Billions and billions of damage

[Horse with no Name]

The cost will be passed to anyone who has insurance.
I don't mind the socialized risk of the insurance pool...but I do mind lining pockets of the uber wealthy (like trump) who will file claims in losses in these storms.
Perhaps the conversation needs to be that the insurance companies will cover only the median cost of the average home in the areas affected?
With more storms and climate related disasters that are ongoing, I don't mind my resources being used to make sure people get back into their homes, I do have somewhat of an issue that my rates will be raised to pay for the luxury items of other folks.
If we have to listen to this argument regarding women's healthcare--then I sure as hell want to make it when I am paying for someone's bass boat.

[BigmanPigman]

1. ...EVERYONE'S healthcare, but women in particular. I agree!

[marylandblue]

2. You pay higher premiums for more expensive homes

as it should be. So I don't mind that. But we really should stop rebuilding home subject to coastal flooding. Just give them money to buy an equivalent home inland.

[Horse with no Name]

4. Do you think their premiums come anywhere

Close to their losses?
Didn't we hear that trump pocketed millions in insurance companies from the last hurricane that hit Florida?
Do you think he's the only one that did that?
We just had major devastation along the Texas coast. We just had major devastation along the Florida coast.
We are likely to have damage along the Eastern seaboard from Jose.
We have wildfires raging across the west and Northwest.
This doesn't take into account routine house fires, flooding and accidents.
Whether or not you live in the path of any of these disasters, you are going to pay for it.
So...the question was to we limit insurance responsibility to what is customary and reasonable and allow people to pay to replace their luxury items or do we foot the bill and the rest of us pay--realizing that at a point, at this pace, the money will run out and if disaster happens to us, the insurance companies could be bankrupt?
I also agree that we have to stop building in these areas that are prone to this.
I read that there is a house (I believe in Florida) that has been rebuilt
Multiple times in the last few years.
At a point, when do we as a society get off the hook for repeated bad decisions?

[fescuerescue]

6. Individual losses?

Of course not. That's why people pay insurance premiums. If the premium was equal to the expected loss, everyone would just bank their insurance payment and then use that money to replace.

For the region/nation? Absolutely. That's why insurance companies do business and collect premiums. Because they make more money off premiums than they pay out in claims.

[liberaltrucker]

3. Am I the only one who read that headline in Carl Sagan's voice?

[OldHippieChick]

5. I remember folks during Katrina and the

fights they had w/ their insurance companies. Many actually did have hurricane insurance which covered wind damage, but did not cover flooding. It was pretty outrageous how many people really got screwed by their insurance co's and I am talking nearly every large company you can name. It wasn't just the small ones. That is partly why people have to turn to the gov't for help. The added insult is once they rebuild, they will not be able to get insurance.

[Igel]

7. Flood insurance in those areas is almost entirely through the government.

They can get insurance.

In some areas you can't get private flood insurance. But in the areas where you really need it, there's a federal program that isn't self funding. In other words, it's routinely in need of income tax dollars to keep it afloat. In areas with private and public flood insurance the federal stuff is usually cheaper. The private insurance self-funds with a bit extra tossed in.

My house insurance is clear. It includes hurricane damage from wind. It explicitly does not include flood damage. It was the same when I rented an apartment.

Note that FEMA has a voluntary buy-out option for some houses that repeatedly flood. If they offer and you turn it down, you can still get NFIP coverage.

[ProfessorGAC]

11. Our Friends in KW All Have Flood Insurance

It's expensive but necessary. Water damage from this storm could easily be enough to wipe them out if they didn't carry the flood insurance.

I'm not sure about our friends in the upper keys, but i'll assume yes. They're pretty sharp cookies.

[Egnever]

8. Oh boy

This differs from say social security how?

I don't mind people getting social security who worked till retirement but all those folks on disability are leachers getting more than their fair share.

Ridiculous.

Just more when it happens to me it is justified but other folks don't deserve it nonsense.

[Horse with no Name]

9. But there is a cap on Social Security

To protect the wealthy from paying their fair share.

[williesgirl]

10. I can't believe you made that comment about folks on Disability!

What is the basis for your opinion? I couldn't disagree with you more.