Lol what how can Insurance companies just kick out people who have been paying for years?
If an insurance company decides to insure a house, they should be on the hook for it for that until the home is sold again. No price changes, no dropping. If they really want out they can pay out the full value of the policy. They absolutely should not be able to just say “Nah we’re done now good luck.” When people make the decision to buy a house, they’re relying on that insurance staying as is.
Separately, it seems completely reasonable for insurance companies to say “we’re not making new policies in Florida.” Society does not owe you the right to live in a place so hostile we’re gonna have to keep rebuilding your house, and home insurance only works as a concept if you’re only having to fix a small portion of the houses you insure.
Most of Florida is no longer fit for human habitation, and that’s something we need to come to terms with. There should not be new home sales in most of Florida, there definitely shouldn’t be new construction. What’s needed is a slow, permanent evacuation.
I say all of this as a lifelong Floridian who moved out of the state literally 3 weeks ago. The last 2 summers were so much worse than anything I’d seen in my lifetime, and I’m terrified to see what this hurricane season is going to bring.
Happening in Houston already to a lesser extent. Options are limited, many companies aren't making new policies.
Well, Insurance companies understand the implications of global warming even if Floridians refuse to. They have no intention of being on the hook when Florida is finally submerged in petroleum infused bouillabaisse.
You're saying that the people who say the free market is always right... aren't even listening to the free market when it isn't what they want to hear? Truly shocking.
The "free market" means nothing when corporations can slurp up $$billions in publicly funded bail-outs and subsidies. The USA has capitalism for the poor and socialism for the rich.
"The practice of paying people after their homes are destroyed runs counter to our business strategy"
Ancaps explaining how the law forcing you to buy a monthly subscription to a useless insurance is totally different from taxation.
Probably means “first Florida, then America”
No click from me.
I found a YouTube link in your post. Here are links to the same video on alternative frontends that protect your privacy:
