Hello Adolf,
Originally Posted by
Adolf_Twitler
Basically, I am just sounding off, and being sarcastic, and I'm sure I sound very self-centered about it, but damn, we just got hit by two historic record breaking Hurricanes in about a months time, and let's face it, the future looks like hurricanes are going to be more plentiful and ever-stronger every year moving forward.
You're ideas are good, but, perhaps, a simpler solution might just be to keep Insurance companies that deal in Hurricane damage, completely separate from the Insurance for everybody else. That when their premiums need to go up, for whatever reason, it doesn't require everyone's else to go up just to keep them in the black ink and profitable!
Perhaps if their insurance was higher to begin with, as it probably should be, they would reconsider living there in the first place. The only reason why their insurance is not higher already, is because everyone else insurance is higher than it should be just to average it all out for them to be able to afford theirs.
So, basically we are already baked into their cake- and they are the one's having the cake and eating it too!
Sorry, but I think we need a long-term plan here! Because it's only going to get worse!
I disagree. Who is to say which region is most vulnerable? Tornadoes, earthquakes, wildfires, floods, environmental disasters, etc. It's not like there is just one threat. Pooling insurance together is what makes it more affordable for everybody. Much Florida is insured by a non-profit socialist State-run insurance company called Citizen's Insurance. Republicans hate it and keep trying to kill it, but so many for-profit insurance companies pulled out of Florida it caused a huge problem which nearly shut down the real estate industry and threatened millions with foreclosure because they couldn't get insurance. And guess what? The rates with Citizens are far lower than for-profit rates. Even with all the hurricanes. Go figure. Remember, storm surge only accounts for a fraction of losses. Most losses are due to wind damage, and can extend hundreds of miles inland.
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