Here's an idea: For hail damage to roofs, allow insurers to only pay for a contractor to apply roof cement to the hail damaged spots on the shingles. It would be vastly cheaper than installing a whole new roof. The biggest potential drawback would be the appearance. But a potential solution would be for the contractor to have some fine aggregate, that color matches the existing shingles, that they could sprinkle on the cement while it is still wet.
Perhaps it's time for the construction industry to develop new and better products. An indestructible or near indestructible roof cannot be an impossibility (!?!)
There are near indestructible roofs rates 5 for hail And wind damage. Heavy steel roofing like schools have is near indestructible but only near and five times as expensive.
Construction businesses are not going to support the installations of near indestructible structures because that would mean less business and thus less money coming in.
@@prodigalpriest on the contrary buyers will not support the prices on much more durable homes because people are programmed to go with the cheapest price. Most people but houses like they but cars. You literally can’t convince them that one is better than an another and there fore costs more.
These people are talking suck BS… and they don’t want to tell you the truth…. Here it is… 1. Extreme weather events are more frequent and causing more damage. 2. The only way to truly solve the problem which they won’t tell you is to change building codes so that your structures don’t take as much damage. 3. Competition isn’t going to solve anything. Any insurance company in a high risk market is going to lose money. Remember that story… the 3 little pics… one pig built their house with straw, while the second build their house with sticks…. The third little pig spent the e tire day and build their house with bricks…. You all built straw and stick houses and they’re getting blown away… because you didn’t work hard like the third little pig. No one wants to tell you this because it’s not good news and you can’t have your fragile feelings hurt.
It's not a coincidence that this is happening concurrently with record inflation. They could choose to just raise premiums to match repair/rebuild cost, however they would be called greedy in addition to having to predict inflation the entire term of policy. It's easier to just pull out from a PR standpoint and offer different insurance products in profitable segments
I don't get how and where these figures come from snd converge to make sense across the local markets. Because INSURANCE IS A FREE CAPITAL INDUSTRY right? And FREE CAPITAL meaning CASH AT NO COST LIKE INTEREST RATES AND WITHOUT REPAYMENT PROMISES aka the float. So when did this notion that INSURANCE COMPANIES ACT HAS FIDUCIARY MANAGEMENT OF THE COMMUNITY RESERVE come into the convo? They invest in the market USING PREMIUM CASHFLOW and use that investment return to fund the claims they took the risk on. IF INSURANCE COMPANIES HAVE BEEN LOSING MONEY QUARTER AFTER QUARTER AFTER QUARTER FOR YEARS THEN WHY TF HAS THE MARKET BEEN UNSTOPPABLE? DID THE INSURANCE COMPANIES BET ON RECESSION?? IS THIS THE ATTEMPTED SHORT ON AMERICAN MARKETS GOING WRONG??? IF INSURANCE COMPANIES ARE LOSING THAN WHY DOES WARREN BUFFET KEEP FCKN WINNING? receipts please
The future will be more tiered policies. Fire as basic but roof/hail, flood optional. This will mean that people without cash to buy in full will not be able to buy houses, as mortgage issues will not shoulder that risk. Eventually this will mean zoning changes, much smaller houses, or multi unit properties rental and condo developments where they were once illegal.
My insurancd decided no to cover me after 2 months, so it came up with the roof is too old and trees too close to my home. Another insurer cancelled my policy with it, because they didn't want to deal with my Father anymore when settling claims and I wouldn't throw him out or put him in a nursing home just to satisfy them. I am in MS.
This is late stage capitalism. Even though the wealth gap is the highest it's EVER been in history, it will continue at a rapid pace until the entire system collapsed in a debt spiral or the bottom 90% overthrow and reset this system or more likely a new one.
In California the cost of earthquakes became too costly so they just excluded it from normal insurance policies so the insurance companies would not pull out. Instead, people can buy earthquake coverage from the state. Minnesota could do the same for hail damage. However, very few people buy earthquake coverage as the cost is very high as there is not enough participation to spread the costs over those without damage. The deductibles are also very high. In other words, most people choose to be uninsured due to cost and are just hoping FEMA will give them low cost or free loans to rebuild when big earthquakes happen. It remains to be seen if socialism will bail people out in a big earthquake. Interestingly, banks do not require mandatory earthquake coverage like they do for fire and flood insurance which sounds fishy to me. In a large earthquake, if the government does not bail people out, they will default on their loans and walk away which could bankrupt banks. Then what?
If I were a bettin man, I'd bet Dave's insurance cancelled on him due to frequent earthquakes. He's literally in the middle of one during the interview! Earthquakes are so frequent in his home that it's become the new norm for him if you see just how unalarmed he is at his whole shaking the whole time.
I clicked on this think it was a video regarding cats with hands! What a colossal mix up! These cats were suppose to have tiny human hands for paws and I get this… a video regarding homeowners insurance, what a bore
@@Sonofawildanimal They build new apartment buildings the same way. Foundation and basement are concrete, yet the rest of it is particle board and 2x4s!
It's too late. Google "climate tipping points". Once you knock over the 1st domino, you set off an un-stoppable chain reaction. We need to drop emissions by 94% by the end of this decade. If we started doing something 20 years ago, we'd only have needed to drop emissions by a few percent per year. We missed our window. We briefly went above 2 C this year. Going above 1.5 C was something that would be catastrophic & we went above 2 C & we aren't even close to stopping. It's over, the dominos have been set off. Billions of people are going to starve in this century.
Here's an idea: For hail damage to roofs, allow insurers to only pay for a contractor to apply roof cement to the hail damaged spots on the shingles. It would be vastly cheaper than installing a whole new roof. The biggest potential drawback would be the appearance. But a potential solution would be for the contractor to have some fine aggregate, that color matches the existing shingles, that they could sprinkle on the cement while it is still wet.
Sounds like insurance companies should have laid off the lattes and avocado toast and saved some money for future business needs 🤷♀️
It their job … their job is to make profit on policies … competitive market Job is to minimize that profit
Nothing to do what “politicians” believe
Perhaps it's time for the construction industry to develop new and better products. An indestructible or near indestructible roof cannot be an impossibility (!?!)
There are near indestructible roofs rates 5 for hail And wind damage. Heavy steel roofing like schools have is near indestructible but only near and five times as expensive.
That is possible but would make the cost of mortgage worse than it's today. Imagine how much would cost an indestructible house. Won't be cheap 😢
Construction businesses are not going to support the installations of near indestructible structures because that would mean less business and thus less money coming in.
@@prodigalpriest on the contrary buyers will not support the prices on much more durable homes because people are programmed to go with the cheapest price. Most people but houses like they but cars. You literally can’t convince them that one is better than an another and there fore costs more.
These people are talking suck BS… and they don’t want to tell you the truth….
Here it is…
1. Extreme weather events are more frequent and causing more damage.
2. The only way to truly solve the problem which they won’t tell you is to change building codes so that your structures don’t take as much damage.
3. Competition isn’t going to solve anything. Any insurance company in a high risk market is going to lose money.
Remember that story… the 3 little pics… one pig built their house with straw, while the second build their house with sticks…. The third little pig spent the e tire day and build their house with bricks….
You all built straw and stick houses and they’re getting blown away… because you didn’t work hard like the third little pig.
No one wants to tell you this because it’s not good news and you can’t have your fragile feelings hurt.
WEF says that "You will own nothing and be happy". Are we understanding yet? This is all the plan.
True in California and Montana too.
Maybe the insurance industry will paint themselves into a corner and end up with no clients.
It's not a coincidence that this is happening concurrently with record inflation. They could choose to just raise premiums to match repair/rebuild cost, however they would be called greedy in addition to having to predict inflation the entire term of policy. It's easier to just pull out from a PR standpoint and offer different insurance products in profitable segments
They TOOK the money and ran!
They took our jobs!
Thanks for the video, it was very informative.
I don't get how and where these figures come from snd converge to make sense across the local markets. Because INSURANCE IS A FREE CAPITAL INDUSTRY right? And FREE CAPITAL meaning CASH AT NO COST LIKE INTEREST RATES AND WITHOUT REPAYMENT PROMISES aka the float. So when did this notion that INSURANCE COMPANIES ACT HAS FIDUCIARY MANAGEMENT OF THE COMMUNITY RESERVE come into the convo? They invest in the market USING PREMIUM CASHFLOW and use that investment return to fund the claims they took the risk on.
IF INSURANCE COMPANIES HAVE BEEN LOSING MONEY QUARTER AFTER QUARTER AFTER QUARTER FOR YEARS THEN WHY TF HAS THE MARKET BEEN UNSTOPPABLE? DID THE INSURANCE COMPANIES BET ON RECESSION?? IS THIS THE ATTEMPTED SHORT ON AMERICAN MARKETS GOING WRONG??? IF INSURANCE COMPANIES ARE LOSING THAN WHY DOES WARREN BUFFET KEEP FCKN WINNING?
receipts please
The future will be more tiered policies. Fire as basic but roof/hail, flood optional. This will mean that people without cash to buy in full will not be able to buy houses, as mortgage issues will not shoulder that risk. Eventually this will mean zoning changes, much smaller houses, or multi unit properties rental and condo developments where they were once illegal.
My insurancd decided no to cover me after 2 months, so it came up with the roof is too old and trees too close to my home. Another insurer cancelled my policy with it, because they didn't want to deal with my Father anymore when settling claims and I wouldn't throw him out or put him in a nursing home just to satisfy them. I am in MS.
This is late stage capitalism. Even though the wealth gap is the highest it's EVER been in history, it will continue at a rapid pace until the entire system collapsed in a debt spiral or the bottom 90% overthrow and reset this system or more likely a new one.
In California the cost of earthquakes became too costly so they just excluded it from normal insurance policies so the insurance companies would not pull out. Instead, people can buy earthquake coverage from the state. Minnesota could do the same for hail damage. However, very few people buy earthquake coverage as the cost is very high as there is not enough participation to spread the costs over those without damage. The deductibles are also very high. In other words, most people choose to be uninsured due to cost and are just hoping FEMA will give them low cost or free loans to rebuild when big earthquakes happen. It remains to be seen if socialism will bail people out in a big earthquake. Interestingly, banks do not require mandatory earthquake coverage like they do for fire and flood insurance which sounds fishy to me. In a large earthquake, if the government does not bail people out, they will default on their loans and walk away which could bankrupt banks. Then what?
If I were a bettin man, I'd bet Dave's insurance cancelled on him due to frequent earthquakes. He's literally in the middle of one during the interview! Earthquakes are so frequent in his home that it's become the new norm for him if you see just how unalarmed he is at his whole shaking the whole time.
Add 1,000 tornadoes to the Midwest and 10,000 severe weather reports and the insurance industry has lost this war. It's time to fold.
Lost or stolen?
I clicked on this think it was a video regarding cats with hands! What a colossal mix up! These cats were suppose to have tiny human hands for paws and I get this… a video regarding homeowners insurance, what a bore
Insurance is a fancy word for gambling; When the odds become so overwhelming against an Insurer (gamblers) will the gamble pay-off?
Find me one place that isn't high risk anymore
Don't buy a crappy house with siding that flies off with the next strong wind!
Are you saying that insurance brokers are targeting those living in crappy houses with siding that flies off when the wind picks up?
You mean don’t buy a newly built home. They’re all built fast and cheap
@@Sonofawildanimal They build new apartment buildings the same way. Foundation and basement are concrete, yet the rest of it is particle board and 2x4s!
Those eyebrows though.... Stop ...I can’t focus ...Who drew those??? ...😂🤣😂🤣 Fyi...there are eyebrow stencils available online.
Sorry, I missed the eyebrows - I was focused on the long forehead - looked like the deck length of an aircraft carrier.
Vote for leaders who will DO SOMETHING about climate change
It's too late. Google "climate tipping points". Once you knock over the 1st domino, you set off an un-stoppable chain reaction.
We need to drop emissions by 94% by the end of this decade. If we started doing something 20 years ago, we'd only have needed to drop emissions by a few percent per year. We missed our window. We briefly went above 2 C this year. Going above 1.5 C was something that would be catastrophic & we went above 2 C & we aren't even close to stopping.
It's over, the dominos have been set off. Billions of people are going to starve in this century.
Greed greed
Insurance companies are unwilling to take risks as claims reduce their profits.
Can't watch Esme. Bye Bye