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Farmers Insurance is leaving Florida in latest blow to homeowners

People need affordable insurance because shit happens. We'll probably need to beef up the public sector to fill this gap, too, but that won't happen in the current political environment.
 
Yeah but FL is benefiting from the highest inflation rate in the country.
 
insurance is a for profit

where there isn't profit they're not going to be

if the San Andreas broke tomorrow with a 9.5 and leveled coastal California, it'd bankrupt every insurance company operating there .... one natural disaster away from economic collapser/ disaster
 
Wait, DeSantis is not the cause? I thought financial woes were the fault of the guy in charge. Well, at least that's how many people blame Biden after all.
 
Ishm said:
Never fear. RdS still has time to pass new driver licence rules to deal with those wokeys.
Click to expand...

His 'solution' to the insurance crisis was to make it harder for property owners to sue insurance companies when they got their claims rejected.

>How can I help you today?

>>Yeah, um, my house got destroyed. Need to get that insurance payout.

>Wait, you mean you actually think you're entitled to a payout just because you pay the most expensive premiums in the nation? Go away you communist mooch!

Little NapoleRon sided with big business to stiff Floridians and they stiffed the state anyway, lol.
 
Coastal living will only be affordable to the super wealthy who don't need insurance. The only place for normal folks to live will be inland. So it looks like DeSatan will be stuck with his crazy deep red enclave of The Villiages, and Orlando (although he's at war with Disney) so Yeah, retiring in Florida is looking less and less appealing every day. College students are leaving he state in droves, families are leaving in droves, going to end up being Ronnie and the alligators...
 
Helix said:
People need affordable insurance because shit happens. We'll probably need to beef up the public sector to fill this gap, too, but that won't happen in the current political environment.
Click to expand...
Some folks in Florida are paying $500 and $600 a month for insurance alone...sometimes more...and the property tax is a nightmare. They have a higher percentage in Florida than California...in Florida it is .97% and in California it is .74%

Property Tax Rates By State 2025 - Tax-Rates.org

www.tax-rates.org
 
I left South Florida in 2006. Hurricanes were at their peak. We had 2 major ones and just got fed up. I had State Farm because I had lived there since 1988, but when my parents moved there in 1996 they were unable to be insured by any major insurance company. There was a conglomerate of insurance companies that covered their home. And they lived 25 miles from the coast.

This has been happening for years, but as weather has gotten much more intense around the country I'm sure the major insurance companies know they are going to see major losses in the future. Flooding has gotten so bad in Miami that they are raising the roads in South Beach and more wealthy people are abandoning the coast to move inward to cities they never would have considered.

But when you look at the devastating floods in places like Vermont, which areas are the insurance companies going to insure? With Climate Change, it's a whole new ballgame.
 

Meh, something tells me that the obscenely wealthy will get insurance. Insurance companies want to do business; they just want to be picky about whom they do business with. The average retiree who moved to FL because he/she thought $1 million in the bank was enough is the one that's going to get a bucket of ice water dumped on them as they're sleeping on their pillow.
 

It's the reinsurance market. That's really what we need to be looking at, and for the first time I can remember, it's the reinsurance market that's starting to flinch. That is why all of these insurance companies are freaking out and deciding they are done with specific insurance packages in specific places.

It's not just home and commercial property either. The next big domino in the insurance market will be farming. And when you can't get insurance to insure farming, capitalism as we know it is dead. It'll be big government time. The only question is, what kind of government would exist then?
 

Its strength is also its weakness. Was true for Shakespearean characters, and it's true for Florida. I lived in the Sunshine State when it was sane. I liked that state. This one I don't recognize. Probably too many angry white Middle America ****ers moved in.
 
Florida is becoming more diverse, not less.
 
There is no “inland” in Florida. The highest elevation in the entire state is 345 feet above sea level.
 

It is one of the many things I love about California-once you have your home paid off, you do not have to worry about losing it due to the property taxes being to excessive on account of your home value skyrocketing.
 
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