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Originally Posted by justjim
Although the insurance company rep will tell you something different, with the big companies you are paying for all those wild fire disasters out West. Like the oil companies the insurance industry will use any excuse to raise your rates.
The scary part and high risk in Florida is not hurricanes (especially in TV) but the sink holes that happen everyday in Florida and it is getting more and more difficult to get sink hole insurance. My guess it will soon be like flood insurance----only available through government. "Relax", those living on the coast are paying up to 10 times what we are paying for our insurance----if they take flood insurance. It seems many are "greedy" these days. It is what it is.
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Those who do choose to have dwellings in harms way like beach front or any water property should be paying 10 times more than the rest of us. Or even more if what they pay does not cover the insurers or re-insures for losses in those particular areas.
Just like I firmly believe those who live in those areas should be paying an assessment to replenish sand and recover water damage to their property......now the state/your taxes pays for it.
Hurricanes just happen to be off the screen (pun intended) right now and have been for a couple of years....they'll be back.
The first 5+ years here in TV one never heard much about sink holes....now they are the insurance companies new event to exploit.
Sink hole insurance is in the same category as deciding whether to have lightning rods put on your home. Either one is nothing more than a roll of the dice.....regardless what one hears, especially from an insurance agent.
Insurance agents have made used car salesmen an honorable group by comparison.....in my humble opinion.
btk