How Hurricane Milton could change the insurance market

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  • Опубліковано 8 гру 2024

КОМЕНТАРІ • 22

  • @shadowgrandmaster
    @shadowgrandmaster Місяць тому +3

    After Milton, is it time to move from Florida to another state? If so, what state is highly recommended: New York? California? Texas?

  • @sociolocomtsac
    @sociolocomtsac 2 місяці тому +2

    No climate change, they said.

  • @D8099.
    @D8099. 2 місяці тому +6

    Time to move to Texas. This is unsustainable. There’s no business model that can handle this. It’ll only get worse.

    • @vkobevk
      @vkobevk 2 місяці тому

      did texas=hurricane+f5 tornadoes ?

    • @h.m.stanley
      @h.m.stanley 2 місяці тому +2

      how is Texas better? heat, highest property taxes in the country, flood risk and you're on the gulf for 1/3 of the state.. move to central Montana if you want safe. Here in California, earthquakes are not covered and flood insurance is only through FEMA. I have friends who are paying 100% premium increases year over year for fire insurance (which will soon not be available in California, or if it is, it will be through the state like earthquake insurance (which is really shitty and your deductible is 100k). I think you will see wholesale fleeing of certain geographies here in the US due to changing climate and risk. Maybe when the bank accelerates your mortgage because you can't find insurance or insurance that covers your note/risk. It's gonna happen and it's gonna be bad.

    • @michaeln9379
      @michaeln9379 Місяць тому

      @@h.m.stanley - most people don't get earthquake insurance. We are rolling the dice with high deductibles.

  • @valerieprice1745
    @valerieprice1745 Місяць тому +1

    The devastation is amazing. It's not just the coastline either. Will insurers continue to cover developers' foolishness for literally multimillion dollar, teeny little homes that get destroyed every hurricane season?

    • @michaeln9379
      @michaeln9379 Місяць тому

      No, they won't and they shouldn't. Only 58% of people in FL believe humans cause climate change. We may know 100% but if people in FL aren't changing their habits, then the rest of us shouldn't help them rebuild. Not sure how people will rebuild if they can't find insurance because you can't get a mortgage without insurance.

  • @gracetou8963
    @gracetou8963 Місяць тому +1

    Be insured , they screw you . Also totally weather weapons .

  • @deepakgeorge5871
    @deepakgeorge5871 Місяць тому +1

    If US can fund NATO when other nations apparently does not care to provide necessary GDP commitments why not this nation is not considering their own voters and citizens against similar natural disasters instead of jacking up insurance prices and discourage.. Government should work for the people and not defending Europe and west against Russian and Chinese aggressions.. Choose your leaders wisely..

    • @michaeln9379
      @michaeln9379 Місяць тому +1

      If FL is going to be hit with big hurricanes every year, then property owners should be paying more. Why should the US govt help out FL home owners? Why can't FL figure this out themselves? FL is one of the richest states in the US. If FL needs more revenue to help out home owners, then it can start an income tax or float state bonds.

    • @lalagardenia6500
      @lalagardenia6500 Місяць тому

      Amen.

  • @norduferhandel4512
    @norduferhandel4512 Місяць тому

    At rate its going the only homeowners in Florida will be the self insured.
    If most of the insurance companies leave Florida the question is how long the state run insurance company will be able to insure Florida homeowners.

    • @michaeln9379
      @michaeln9379 Місяць тому

      Between 15-20% of Florida homes have no insurance. Oh well. Since 40% of homes have no insurance, I expect disasters to cause more damage which won't be fixed.

  • @jusTOOfresh
    @jusTOOfresh 2 місяці тому

    Thanks

  • @chessdad182
    @chessdad182 2 місяці тому +1

    Spread the losses globally.... oh oh...

    • @michaeln9379
      @michaeln9379 Місяць тому

      Why? FL chooses to have lower regulations (they brag about it). FL is a very rich state. If they need more money, they can start an income tax and/or float massive bonds.

  • @elezabeththomas5250
    @elezabeththomas5250 2 місяці тому

    Come on....We All know which way it will go!