Homeowners insurance rate hike (FL)

[MSCH]

at a certain point,as a Floriduh resident and owning my home outright
the cost of homeowners insurance will outweigh the risks of self insuring
and I wont have any.

I dropped windstorm coverage a few years ago, that cut the insurance cost in half

several of my friends have not had insurance for years
or as my buddy said about it
if I put 7k away a year that I would have spent on my next roof
I will be fine

 

[MSCH]

we paid 110k for the old house and property we once had in Ocala.. that was in the late 90's.
during the housing boom probably could have borrowed a million on it

I think Marion County's tax rate is higher than it is where I am now.. I think we are around 12 mills in Collier County.
call me lucky but I bought this house in 2011 at the bottom of the market and am locked in on taxes at that low rate.

 

[alarmguy]

I can only assume at some point there will be a new agency in DC.
Federal Homeowners Insurance Agency much like the federal flood insurance.
I HATE big government but that cat is out of the bag, so why not create an agency that gives nothing away but is paid for by the people who need insurance.
It's clear the profit model for big insurance corporations isnt there so then maybe time for big government to offer a federal self sustaining insurance system. Clearly the system isnt working for people being squeezed.

Just todays thoughts as I drink my coffee and cant even believe I am typing this. But the flood insurance program works so why not a homeowners insurance program covering everything. Unless it can be proven that it will be no better rate wise. I would find that hard to believe.
Im only typing this, as against big government as I am but this insurance things isnt only Florida anymore. Since I live in a coastal area I see what is happening all over the east coast as well. Im only proposing a national not for profit program like the flood insurance that exists. Think that might even sound plausible compared to all the other things we are literally giving away for free, this cost the taxpayers nothing.

 

[MSCH]

I can only assume at some point there will be a new agency in DC.
Federal Homeowners Insurance Agency much like the federal flood insurance.
I HATE big government but that cat is out of the bag, so why not create an agency that gives nothing away but is paid for by the people who need insurance.
It's clear the profit model for big insurance corporations isnt there so then maybe time for big government to offer a federal self sustaining insurance system. Clearly the system isnt working for people being squeezed.

Just todays thoughts as I drink my coffee and cant even believe I am typing this. But the flood insurance program works so why not a homeowners insurance program covering everything. Unless it can be proven that it will be no better rate wise. I would find that hard to believe.

and next you will be thinking that some sort of national health insurance might be a good idea.. slippery slope right to marxism there.

 

[alarmguy]

and next you will be thinking that some sort of national health insurance might be a good idea.. slippery slope right to marxism there.

Yes I know but (well, look around) we could have a good conversation, truly but not allowed here.

 

[MSCH]

seriously, who would think that taking the profit motive out of human misery is a good thing?
Mother Teresa and St Jude be ****ed.. I'm in it for myself. LOL.

 

[BMWTurboDzl]

I can only assume at some point there will be a new agency in DC.
Federal Homeowners Insurance Agency much like the federal flood insurance.
I HATE big government but that cat is out of the bag, so why not create an agency that gives nothing away but is paid for by the people who need insurance.
It's clear the profit model for big insurance corporations isnt there so then maybe time for big government to offer a federal self sustaining insurance system. Clearly the system isnt working for people being squeezed.

Just todays thoughts as I drink my coffee and cant even believe I am typing this. But the flood insurance program works so why not a homeowners insurance program covering everything. Unless it can be proven that it will be no better rate wise. I would find that hard to believe.
Im only typing this, as against big government as I am but this insurance things isnt only Florida anymore. Since I live in a coastal area I see what is happening all over the east coast as well. Im only proposing a national not for profit program like the flood insurance that exists. Think that might even sound plausible compared to all the other things we are literally giving away for free, this cost the taxpayers nothing.

The problem is moral hazard but people consistently, via threat of force, demand to place their burden onto the shoulders of others.

 

[BMWTurboDzl]

and next you will be thinking that some sort of national health insurance might be a good idea.. slippery slope right to marxism there.

Kinda like Medicare/Medicaid? Oh wait.. *lol*

 

[MSCH]

Kinda like Medicare/Medicaid? Oh wait.. *lol*

don't forget the VA. the two largest Medical Insurance Programs in the USA. lets pretend they don't exist.
FWIW flood insurance is FEMA flood insurance.

 

[alarmguy]

Kinda like Medicare/Medicaid? Oh wait.. *lol*

Medicare is a system that works extremely well.

 

[alarmguy]

and next you will be thinking that some sort of national health insurance might be a good idea.. slippery slope right to marxism there.

We have that through the ACA before that someone with a medical condition could be denied insurance.
Unfortunately it went to far and mandated many things that people can’t opt out of but at least they can buy insurance

 

[BMWTurboDzl]

That’s a system that works extremely well.

Depends on how we want to define "works".

The amount of fraud is estimated to be around $100B/yr and at the moment demand has not outstripped capacity*.

*Singlepayer systems contain costs by restricting capacity whereas in a private system costs are restricted via insurance.

 

[alarmguy]

Depends on how we want to define "works".

The amount of fraud is estimated to be around $100B/yr and at the moment demand has not outstripped capacity*.

*Singlepayer systems contain costs by restricting capacity whereas in a private system costs are restricted via insurance.

But that might be cheap compared to hundreds of companies administering all different plans, then, throw in the fact that fraud occurs in all those plans as well.

I pay $163 a month and get benefits that nobody else in the private sector gets
And all this so many protections and electronic infrastructure, the whole system is very fluid
Absolutely love it, zero to no charge to see doctors, specialists, dentist, vision, hearing, gymnasium, hospitals and they pay me back for doing healthy activities!!!

I can switch health insurance companies every year if I choose to. Best plan for me and my needs wins. They literally bribe me for my business.

True it’s all part of the Social Security system alongside of private industry. It works, and it works well, but that was created many decades ago and important that we not let current elected officials mess with it.