Florida peeps. Prepare for this storm!

[Coochie liquor]

Looks like it may intensify quickly in the hot gulf waters. We haven’t been hit in the Bay Area in a long ass time. Gonna be rough most likely. Stay safe peeps!

[BWillie]

Originally Posted by Bearcat

Insurance companies don't make money on their business, they make money by investing.... so of course they aren't making money right now, because nobody is making money investing right now.

As opposed to say a few years ago when they made nine billion dollars in profit. Hopefully they stuffed some under the mattress, poor guys.

Insurance companies should be non-profit, then even though they'd still pay their top leadership $20 million a year and spend a billion dollars on advertising, at least it wouldn't be such a scam for the vast majority of people who either don't file claims or have to fight tooth and nail when they actually need a little of the money back.

Farmers Insurance CEO makes 2million dollars a year.

My GF actually just got laid off by an insurance company yesterday. Tough times for that industry for profitability.

[Valiant]

Yeah I told my cousin to call his vacation and car rental place. He is supposed to fly into Orlando and go to Tampa for a week starting Wednesday. I was like, have you been watching the news?

Hopefully it gets downgraded and no damage to anyone.

[BigRedChief]

Originally Posted by Valiant

Yeah I told my cousin to call his vacation and car rental place. He is supposed to fly into Orlando and go to Tampa for a week starting Wednesday. I was like, have you been watching the news?

Hopefully it gets downgraded and no damage to anyone.

I think they are closing all the area airports this afternoon and into Wednesday. Better have your bud check his flights.

[FlaChief58]

We're all prepared (as much as possible). The current track has us just outside of the cone, which is a good thing. Hopefully that trend continues and it keeps moving NW

[Spott]

Still perfect weather in Orlando right now and looks like flights are still on schedule. Orlando airport announced that they don’t foresee any impact on their operations today or tomorrow.

[DaKCMan AP]

Will place sandbags this afternoon then go stay farther inland as we're in a mandatory evacuation zone. Not worried about wind. Storm surge/water is the concern. Hope to go home tomorrow afternoon.

[Eleazar]

[BWillie]

Originally Posted by Razaele

Took 52 posts.

[DrunkBassGuitar]

Originally Posted by DaKCMan AP

Will place sandbags this afternoon then go stay farther inland as we're in a mandatory evacuation zone. Not worried about wind. Storm surge/water is the concern. Hope to go home tomorrow afternoon.

stay safe friend

[penguinz]

[Bearcat]

Originally Posted by BigRedChief

Which in turn puts the tornado, hurricane, wildfire, earthquake home owners against each other. Ohhh we are poor. We lay out too much money.

I gave you my premium numbers above. The maximum if I somehow actually got the money from the insurance company is $200K even though its worth 4X that amount. Just in premiums, I'd pay that $200K off in 25 years. Without rates going up.

In all of the 150 years of hurricane recorded history, a cat 2 or above hurricane has never hit this area. Theoretically, the insurance could have covered the total losses on my property 10.5 times.

I feel like it in that case they should jack up the deductible and have that max amount in place.... that mitigates their cost while acknowledging the low risk.

Jacking up your annual cost like that is just helping to pay back previous hurricanes while they still make billions of dollars most years.

And you shouldn't get market value back, should just be replacement cost... I think the max makes sense to lessen the cost of huge houses along the coast (of course the premium is higher to begin with).

[BigRedChief]

Originally Posted by Bearcat

I feel like it in that case they should jack up the deductible and have that max amount in place.... that mitigates their cost while acknowledging the low risk.

Most if not all get the max amount of $200K. Most have $5K deductible.

Originally Posted by Bearcat

And you shouldn't get market value back, should just be replacement cost... I think the max makes sense to lessen the cost of huge houses along the coast (of course the premium is higher to begin with).

No one ever gets back their market value. There are no $200K houses on the water.

The $200K number is too rebuild the house. The land is what has the most value for most, its not going anywhere. Which is why there is a limit of $200K.

[Bearcat]

Originally Posted by BigRedChief

Most if not all get the max amount of $200K. Most have $5K deductible.
No one ever gets back their market value. There are no $200K houses on the water.

The $200K number is too rebuild the house. The land is what has the most value for most, its not going anywhere. Which is why there is a limit of $200K.

Seems kind of nuts to pay $5k year for hurricane-only flood damage AND shell out another $5k if it ever happens.

There's no option to jack up your deductible to save money on the premium?

I'd much rather have like a $20k deductible, if not higher, since at that premium, you would be paying that every 4 years anyway.

Regular home owners might be different depending on how much you use it for non-hurricane things, even though paying more per year than the deductible is still nuts if they don't give you any option.

[WilliamTheIrish]

Originally Posted by FlaChief58

We're all prepared (as much as possible). The current track has us just outside of the cone, which is a good thing. Hopefully that trend continues and it keeps moving NW

This guy is a real solid follow without they hype.

Quick update on #Idalia, although NHC did kick up the intensity a bit to 110 knots (125 mph), that's not really making things too much worse except right around the landfall location. The track didn't shift at all really except at the very end, out over the water. To give you… pic.twitter.com/BuySFJUiZW

— Enki Research (@EnkiResearch) August 29, 2023

[BigRedChief]

Originally Posted by Bearcat

Seems kind of nuts to pay $5k year for hurricane-only flood damage AND shell out another $5k if it ever happens.

There's no option to jack up your deductible to save money on the premium?

I'd much rather have like a $20k deductible, if not higher, since at that premium, you would be paying that every 4 years anyway.

Regular home owners might be different depending on how much you use it for non-hurricane things, even though paying more per year than the deductible is still nuts if they don't give you any option.

Most of the new loans don’t allow it. When we refinanced back when rates were 2.5% the banks made us do what they wanted or no loan. Same with other banks. Max out coverage. Roof has to be less than 5 years old. Have straps to hold it down. Maximum 5K deductible.