of them left.
LOL it's fucking wild, too. Anything to not let Citizen's become a proper state insurer. I hate it for you but also would be hilarious when that new company goes under after a bad hurricane and fucks everyone.
BACK TO CITIZENS!