Quote:
Originally Posted by Rainger99
70,000 homes paying $1500 a year is $105,000,000.
How far would that go? Lightning fires, lawsuits, sinkholes, every year and then a major catastrophe-tornado, hurricane, every10 years.
Hopefully we have some retired insurance people or actuaries that can comment.
|
$1500 a year. That is going to dis appear. Ours has doubled in last 2 years. We live in a neighborhood with <100 homes and I know of 4 homes that had claims over last year and those 4 alone had payments of about 500K. 3 were for lightning strikes. That is high but if we averaged out the claims, claim cost alone for each resident would be 5K($500,000/100). That does not include other costs, agent commission etc.