Florida in an Insurance Crisis

@Crazywaterspring That actually makes sense.. When you break it down, Insurance companies have a lot in common with bookies. They work the odds, add a margin for profit and calculate the premium so the house always wins. If their prices are higher than your calculated replacement cost, then you will win by banking the premuim.😷

@Crazywaterspring I own too but if it gets blown down, i need a place to go to ...i got the premium down a little but had to drop down the dwelling coverage. this is ridiculous.

@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..😷