Climate Hoax

[Caveira]

5 minutes ago, WrestlingRasta said:

I don’t understand the question 

If it’s guaranteed to have a total loss of the property in n years because science.   It’s guaranteed to be part of the ocean.  Why am I giving anyone any $ insurance , banking , anyone….

Edited 4 hours ago by Caveira

[WrestlingRasta]

21 minutes ago, Caveira said:

If it’s guaranteed to have a total loss of the property in n years because science.   It’s guaranteed to be part of the ocean.  Why am I giving anyone any $ insurance , banking , anyone….

Who said anything about guarantees of anything, let alone total loss.  I honestly don’t understand what you’re talking about.  

[Scouts Honor]

46 minutes ago, WrestlingRasta said:

Not trying to get into the climate pissing contest….but there’s this industry they call ‘insurance’.  And you should look into how many insurance companies have pulled out of Florida and won’t do business there anymore because of the huge increase in losses.  Then from there you can go into rate increases and additional riders, etc that have grown over the years.  
 

That said, a huge part of the increase of damages over the years is due to more and more building along the coasts.  At least here in Florida. 

not disagreeing about the increase in losses..

but could some of the increase be in the increase in costs to replace, not to mention the increase in values?

[WrestlingRasta]

30 minutes ago, Scouts Honor said:

not disagreeing about the increase in losses..

but could some of the increase be in the increase in costs to replace, not to mention the increase in values?

Exactly, that’s what I was saying. More and more building along the coasts.  A house right on the coast is significantly higher value than same house 2-3 miles inland.  More homes in flood zones, etc etc.  Obviously not all homes damaged in a storm is a total loss.  But over the last few years we have seen more and more homes destroyed.  
 

My house is about five miles in from gulf waters.  My damage bill from Ian was about 50% of home value even though it was about 75% destroyed.  But the houses that are total loss….that’s a big chunk to the insurance companies and there has been enough loss over the last ten years many are pulling out of Florida.  But a lot of that is by actions of man, (building along the coasts, breaking down natural barriers to build on the coast also poses a greater risk to homes more inland) not necessarily increase power of storms. 

[red viking]

Ask the insurance companies. Or are they part of this grand liberal conspiracy too? 

[Scouts Honor]

i bet they insure martha's vineyard

[Offthemat]

Why are insurance companies leaving Florida?

The big question is: Why are insurance companies pulling out of Florida? The reasons behind the home insurance crisis in Florida are complicated, but several key factors have a big impact.

• Soaring litigation costs. The Insurance Information Institute (Triple-I) published a brief on the Florida insurance crisis. It noted that a 2017 State Supreme Court decision allows courts to award a plaintiff's attorneys two to two-and-a-half times their hourly billing rate when courts rule in favor of policyholders. The result is more lawsuits. Triple-I says Florida accounts for 79% of insurance lawsuits filed, with only 21% in the rest of the country.
• An increasing number of reinsurers who have chosen to retreat from the state in the face of rising litigation. The Florida market is home to several smaller insurers who rely heavily on reinsurers and the booming housing market along coastal counties, which are more prone to flooding and hurricanes.
• Severe weather. Those hurricanes are incredibly costly; Hurricane Ian caused $113 billion in damage and Hurricane Helene and Milton caused billions more.

The bottom line? Florida homeowners are projected to pay higher rates and find it more difficult to get coverage at all as Florida insurance companies in trouble look to reduce risk or leave altogether.
 

https://www.insurance.com/home-and-renters-insurance/home-insurers-leaving-florida
 

You just knew it had something to do with the government.