$12,700 for Home insurance

**alnorth** · 05-03-2006, 10:34 PM

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.

Moooo · 05-03-2006, 10:47 PM

Quote:

Originally Posted by alnorth

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.

That's part of the problem with an insurance company being a part of free enterprise. They don't want to help you, they want your money, and nothing else! Someone will always offer coverage, but if its so much, paradise is going to end up being lost.

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

Simplex3 · 05-03-2006, 10:50 PM

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?

**DaneMcCloud** · 05-03-2006, 11:15 PM

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.

Moooo · 05-03-2006, 11:31 PM

Quote:

Originally Posted by DaneMcCloud

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.

I don't know what the Hills and Lowlands are all about in LA talk, but hell, 4k a year is a drop in a hat for the price of yout guys' real estate prices.

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

05-03-2006, 10:34 PM
alnorth . Join Date: Dec 2002 Casino cash: $57166239	$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.
Posts: 36,130

05-03-2006, 10:50 PM	#3
Simplex3 MVP Join Date: Sep 2003 Casino cash: $10004900	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?
Posts: 28,527

05-03-2006, 11:15 PM	#4
DaneMcCloud Supporter Join Date: Sep 2000 Location: Hollywood, CA Casino cash: $10053648	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.
Posts: 88,960