Florida in an Insurance Crisis

@whowasthatmaskedman nope you should not...😆

@samueltyler2 I agree. Florida is sort of the worst case scenario for rising seas and storms..😷

@whowasthatmaskedman we went Fr m a homeowner's policy of about $2k a year for our conf, to under $100 for our renters or insurance.

@graphitemostly illegals down here. i don't know how they are getting these fancy cars either

@akindheart I donated a car and nearly two years later, received a notice that it had been illegally parked somewhere. Apparently who had it never registered it so they sent the notice to the last legal owner. Makes me wonder who it was donated to.

@graphite they didn't want to pay for insurance or to register it i guess

@whowasthatmaskedman here is what the carriers do. they set up what are called PUP companies. so there is one for Florida. Florida shows a loss of course so they ask for rate increases. it is not always factored into the whole profit of the company. but when you have zero storms for a LONG Time, they are making big money. I am not with the state insurance and that is not good

@whowasthatmaskedman Insurance is like betting. The policy holder is betting it will be needed above deductables. The insurance company is betting on keeping the premium. The insurance companies have actuaries to do the math.

@akindheart Yes... Thats good old capitalism for you.....Sadly I dont have a solution.. I suppose the state could set up its owe not for profit insurance business to provide cover. But thats not exactly the American way..😷

@4meAndyou I bought flood insurance too. I have a jewelry floater too. With a condo, you don't own the outside of the condo. you own from the inside walls in. so what you are talking about is the insurance covering the structure. he needs an HO6 policy for his contents and the walls. I adjusted property for years.

when i first came to Florida, i paid 387 per year but i worked for an insurance company. After Andrew it went to 1100+ then up and up.

@Pretzel I am on the other side. The west coast has been hit many times. are you on the east or west coast?

@Slade you mean 20 Haitians who are raising chickens across the street..

@akindheart I am taking a brief retirement now since I know I'll have to work forever

@Slade oh no...i am hoping i get some CAT work later on.

@TryingtoLava It is the insurance companies. What happened is the risk is too great with all the hurricanes. the carriers want the car insurance but not the property. we had carriers pulling out like crazy

@Quimliqer yes. and wanted 40% up front. then charged me a fee every quarter to pay that way.