Hurricane Milton Flood Insurance UNAVAILABLE For Many Floridians As Companies FLEE State
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- Опубликовано: 12 окт 2024
- Robby Soave, Amber Duke and Niall Stanage discuss how flood insurance is becoming more expensive and leaving certain states altogether. #floodinsurance #hurricanemilton
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A lot of these people had flood insurance when they bought the home but then the insurer decides to no longer provide that insurance. If we are legally required to have insurance under the law then insurers should be obligated to provide that insurance
AMEN!!!
I'm not sure about Florida, but you are able to get insurance through the state in California. The only problem is that it is incredibly unaffordable to many.
I'd counter posit that the law should have either not been imposed or designed to account for these unfortunates without imposing a burden on a third party. Too often though the National Flood Insurance Program seems to be yet another welfare program for the wealthy (I include the insurance companies in this). 80% of the homes covered by it are in the wealthiest 20% of counties and NFIP homes are also on average worth more than twice the value of non NFIP homes. NFIP insurance costs homeowners about 1/2 the market value of the insurance. The NFIP was $20B in debt before these 2 most recent disasters.
@@vicnighthorseif there is money for Israel and Palestine and Ukraine .. there is money for Americans period … there is no other nerd arguement
No one should be required to subsidize your choices. I might see a case for decreasing it year by year on a schedule until no longer insured as opposed to dropping it all at once.
If your premiums have already been paid, how is it legal for insurers to just cancel you whenever they feel like it??? This "loop hole, " must be filled. PERMANENTLY!
AMEN!!!
Capitalism
@@JordanConley808 CHRONY CAPITALISM is as bad a COMMUNISM. I support a fairly regulated CAPITALIST SYSTEM which the consumer does not get ripped off!
There’s a term to the insurance, you could try to extend the term.
It already is. God sake. Can you breathe through your nose?
This is what billionaires want. You will own nothing and be happy.
Private insurance companies; whether property, health, or life operate like the mafia; they're essentially legalized extortion.
An insurance company needs billions sitting in the bank to cover disaster expenses. It’s not like anyone can just start an insurance company. There are non-profit, mutual, and co-op insurers. If for profit companies were not providing better service at a lower price, they would go bankrupt to other forms of insurance.
Such a simpleton take. You think banks would lend you money on a house with protecting their money
yeah. we have to beg them for the money that we paid them to fix the flood home. felt desperately in florida. i will out of here when i finish selling my damage property.
@@Risejugger that's what insurance companies do they look for any reason to not pay. When sandy hit my buddy had a split level home on his deed or property appraisal there's nothing that says he has a basement. The insurance said to him because the left side of your house is one once below the concrete which it wasn't that it's considered a basement the denied the claim. He had to hire a lawyer who took 30% and couldn't repair his house for over 3 years until it was settled
@@Risejugger insurance companies are not your friend
Everyone SANE, knows DeSantis works for the Insurance Industry. He lets It write the Policy in exchange for Large "Campaign Donations". They most recently wrote a Policy, that Private Individuals CANNOT Sue the Insurance Companies. DeSantis signed it.
link?
@@jodyyoung2726 The bill is HB 837 and was campaigned as a way to "stop bad faith insurance lawsuits.". It actually strips away rights for people. And while there are bad faith actors out there, this will disproportionately effect normal citizens with limitation against citizens for suing insurers who do not provide adequate services. For example, if your roof gets destroyed and the insurer only hands you $20K to fix it, but the market rate is $50K, you could sue before. Now you can't and you're out $30K despite paying some of the highest rates in the country. Virtually everyone who voted in favor to it has ties to the insurance industry.
I remember that. He called it insurance reform, but it was also reported that he got huge campaign donations from the industry about then for his presidential run.
Insurance is a huge scam. These companies care more about dividends than their customers. That being said, let's not forget that a huge number of these homes are second homes for snow birds and vacation homes. Government should never be subsidizing insurance for homes that are not full time residences.
If the residents can't move, shouldn't the government be helping them relocate rather than underwriting insurance to help them rebuild again and again.
☝️
Not really. No one forced them to buy property there in the first place. How long should the government have to pay for people's bad decisions.
@@77jaycube69 wasn't really that BAD of a decision for decades... till the recent 10-15 years when things have gotten truly worse.... sure, it was a place where hurricanes hit... but not as often as it does now...
In the KY flood in the thirties, there was an isolated incident. The problem now is that everything is getting worse at once. Fires along the majority of the West Coast, record high temps every year… I mean the gulf was over 90 degrees in July. They warned at the time that it greatly increased the likelihood of hurricanes. Several weather related emergencies are happening annually now.
That's exactly why I would never buy a home in Florida. I only rent.
true. salt water damaged the property crazily.
That was my decision. If I decide I want a FL vacation I’d pay thousands to rent for a month rather than pay same amount for insurance. Same with cars. I drive an older model car with $600 year liability insurance and rent a car for long trips. At the end of the day it saves a lot of money and hassles.
You say like you have a choice with these prices lol
sure, but SOMEONE HAS TO OWN THAT house....
Yep, the smartest way.
this is one of the few times i will ever think that regulation is the answer. we need to create significantly more flood and hurricane resistant homes. standards must increase
No, people need to stop trying to live in these high risk areas.
@@PTANV-x2g ok... or build things to withstand the storm. lol why not just adapt rather than just giving Florida back top the wild
@brasshouse-og So, when absolutely nobody does this, at some point you have to ask yourself why not. Do you really want to pay $6.7 million for your reinforced fortress of a house when the equivalently sized but traditionally built house next door costs $1.2 million. You bumped your head if you think some thick windows and more roof tiles is all you need to survive a major hurricane. The cost to build such a house would be several times the cost to build a traditional house. Are you willing and able to pay that much more? Or would you take your multi-million dollar investment elsewhere?
The fact is that nobody is willing to pay the price to buy/build mega reinforced houses. They will spend the same money elsewhere and get a lot more house for their money, with less risk.
You didn’t think the money to build these reinforced structures would just fall from the sky, did you?
@@brasshouse-og you cant on the beach or within a few miles of water. If you want to live there your going to pay insane premiums or go uninsured. They should be on their own type of insurnace. Why should the people in land who arent rich or at much risk subsidize the rich
@@PTANV-x2g and when they are mega structures water still gets in and all the drywall/wiring/everything needs pulled out and redone.
I have had car, home, medical, life, insurance my entire life. I have never had a claim other than medical. I cant even fathom the total money I have paid with no claim at all...
I especially love the letters they send me telling me I’m a “double platinum super special member” yet no cash reward or rate decrease for los and zero claims
I’ll also mention that it’s illegal to charge women more for medical insurance, but completely legal to charge men more for auto insurance.
there are many anti male laws. We see the same with fem only space vs male only spaces
Why mention that? Is that at all relevant to companies ducking their commitments to residents who have no control over the weather?
@@MM-kq5eybecause he wants to.
he's a bot trying to change the topic, probably a consulting company hired by these insurers
@@danielan962 a bot? It’s an interesting tag along with their other segment on Kamala assertion there are no laws that only affect men.
There's one very simple answer to all this: Don't build on or near the coast or in a flood plain. I could've bought a house in an A or B zone in Florida 15 years ago, but I decided not to because even though houses near the beach there were cheap then. I thought there was too much risk of wind and flood damage from any hurricane that came through. I talked to many people who lived near the beach in Florida, and they all said there was very little chance they'd ever have any damage from a hurricane. I didn't buy that, so I didn't buy a house there. Those people who didn't worry about hurricanes most likely had their houses damaged or destroyed by Debby, Helene, and Milton. I'm no genius, so if I could see that there was too much risk buying a house near the beach there, why couldn't they? It's because too many people don't understand risk. They'll ignore it if it's convenient until it's no longer convenient to ignore it. Insurance companies understand risk. That's their business.
Wrong answer, the video just said that the govt didn't update the flood plain map in 20 years
So people have paid into the insurance for years, and when they go to to collect its no longer there? Isnt that a bait and switch?. Its like paying over $1000 a month for health insurance for 10 years ($120k paid into it), Never using it and when you finally do use it for something less than $5,000-$10,000 the money and coverage are gone.
Sounds like the insurance companies who are doing this need to be sued and forced to pay back every person who paid into it.
I’ll explain. Home insurance is not flood insurance. They are two different types of insurance. The most common misconception with home insurance is that people think hurricane protects them from storm surge. Hurricane only protects you from wind. It states it in the checklist of coverages that you are not covered for flood or storm surge. To buy flood you must contact an agency to buy flood coverage which usually runs you around 500-10k depending on your risk location and how much coverage you are seeking.
Soo...are they suggesting no one should live in florida because of the risk?
*house gets obliterated by hurricane....rebuild...gets obliterated again...rebuilds again...gets obliterated again...rebuilds again*...you think people would learn, maybe florida isnt a good place to live.
In the high risk areas along the coast, YES, OF COURSE. You have to be insane to want to live there.
@Aeternum_Gaming This!! Like people living in tornado alley, talking on the news about how resilient they are and how they will rebuild. What utter fools! It’s not IF, it’s WHEN.
I believe they are saying people need to be able to self insure if they want to live on the coast.
Or rebuild better, rebuild hurricane and flood proof. More stable houses would help against the wind, building on artificial dwelling hills (known as Terp or Warft) would help against floods reaching the houses.
Imagine a goverment that could actually back its own people vs spending billions on affairs that have zero to do with us.
Ya unfortunately Republicans legalized bribery and Dems didn't do anything to stop them. Now 99% of them are owned by corporations. There are a select few that aren't and most of them are progressive
@@Jerry-rg8mx that's what they do.
What does that have to do with a contract between a private citizen and a private company. Are you suggesting the government should get directly involved with contracts between companies and consumers.
@@77jaycube69Yes, we are suggesting they get directly involved because companies can't duck out of their commitments to customers that couldn't have possibly predicted this. "Private" companies, need to be held accountable.
If this cost and risk were nationalized instead of being for profit... it might be expensive but bearable. Probably in the long run houses would be built to resist local conditions more. OR to be mass produced and kind of disposable. I'm thinking of dear old Buckminster Fuller and his factory produced building ("Dymaxion House") that came in a big crate and was assembled on site. But there are literally hundreds of possible solutions, whole books on the topic. So if a neighborhood is destroyed by some "hundred-year" disaster, the housing industry could just deliver new dwellings more or less from stock. Also, we could slowly move in the direction of not building in places that had a history OF disasters! Again, this would probably require some nationalization, and some serious restriction of the real estate industry as a whole. So I guess we can forget about that! And just all slowly become impoverished. Whee! Maybe after WWIII we can discuss it again.
And the impact on the housing market with all these people needing to find new homes?
Same predicament will happen in Calif. Allstate and State Farm have not renewed policies and a few smaller Ins Co's have either left or are not renewing. Calif has problems with fires that are followed by flooding because the ground cover has burned away and then there are always the threat of Earthquakes
I dont think it is complicated. The government should subsidize the relocation of those people, not helping them build their houses just to be destroyed again a few years later.
So we leave the coast. Now our prices skyrocket because no one is there to work the ports or support those that do.
Most of the east coast does not have the hurricane risk of southwest Florida. Having ports in high-risk hurricane areas is unbelievably foolish.
The people who cannot get insurance are typically the wealthy with beachfront homes.
Yup. That’s the conundrum
@@PTANV-x2g🧂
They would rent instead of own
The problem also is they are allowing builders to build on flood planes still, and then more homes flood that never flooded for years
If a bank will give a mortgage, then they should back it. If not, unfortunately, your land has gone bad.
The most common misconception with home insurance is that people think they are covered for flood because they see water or hurricane. This is because people don’t read their checklist of coverages. A good agent would tell you that you don’t have flood coverage and Atleast offer you a flood quote. Other than that it’s on the policy holder to read their exclusion, It’s not hard to read. You are adults read your insurance declaration pages. Flood carriers and home carriers are two separate companies under two separate regulations.
These insurance companies make so much money from other states they can do at least a 75 or 50 split but greed pushes them away pure evil
The flood maps have been updated in Houston Texas area after Harvey. The storms are getting more extreme. And much more development.
Let’s face it, there will be no answer to this one. We will keep paying for insurance and they will keep ripping us off. There will be disasters everywhere.
You can check whether your house is at risk of being in a flood zone before you buy it. If you are building a new home, build it for the area you are planning to live in. Flood zone? Raise it off the ground and no basement. Hurricane zone reinforced construction with the roof fastened down. Older homes were often built for the weather expected. In Michigan, the oldest homes were postcand beam construction with a 12/12 pitch. In So Carolina, they were raised 4 ft off the ground. The information has been out there for years. The worst hurricanes in recorded were in the 40s.
Flood insurance is going bankrupt? Or will they simply increase rates and be obligatory?
housing and flood insurance companies should all be charged with FRAUD and ordered to PAY!
Bankrupt is based on current ability to pay, whereas rate increases determine future ability to pay. There is no dichotomy.
Private market is not required to stay in Florida and can pull out. Had a flood company pull out when they had a 28 million dollar loss from hurricane Ian. They stated that they could have stayed in Florida, but the rate would be so laughably high that it would probably not attract any business. To be Frank the flood insurance companies have been grossly charging little premium for flood and Ian was the wake up call for them and FEMA. $100 full flood coverage will never happen again. At best you will find flood for like $450 and that the least risk in the entire state for only $250k coverage.
@@ormondbeachr1 that's BULL!!! SUE EM!!! FOR every penny they're worth!
@@PUFFYADDERSONSFakeNewsAN-qv4ku that actually did happen. It didn’t go as plan since the rates increased as a response.
The companies aren't necessarily being greedy, you see they have to pay out yearly on whatever storm comes through. What's the matter of being profitable. Do you need to wake up and realize that Florida is a place for people with more money than sense. If you can't afford a hurricane proof house, Play money to pay out of pocket to fix everything yearly or every other year. YOU SHOULDN'T BE IN FLORIDA! 😮😮😢
It's not greed. It's simple economics. It does nothing but waste resources to continually insure properties that remain in an area with continual flooding. Why should a company waste scarce resources on properties whose owners are being irresponsible by continually building in areas prone to disasters?
2:02 You take the responsibility of owning a property in a disaster prone area. You don't demand someone else be responsible for it.
3:03 Robby, people with mortgages have to have mortgage insurance. The government is mandating that the citizens must use their resources on insurance that, for most people, is too costly.
Edit: Added comment
WELL I most certainly wouldn't risk getting A HOME in TAMPA....
@@PUFFYADDERSONSFakeNewsAN-qv4ku Then you could never live near any coastal city. Not one. So, move to Nebraska and then you can shut your mouth. Also, have a great time!
If Property Insurers were so concerned about huge payouts after Hurricanes ? Why do they insure Homes or any other construction on barrier islands to begin with ? Or within feet of the ocean as thousands of homes currently are ?
I think I missed something here, are they saying the insurance companies aren't covering these areas already. Or are the saying these place are covered but the insurance companies are filing bankrupcy now to avoid paying out (like what happened after Katrina hit NO). Feel like I missed the point of this debate..
I think they're confused as well. This issue mostly affects new construction especially those who recently moved to FL. Many of the insurance companies are declining to offer flood insurance for those new homes.
@@dmitriyk4322 companies are also leaving the state as a whole as they do not want to cover the costs of the required insurance in the state. They are updating their policies to not cover those incidents in ways that aren't apparent, it's a whole mess of a lot of different things resulting in the same outcome, people can't get the proper insurance for what will happen to their home.
And it is true that several companies failed to pay out for hurricane damage a few years ago and some eventually declared bankruptcy while still giving the CEO enormous bonuses.
Anyone with a mortgage has to have insurance to cover the loan, but if i was an insurance company i would not go anywhere near Florida or make the premiums unacceptable.
Crazy idea: Tax the billionaires and the companies a flat rate, non-negotiable (say 15%). NO loopholes, no caps. Guess how many TRILLIONS the gov't would have in 10 years.
15% is about what billionaires pay today after loopholes.
In the 60s and 70s the upper limit on income tax rates on super high earners were in the 80 and even 90 percent range.
Robby is 100% right. You have to be a total FOOL to live in places like this. To own a home and put your life at risk living in places like this is NUTS.
But people will persist and they want safety and security. So they will demand insurance and concessions that will drive the cost of everything for everybody through the roof.
Oh and I once lived in Tampa. 😂
Robbie: ‘They should move to the interior of the country’…oh, so like…western NC??
RAPID climate change - natural AND man-made (unintentional AND intentional) - is now causing RADICAL & UNPREDICTABLE weather patterns, so buckle up, naive/arrogant buttercup.
If I was an insurance company I would not insure any of those people for flood insurance what would you ensure someone knowing that you are going to be paying out within a very short time because of the location that is common sense
AFTER THIS DISASTER IT SHOULD BE MANDATORY FLORIDA LAW FOR EVERYONE TO HAVE FLOOD AND HOMEOWNERS/RENTERS INSURANCE EVERYONE
I don't really understand why they say insurance is impossible to get in Florida. I understand the risk of natural disaster is so high as to be a near certainty, but generally high risk insurance groups just get very expensive. Such as car insurance for teenagers. Is their some sort of price cap on property insurance that is preventing insurance companies from simply increasing the rates to cover the liability?
Yes, entitled coastal elites want their cake and want to eat it as well. They want to live on the coast but don’t want to pay the high price that comes with it.
The insurance rate needed to make a profit is greater than the rate homeowners are willing to pay. This is a little different from CA, where the rate needed to make a profit is greater than the insurance price gauging regulations will allow.
@@theBear89451 If something is more expensive than people are willing to pay, then it is not unavailable, it is just expensive. I would love to have a Lamborghini, but I am not willing to pay $300K for one. That doesn't mean Lamborghinis are unavailable.
Florida companies have tried to jack annual rates to as much as 10k or 12k in areas of the state far from the ocean. People literally cannot afford that there, Florida has always been a low wage state.
@@aliannarodriguez1581 If they are going out of business because their liability is so high, then its not jacking up the rates, its just covering your liability. As Robby said, if you cannot afford to insure the house, then you probably shouldn't choose to live there. You don't have a god given right to a house with cheap insurance anywhere you like.
It's simple, if you can't afford to maintain an exotic car.......then you can't afford to buy it. If the insurance cost is too high,. You can't afford to live there. My neighbors laughed at me when I bought a 219mph steel arch building to live in and instead of plastic sheds, I bought 40ft shipping containers. This is Florida, the entire state is in a danger zone every single year. I don't pay insurance at all. I also don't live near a water source and am at 135ft elevation.
Lol FEMA FLOOD MAPS HAVE NOT BEEN UPDATED IN OVER 10 YEARS. THAT MAKES NO SENSE
FEMA flood maps were just officially updated. The updates have been known for 3 to 4 years
Flood maps need to be updated, especially in areas being urbanized. More concrete means more storm run off, means more flooding. Wetlands filled in for housing, means less water storage during storms, means more flooding. Plus I've seen flood maps legally 'fought' and won. I suspect 'who you are' can nudge those lines some. And finally as data is collected, the maps get better & ag areas are not mapped to the same detail as urban areas.
@@bobbob-gx1iqYeah that statement surprised me too. I expected better of The Hill, they are supposed to be knowledgeable about public policy.
The home flippers overplayed their hand. Some were paying for others,by discrimination of billing. Basically,price fixing. Ethics violations.
So, it sounds like... in the future... we'll just be "free range" citizens more and more... and if you want to have a home you'll have to pay cash, and regard the property as disposable. So if there's a general disaster you'll just buy again. Might work, if wages were much higher and housing prices much lower! It's not physically impossible, maybe politically impossible.
Kind of sounds like Japan’s model? I read that their houses are not intended to last long and they depreciate like cars do here.
Any property damaged in hurricane affected areas by a hurricane should be required to be rebuilt to a minimum standard of hurricane resistance and also be raised to accomodate future flooding risks. Just like the buildings on most barrier islands on the east coast already do. They should have reinforced concrete pilings and elevated structures. Buried utilities and such. Otherwise, it is insanity to rebuild something there to the same substandard building practice in a low-lying coastal area and not expect to do it over and over again in the future. This is not cost efficient.
The government of the state of Florida gave insurance companies carte blanc several years ago and Desantis opened a state insurance fund company who also has dropped thousands this year and is currently doesn't have the funds to payout if there was a major storm. The loop hole was done by Florida State house of representatives.
What about the oil companies that eliminated cheap and safe energy in the names of profit which has caused this issue.
No idea what this discussion is about, as even the headline makes no sense. There is a Federal flood insurance program, and everyone in a flood zone is REQUIRED to have flood insurance. So, where are these people where flood insurance is "leaving states" altogether....? Most flood insurance is covered by the Federal Government. Only windstorm insurance is typically covered by private insurance companies.
Home owners insurance laws are more to protect the banks. Once the mortgage loan is complete, then one doesn’t have to carry insurance, by law
Simplified perspective. Our 'free market' would freeze without the government and government entities assuming most of the risk. The FED, Fannie Mae, Freddie Mac, ....exist for that purpose. Federal subsidized healthcare. Flood insurance program. When a government entity signs off on anything the risk comes off the contractor completely. It goes on and on.
Heck no, am not paying for someone else annual damages. Move... Sell your house and leave. And if your house is no longer worth any penny, dump it and leave anyway. ....
🧂
Oh okay, because it's so easy to just move and sell. I'm sure you make all the best financial decisions... "You" should pay for your neighbors in need. You're no better than they are.
Oh no, paying for people who suffer from a disaster! That would just be so unthinkable! Severely disappointed in Niall for playing the centrist and not defending fellow citizens. 'They should've known better?' seriously? They can't predict disasters and need help, that's all that matters. The insurance companies should not be able to duck out of helping those in need. That's vile, Niall.
Hurricane Milton brought powerful winds, a dangerous storm surge and flooding to much of Florida after making landfall along the Gulf Coast as a Category 3 storm.
It weakened to a Category 1 storm as it moved through Florida early Thursday. Power outages were widespread and deaths have been reported from severe weather.
The cyclone had maximum sustained winds of 120 mph when it roared ashore in Siesta Key, south of the populated Tampa Bay region, the National Hurricane Center said. High winds, heavy rain and flooding hit areas including densely populated Tampa, St. Petersburg, Sarasota and Fort Myers.
I live in Oklahoma and can't afford home insurance. I am dressed out during tornado season. I can't imagine what those poor people are going through
The state needs to declare these homes disaster prone and for their deceease in value.
Not force them out but not force the home increases in value
So will Florida be a complete empty waste land with just hotels and theme parks?
THE COUNTRY needs better laws for INSURANCE COMPANIES!
Florida should have been left as mostly national park. It's been over developed and reefs, mangroves, wetlands destroyed for a cheap beach view. And coastal waters are fishery habitat - food. Just buy people out and quit building on barrier islands and on sand spits.
When I’m shoveling snow in Wisconsin I’ll be thinking about the poor people in Florida ! 🤣😂🤣
Ryan arguing for people not to live on the Florida coast when Asheville and every river city ever is essentially at the same risk. The argument to just move to bumbfuck nowhere is insulting.
I get Robbie's libertarian point about getting rid of national flood insurance, but the government believes they have a vested interest in Americans living there, so they insure it. Right or wrong, that's how it works in our country. We aren't pure capitalist, and we're definitely not pure communist, but we're a mixed economy.
It is all about risk assessment. The insurance industry knew this was coming, That is why they started leaving Florida a few years ago.
No they don't control the weather.They just rented a weeks time on a supercomputer to crunch the data. They had the resources in the financial motivation to do it.
Storms are not more extreme, there are more people and developed in more areas. Decades ago Florida was much emptier.
Buy the mandatory minimum insurance that the state requires, then take what you would spend on additional insurance and pack it away. Insurance will not help you, and if they do it’s a bonus.
If I ran an insurance company, I would dissolve the company before committing to an on the record disaster zone.
You should have actual insurance professionals explain why things are as bad as they are and what steps we can take to fix things. The rates are going to continue to increase until we get this under control.
Insurance is such a scam. Pay them only to never see a dime in return.
Personal responsibilty much??? Lets see....I want what I want...risky or not.....dont blame me that I chose to live in a high risk zone.....cry out to the federal government for help or in other words make others subsidize your choice. SMH....
These brain dead comments are beyond embarrassing. Areas that are being hit haven't been hit for literally decades, on in case of Tampa over a century genius. So, people should have a magic crystal ball when a weather event will destroy their home even if it hasn't happened in over a century...???
Seriously... try to find 2 brain cells to rub together before posting...
Flood coverage is not required in FL.
Totally agree with Robby
Ron Desantis is to blame. He's too busy fighting Mickey Mouse instead of fighting for better home owners insurance premiums.
These are second or third homes. If your home is flooding 3 times in a year you are not living there with a blue collar job.
Robbie is obviously 100% correct.
I live in snow country. I've seen 7 foot of snow. Literally. Four days of snow off the lake nonstop. It was really kind of pretty in a way when it was over. But a really terrifying pretty. I don't recall anyone from Florida or Arizona paying to remove that snow. I pay my taxes and I know that when I do, some of it is going to snow plows, salt, and personal. Shouldn't they just bump their taxes for an emergency fund to pay for what they know is coming? I mean, I know the snow is coming and they know the hurricanes are coming. OK, so the insurance isn't paying and the government (me) is going to have to pay. We're a charitable people so we're going to do that. Here's my solution. We'll pay for you to rebuild, but only above the high water mark. If that means you have to move to Georgia, oh well, Georgia it is.
Insurance Companies cannot expect you to gamble with the elements. The weather can be controlled by many beings. Whoever said life was fair?
this is why it's better to RENT!
Who owns everything then?
How do people get a mortgage without having the proper insurance to protect the property they are lending the money on. Im assuming who ever doesnt have insurance doesn't have a mortgage
Insurance companies should leave Florida. Let the State of Florida sort it out. This will replace the patchwork of insured and uninsured people with blanket statewide coverage.
So your a communist and hate freedom. Why not let the free market sort this out
I think if one person starts yelling about "Socialism!" (they always do!) that will be finished.
I’ve heard a lot of horror stories about the state government agencies in Florida. No one can ever be reached by phone, mail and emails are never answered, and even the forms on their websites don’t work. A lot of people have been put in very bad situations as a result, like the people who lost their jobs during Covid and the state utterly failed to distribute the federal money they were allocated for relief.
Really enjoying the chemistry between Robbie, Amber, and Niall. Good discussions, and civil disagreements. Excellent combination.
Are you blind? It's an echo chamber! Niall and even amber should've defended citizens in need. Instead of looking out for their neighbors, they're blaming the victim, saying they should've known better than to live in Florida for 20 years. Great chemistry
INSURANCES WILL USE THESE DISSASTER AS AN EXCUSE TO GOUGE PRICES FOR PEOPLE EVEN OUT OF FLORIDA
And while insurers are failing and claiming bankruptcy….I’ll bet their C level employees are getting record salaries and bonuses, right?
But they will let billionaires and hedge funds buys those properties and government will provide them insurance. For normal people middle finger.
Good idea, ban permits to risky uninsured places till we run out of them living in top of each other's, at least there's safety in numbers.
A lot of Australians in flood prone areas cannot afford insurance and there is no government program
INSURANCE shouldn't be forced... people shouldn't be forced to by HOUSING INSURANCE... Half the time they deny your claim anyways... they should just go out of business!
Its like a slumping slope, its inherently destabilizing - behavior is ride it and sell just before the failure! Problem is that property evaluations are not going down with remapping of the 100 year flood limits. Resulting lowered evaluations, impact tax income for municipalities and presumably would be magnified by speculative environments having echoes in the financial sector.
insurance companies aren’t in the business to lose money..
Wait, where are you getting information that fema’s food maps haven’t been updated in a decade?
The cliff comparison is logical
Robby is spot on here
Sorry Florida no state tax is not possible anymore.
The house, the house, the house is on fire!
Whats going on with the audio since they changed the studio?
It has less to do with greed and more a matter of good business sense.
Subsidise relocation , cheaper than subsidizing insurance . Tuff ! IT was fun while it lasted
Auto insurance was never a part of obamacare, what an idiot!
florida needs better rules for INSURANCE COMPANIES! UNBELIEVEABLE!
fantastic, you go ahead and tell me how much you will charge to insure my house. oh wait, you can't, the state only allows you to charge so much, it's not worth the risk for what you can charge.
@@branchingoutnurseries4403 I am not an insurance company. lol
Finally someone telling the truth 1:00
I finally agree with Robby
It is known literally for decades that these properties were taking too much risk. If they did not do their homework, the government should not bail them out.
Now, if the government does help them, then the government has a duty to house every homeless person in Florida. Since the government is not doing that today, they should not do it for people that have a house who are better off than the homeless.
A more cynical perspective. If the government bails these people out it is not be cause they are poor souls. On the contrary, this has been a prime real state and the people there should be sitting on or have millions of dollars. With that comes political influence. So they play the victim to get to use public money to cover their losses. Capitalism for the profits and socialism for the losses.
Of course, a politician's job is to find the compromise and pay close attention to the details. But the 35K feet view is that.
Noam Chomsky I think says "Privatize Profits and Socialize Losses".
Great piece
Robbie is right it’s rare to say that
Time to close Florida.