Thing is, can one afford to move away?? I can't. I'm 50 miles inland and have been in this area since 63. My first home got flooded 3 times due mainly to poor drainage but the place I have now has never had any damage from any hurricane....and no flooding in the last 40 years. So why is my premium jumping like a Mexican jumping bean!?
Greed from the Insurance co.'s
anyone tell you different works for them & makes $$ off them too
legal extortion, plain & simple
as I feel for the people back east & in Florida
the insurance racket is out of hand today
I'm all for people/companies making a profit but at what cost ?
what levels is it too much ?
& to what extent to the economics, impact it causes ?
sometimes I'd bet worse than the storms
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like fire insurance here, not the whole home or the reg homeowners ins.,
& we haven't had a fire in my area for 75+ years, it was still 20 miles away
we are level 5 to be insured, that's insane, I'm 120' from a fire hydrant too
I'm less than 1/3rd of a mile from a Firehouse, at the end on my street
What was $1200 annually with no deductible,
all my stuff/cars-trucks house/s boat trailer/s etc. (vehicles not included in the #s)
is insured by the same co.
It is now $3200, with a $5k deductible annually,
I had them raise the deductible to $7500
now paying $1600, for 125% or replacement/building costs,
for the buildings alone
that doesn't cover the stuff inside,
but for how long ?
I own everything outright nothing is financed, I don't need the ins.,
more about what if's
thinking about self-insuring,
putting the same funds in an account & build some wealth
use it if I need to
if I had a problem, instead of making the
Ins. co.'s rich
I'm sick of the rip off, extortion costs, the past 5-8 or so years
risen especially in the past, 3 years & 10 months, it's doubled 100%+
(poor leadership, in Sacramento/DC too, I'm sure it's the same in other states too)
I pay as much a year for HO Ins. NOW, as I do in my property taxes now,
& I only pay 1% of the org. sales/purchased price, under prop 13, annually
I could do a lot of repairs, for the money I've spent on
HO insurance/s the past 47+ years...
Probably $150k+ house/s alone, not including my cars trucks boats bikes quads etc.
(
invested for me, properly, that'd be near a million today, easily)
& I never even had a claim,
ever against my homeowners Ins.