$12,700 for Home insurance
If you live in paradise, be prepared to pay the price.
http://today.reuters.com/news/articl...id=&cap=&sz=13 The hurricane risk is so bad in Florida, that most insurance companies in the nation are saying "to hell with the potential profit", and bailing out of the state completely. |
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What I'm looking forward to is the day people aren't willing to pay what the Insurance companies have to charge in order to not lose money (cause they're still cashing in as of now). The real estate will plummet. Moooo |
Here's how I see it:
You build a house that can't withstand a hurricane in a part of the world where hurricanes hit at least once a year, then you want to be upset because of the price of your homeowner's insurance. Other than Cape Canaveral there aren't many rocket scientists in FL, huh? |
My home owners insurance is $4,000 a year and Earthquake insurance is another $950. Most of the Hollywood Hills are considered "burn" areas, so it's far more expensive than the "lowlands". Earthquake insurance only covers the structure, not the property inside. The insurance companies learned their lesson after the Northridge earthquake of 1994.
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Gotta love living in a city where a 2,000 house is easily obtainable for under 150k, and there are no hurricanes or earthquakes Moooo |
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