Among Friends

[newjersey]

Won't it take years to do so?    I read somewhere that the cost of the damage could come to $60 billion dollars.    Where do people go to live if they have no family or friends to help them out? I feel badly for them.

[SilleeMee]

Whenever natural disasters cause massive destruction, everyone's insurance rates goes up from coast to coast.  That's very concerning to me.

[meallen616]

[Sooner]

@newjersey Another good question is will the rest of us be able to get heating and cooing equipment, flooring, nails, glass, etc.  That aso concerns me too.

It's a risk of people building in very very high risk areas like this.  I don't know if their insurance rates are higher or not to begin with.  But truthfully it's coming. . . when those areas are populated it isn't a risk, it's a risk when.  

My cousin lived way out in the Keys, but her husband was a builder so it was get the crew in when a storm came through.  They would go hole up in Miami. 

[Estellee]

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@newjersey wrote:

Won't it take years to do so?    I read somewhere that the cost of the damage could come to $60 billion dollars.    Where do people go to live if they have no family or friends to help them out? I feel badly for them.

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@newjersey It probably depends too on if they have homeowners insurance. I know a lot of people that don't have it. Not sure about other parts of the country but here in South Florida it is super expensive because of Hurricanes.

[TheWanderingOne]

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@Sooner wrote:

@newjersey Another good question is will the rest of us be able to get heating and cooing equipment, flooring, nails, glass, etc.  That aso concerns me too.

It's a risk of people building in very very high risk areas like this.  I don't know if their insurance rates are higher or not to begin with.  But truthfully it's coming. . . when those areas are populated it isn't a risk, it's a risk when.  

My cousin lived way out in the Keys, but her husband was a builder so it was get the crew in when a storm came through.  They would go hole up in Miami. 

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They are, particularly on the barrier islands and other gulf/ocean front properties. Additionally, many insurers have pulled out of the state. The gulf front condo complex where I rent saw their master coverage policy premium go from $125,000 per year to nearly $500,000, and they had to cobble together coverage from multiple sources. This, of course, gets passed to the owners who see their monthly association fees skyrocket. 

[Kachina624]

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@Sooner wrote:

@newjersey Another good question is will the rest of us be able to get heating and cooing equipment, flooring, nails, glass, etc.  That aso concerns me too.

It's a risk of people building in very very high risk areas like this.  I don't know if their insurance rates are higher or not to begin with.  But truthfully it's coming. . . when those areas are populated it isn't a risk, it's a risk when.  

My cousin lived way out in the Keys, but her husband was a builder so it was get the crew in when a storm came through.  They would go hole up in Miami. 

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@Sooner.  Last night I heard that the average homeowner in Florida pays about $11,000 per year for homeowners insurance.  I suppose auto insurance is also high.  Many policies have been canceled.  

These rates are outrageous and many can't afford them so they've canceled their policies. 

Apparently things aren't perfect in paradise.  

[SilleeMee]

Insurance providers are leaving the area b/c they can't afford to payout especially in areas such as Florida where disaster strikes more than they can afford to cover. Some homeowners claims have been left hanging with no one to pay for the damages. 

[BlueFinch]

With disastrous weather occurrences, we're all impacted. First, it's terrible to watch such suffering of those in the zones struck. I was up half the night watching the news coverage. Frightening.

Then the realization strikes, that all of us who carry insurance will see our rates increase. So many people are taking the risk and dropping coverage already due to high cost.

Will that happen to all of us eventually? In the years to come, if weather becomes more unpredictable, none will escape the pain directly, indirectly, or both. 

[SilleeMee]

@BlueFinch 

We're gonna need a separate special kind of insurance policy to cover our homeowners insurance premiums when we no longer can afford to pay the premiums. Insurance to cover insurance...what?! Is there such a thing? LOL!