strollingbones
Diamond Member
say what? come on frank try not to be a total moronSo are all those homeowners defrauding NC, you know, like Trump in NY?
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say what? come on frank try not to be a total moronSo are all those homeowners defrauding NC, you know, like Trump in NY?
If they can’t get insurance that greatly decreases the value, right?say what? come on frank try not to be a total moron
Same reply as above!my neighbor who is not that far from us pays flood insurance even tho he place has never flooded...it is such a racketter
Understood, but I don't think the mortgage companies will enter that market. They don't really care if the borrower is made whole or not as long as their investment (the loan) is paid back.I don't mean mortgage insurance. I mean casualty insurance, fire and theft.
yes they are....its not hard to see how stupid americans have become with the cheers for trumpSame reply as above!
America is trying to teach Canukistan how to be better commies!
Are Americans becoming completely ignorant on how insurance companies work?
They may do it for the same reason new home builders do it. To make money.Understood, but I don't think the mortgage companies will enter that market. They don't really care if the borrower is made whole or not as long as their investment (the loan) is paid back.
I've always had faith that you would go commie with me before most of the others.Understood, but I don't think the mortgage companies will enter that market. They don't really care if the borrower is made whole or not as long as their investment (the loan) is paid back.
Flood insurance is kind of misunderstood. It covers many things that you would think should be covered by a simple homeowners policy. Sewer back-up is one such event that is not commonly covered under a homeowners policy, but is under flood insurance. There are a few others.my neighbor who is not that far from us pays flood insurance even tho he place has never flooded...it is such a racketter
That is why the insurance companies are raising their rates--pay outs are cutting into their bottom line.They may do it for the same reason new home builders do it. To make money.
Wrong answer friend. Insurance companies spread their experience over large geographic areas.Flood insurance is kind of misunderstood. It covers many things that you would think should be covered by a simple homeowners policy. Sewer back-up is one such event that is not commonly covered under a homeowners policy, but is under flood insurance. There are a few others.
In California they are bailing completely. Even car insurance companies are dumping the state.That is why the insurance companies are raising their rates--pay outs are cutting into their bottom line.
CA has had options in place for these cases for over sixty years that I know of. When I was young, like many young guys, my driving record wasn't the best and I had trouble getting insurance. CA had a program in place, and still does, called "assigned risk" All auto insurance companies in the state were required by the state to provide policies that were subsidized by the state and other rate payers and these risks were spread among all insurance companies. I don't necessarily agree with it, but it was welcome the couple of times that I was the assigned risk.In California they are bailing completely. Even car insurance companies are dumping the state.
In some countries gubmint steps in and imposes limits!
In B.C., Canukistan the gubmunt insurance is a booming success.
Now insurance companies are just leaving. Risk has nothing to do with it. All-State has been gone for awhile. State farm isn't writing new policies. Farmer's is not writing new policies.CA has had options in place for these cases for over sixty years that I know of. When I was young, like many young guys, my driving record wasn't the best and I had trouble getting insurance. CA had a program in place, and still does, called "assigned risk" All auto insurance companies in the state were required by the state to provide policies that were subsidized by the state and other rate payers and these risks were spread among all insurance companies. I don't necessarily agree with it, but it was welcome the couple of times that I was the assigned risk.
The increased costs of labor and materials has a lot to do with it as well. Bidinflation--er, excuse me, Bidenomics.No, the reason for the increased losses is the heavy demand for seaside and water-adjacent properties
Yeah, I imagine that CA's stance on illegal immigration and the state's requirement that companies insure these illegals has a lot to do with it too.Now insurance companies are just leaving. Risk has nothing to do with it. All-State has been gone for awhile. State farm isn't writing new policies. Farmer's is not writing new policies.
if you can afford a beach home on the outer banks you can afford you own damn flood insurance