Insurance companies save money by denying claims on a normal day. Paying to rebuild an entire state would jeopardize the big number going up and thus executive bonuses.
They won’t be paying claims. They’re not going to pay to rebuild a house that their models say will be knocked down again in 2-3 years by the next “storm of the century.” Insurance companies exist to extract wealth, not to help people. And they will always have more lawyers than you.
They also have all kinds of weasel options in their coverage. “Sorry, you were covered for wind, not flood” They’ll avoid paying any way they can.
I feel bad for the Tampa homeowner who discovered homes in their neighborhood used to be worth seven figures and are now worth low six figures.
I think we all predicted that kind of thing would happen somewhere someday, and Florida is one of those top places on the list, but even so, we should be sympathetic. You never really think this kind of thing is going to happen to you, after all. Best of luck to everyone whose homes were destroyed.
Florida needs to stop rebuilding in the barrier islands. It’s unfortunate for the people that live there, but this is going to keep happening over and over again.
Just plant mangroves and let them do their job of protecting the mainland.
Anyone that rebuilds in place after their whole house is destroyed is nuts… if you get insurance payout… this is your chance to move.
And we should demand that insurers stop paying for shit that we could predict. They should fill Florida with recyclable stuff as a big landfill and with rocks, then just drop a few invasive tree species, elephants, lions etc and put a big fence around the place. Then each year we would only need to rescue animals and not people. Rescuing animals is far more inconsequential. Nobody cares if the animals are homeless, but everyone hates homeless people.
Insurance exists to pay out. We don’t need to give them more reasons to deny people. Making laws to prevent rebuilding is the real answer.
Insurers have this in their pricing. Which is why you see some withdrawing completely, some offer stripped insurance that won’t cover this and the ones that will still offer hurricane coverage will do so at prices that will cover their exposure… and that will be prohibitively expensive for most.
Welcome to climate change. This is just the tip of the iceberg: things are just going to continue getting worse and worse each and every year.
there is absolutely nothing in florida that makes it worth living there
They do have a first-class spaceport… Watching a rocket takeoff from there would be the only reason I ever go to Florida.
i went to see a launch in early 00’s. it is interesting, maybe worth a trip, but not worth moving there
Florida is like an old used car: cheap upfront costs but expensive maintenance costs.
Florida is like an old used car: cheap up front costs for a dangerous vehicle that you know will eventually fall apart but you act surprised when you lose a ball joint in your front suspension on the highway while doing 120 kph because you ignored your mechanic for the fourth time this year. The look on your face as your car crosses the median and you’re about to impact a cement truck.
Alligators tell me otherwise. In fact, they tell me they look forward to having it back to themselves soon.
Disney world is pretty nice. Maybe we could move it out lol
Disney is the shittiest reason to come to FL.
Insurance companies in the US have become a Ponzai scam instead of a service.
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is that a meme or did you accidentally butcher the term “ponzi scheme” which is something entirely different? not saying insurances aren’t often a scam. just a different kind.
I modified it slightly to suit the situation.
Why do you not think a Ponzai scheme fits?
I don’t understand the pun you are going for here
Because a Ponzi scheme revolves around paying past people with fresh money without using it as promised at all.
Insurances (when fraudulent) collect money but don’t pay out anyone unless forced by lawsuits. Ponzi schemes are s vers specific financial tactic.
I guess I see enough parallels to call it “close enough”, but I guess that’s a matter of perspective.
meanwhile the people taking your money and giving you nothing in return are laughing at the fact that people are spending time debating “what kind of scam” it is
If your insurance only covers 50% of the property value it is essentially useless.
This is absolutely insane.
Wait until you hear about the deductible… where I am (not earthquake country by any means) the deductible was $80k. I sad pass on that.
I’m perfectly fine letting Florida handle Florida’s problems.
Yup. Let the states decide, then pay for it
Someone should point out to most of the right wingers that FEMA is socialism
Dont worry they voted unanimously to not expand fema right before both hurricanes.
It’s only socialism when the libs get it. Otherwise it’s their god given right.
Yeah, but then we get Desantis as president in 2032…
Not a chance.
Also, we will be lucky if there is even an election in 2032.
Not if he has no state left to represent.
State? by then it will be a country governed by a Christian monarchy
Naw people hate that turd. Only reason folks think that is because he says the same stupid shit as Trump. But Trump is one of a kind in the crazy camp, can’t reproduce.
You’re right. There is no one “better” than trump at… whatever it is he does.
I disagree. Cheato-Mussolini’s brand of fascism might be uniquely his own, but fascists are like cockroachs so there will always be another to replace Trump after he is gone.
Raging narcissism
Who could have seen this coming?
The insurance companies saw this coming. That’s why they have the clauses that exclude flood damage.
If only climate scientists had warned us 50 years ago we probably could have done something.
