OT - Why live on coast when hurricanes come?

[cschweitzer]

Insurance companies leave because they are not making enough money off of us. You have to understand we live in a capitalist environment in America and that is their right. The biggest fraud is insurance itsself. Why would the give you money if they didn't think it would benefit them? When 80% of people are filing claims, of course it looks bad for them to pay, but looks worse for them not to pay. That is why they paid their dues and got the heck out of here. Once they realize they have lost so much in policy income, they'll be back. They got scared and got out. We, as Americans, can't force them to come back or the terrorists won(sorry, a little propaganda humor).

I lived through the hurricanes two years ago and my fence is still down from Charley. It was pretty bad here in Orlando where three hurricanes conjoined at one point about 30 minutes northwest of me. It was no joke, but insurance is. They covered nothing, not the leak in my roof, not the fence, not the back window that broke...nothing. Why have insurance if the deductible is so high you can't afford to fix it anyway? Instead of paying that money to insurance, put it in savings and hold it. When you have another issue, see what will be there first, Allstate or BofA. Your savings will go nowhere, you insurance will run away with their tail between their legs.

Besides, the government will help you in your time of need, moreso if you don't have insurance or insurance won't cover the issues.

 

[LauraCline]

Very well put cshweitzer except as long as you have a mortgage on the property the lender requires it to be insured. If it were up to me, the money would go into investments to cover my own losses. Also, it doesn't matter how it looks, they don't pay - all they care about is keeping every cent you've given them. By now you've heard about the investigation into State Farm where they buried engineering reports stating damage was caused by wind. That meant they would actually have to pay some claims so, they hired other engineers that said most of the damage was caused by water so they didn't have to pay. Homeowners were only given access to the reports stating water caused the damage.