Opinion Insurers leaving Florida before Hurricane season - Wokeness

Voodoo_Child906

Voodoo_Child906

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"Farmers Insurance has decided to join more than a dozen other Florida insurance companies that have stopped writing home insurance policies in the state, over 100,000 homeowners are scrambling to find new coverage in a dwindling yet critical industry."

https://finance.yahoo.com/news/farmers-insurance-4th-major-insurer-200425920.html#:~:text=Farmers Insurance is the 4th,leave Florida, underlining insurance crisis

The insurance market has become so risky for companies in Florida and California following an increase in multibillion-dollar disasters, which lead to many insurers going insolvent or leaving the state.

The water temp reached 97 in Florida



Florida CFO:

“I sincerely believe that with today’s actions, Farmers Insurance is well on its way to becoming the Bud Light of insurance,” Patronis said

 
State sponsored home insurance sounds good. You pay into a company run by the state. However the way government runs things both at the state and federal level this would end up being a total shit show.

You will still be able to get insurance just the rates are going to get damn high. Which means mortgages are going to go up.
 
oldshadow said:
State sponsored home insurance sounds good. You pay into a company run by the state. However the way government runs things both at the state and federal level this would end up being a total shit show.

You will still be able to get insurance just the rates are going to get damn high. Which means mortgages are going to go up.
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It’s a tough situation. I feel like you can’t force companies to insure there.
 
Crawler89 said:
what the fuck is woke about this?
its capitalist greed.
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It's not greed. Several smaller insurers have gone out of business.

It's not feasible to insure property there because of the increasing number of weather-related disasters.
 
Could we wall off floriduh while we got the chance? They gonna be migrating out of their soon
 
oldshadow said:
State sponsored home insurance sounds good. You pay into a company run by the state. However the way government runs things both at the state and federal level this would end up being a total shit show.

You will still be able to get insurance just the rates are going to get damn high. Which means mortgages are going to go up.
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It is a thing, called citizens insurance. It basically is for people that insurance companies don't like.

I almost went to them last year. My roof hit 10 years old, and the insurance co.pany decided I should replace it. I got an inspection showing that it was fine, and they told me to fuck myself. Insurance was going from 200 bucks a month, to 800 a month. On a 1300 Sqft 90k home. I replaced the roof out of pocket, and found a new insurer. Spent all year making extra effort to get that mortgage payed off, burned all my savings on those 2 things so I'm not under the thumb of those pieces of shit.
 
We were in Hurricane Andrew in 1992. A lot of insurance companies declared bankruptcy and left as soon as it was time to pony up. My own family only got by because of FEMA money my Mother got.
 
Rob Battisti said:
The market is literally leaving town because it’s an untenable situation.
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Ok but what you’re suggesting is like the definition of socialism. Which is fine just don’t ever call anything “socialist” in a derogatory way. Actually maybe this is a good learning point for people who view that word as a boogeyman
 
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