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Thousands Of People In Florida Have Lost All Due To Florida's Flood Insurance Laws
invite response
2022 Sep 30, 3:48am 15,225 views 95 comments
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87
DD214
2022 Dec 20, 5:22am
AmericanKulak says
The only way California will ever escape the debt burden of CalPERS and CalSTRS is though default. There is no other way out, the debt increases faster than the payments.
California has a massive underfunded pension problem in spite of sky high taxes.
The only way California will ever escape the debt burden of CalPERS and CalSTRS is though default. There is no other way out, the debt increases faster than the payments.
88
DD214
2022 Dec 20, 5:26am
Who needs homeowners insurance in Florida? Here’s what you should know. - Miami Herald
The state has no regulations mandating homeowners to carry insurance for fire, theft, hurricanes or floods. Mortgage lenders do require homeowners’ insurance, including windstorm coverage and, for homes located in designated flood zones, separate policies to cover damage from inundation.
How many Floridians are going without property coverage?
Florida regulators don’t track how many homeowners are choosing to forgo insurance. It’s a decided minority — but more go bare in Florida than across the rest of the country. The Insurance Information Institute estimated that 13% of all homeowners in the state don’t carry property insurance, nearly double the national average of 7%.
I own a condo. Can I do away with my insurance?
Absent a mortgage, there is no requirement for an insurance policy covering the interior or contents of a condo unit, which is the owner’s responsibility. However, the condo association will usually have a master insurance policy to cover common areas, and that cost is passed on to individual unit owners, Carter said.
How can I figure out if I can afford to go ‘bare’?
Those willing to risk going without home insurance should consider the amount they need saved up in case of an emergency, the experts say. That includes not just enough to repair or rebuild, but the cost of temporary living expenses if a home becomes uninhabitable. The typical financial advice is to have three to six months worth of living expenses saved up.
Hartwig recommended saving about $725,000 to cover living expenses, fees to clear out debris, and reconstruction. That figure is for rebuilding a single-family home at the current median sale price in the state, which the Florida Realtors trade association puts at $407,000
https://www.msn.com/en-us/money/realestate/who-needs-homeowners-insurance-in-florida-here-e2-80-99s-what-you-should-know/ar-AA15soRC
The state has no regulations mandating homeowners to carry insurance for fire, theft, hurricanes or floods. Mortgage lenders do require homeowners’ insurance, including windstorm coverage and, for homes located in designated flood zones, separate policies to cover damage from inundation.
How many Floridians are going without property coverage?
Florida regulators don’t track how many homeowners are choosing to forgo insurance. It’s a decided minority — but more go bare in Florida than across the rest of the country. The Insurance Information Institute estimated that 13% of all homeowners in the state don’t carry property insurance, nearly double the national average of 7%.
I own a condo. Can I do away with my insurance?
Absent a mortgage, there is no requirement for an insurance policy covering the interior or contents of a condo unit, which is the owner’s responsibility. However, the condo association will usually have a master insurance policy to cover common areas, and that cost is passed on to individual unit owners, Carter said.
How can I figure out if I can afford to go ‘bare’?
Those willing to risk going without home insurance should consider the amount they need saved up in case of an emergency, the experts say. That includes not just enough to repair or rebuild, but the cost of temporary living expenses if a home becomes uninhabitable. The typical financial advice is to have three to six months worth of living expenses saved up.
Hartwig recommended saving about $725,000 to cover living expenses, fees to clear out debris, and reconstruction. That figure is for rebuilding a single-family home at the current median sale price in the state, which the Florida Realtors trade association puts at $407,000
https://www.msn.com/en-us/money/realestate/who-needs-homeowners-insurance-in-florida-here-e2-80-99s-what-you-should-know/ar-AA15soRC
89
B.A.C.A.H.
2022 Dec 20, 8:05am
B.A.C.A.H.
2022 Dec 20, 8:05am
ad says
We Californians agree with your assessment about the Grifting going on in Sacramento.
Why do we remain?
Probably different reasons for each of us. Some of us have deep roots here. For the time being, living near family means more to us than the tax rate. Others, like Patrick, don't have family here, but have other reasons, their own reasons, for remaining. We can always leave if the tradeoffs become unbearable.
We can always find things to point out about how it's worse somewhere else than where we choose to live. But we don't need to use pejoratives and swear words for that.
We don't define ourselves by who we hate.
liberal shithole California
We Californians agree with your assessment about the Grifting going on in Sacramento.
Why do we remain?
Probably different reasons for each of us. Some of us have deep roots here. For the time being, living near family means more to us than the tax rate. Others, like Patrick, don't have family here, but have other reasons, their own reasons, for remaining. We can always leave if the tradeoffs become unbearable.
We can always find things to point out about how it's worse somewhere else than where we choose to live. But we don't need to use pejoratives and swear words for that.
We don't define ourselves by who we hate.
90
RWSGFY
2022 Dec 20, 9:33am
RWSGFY
2022 Dec 20, 9:33am
AmericanKulak says
In other news Texas and Florida now have their own heavy traffic and exploding housing costs.
California has a massive underfunded pension problem in spite of sky high taxes.
The plan is to leverage their Representation in the House to get every other state to eat their ludicrously generous State pension deficit.
And massive traffic, overdue for a big Earthquake, housing costs that put home ownership completely out of reach for most and certainly for the working class, ridiculous sprawl and a hatred of density which only increases heavy traffic, Third World shit and drugs in the open, etc. etc. That the middle class flees California and the influx is mostly the wealthy and the very poor/addicted/lumpenproles and has been for years is the most damning indictment.
If Republicans wanted to win, they'd be saying "Do you want Texas and Florida America or Philadelphia, Chicago, and California America?"
In other news Texas and Florida now have their own heavy traffic and exploding housing costs.
92
AmericanKulak
2022 Dec 23, 9:49am
AmericanKulak
2022 Dec 23, 9:49am
RWSGFY says
Florida has a ~$22B dollar state budget surplus. That's after taking all the tolls off for several weeks during the Hurricane season.
In other news Texas and Florida now have their own heavy traffic and exploding housing costs.
Florida has a ~$22B dollar state budget surplus. That's after taking all the tolls off for several weeks during the Hurricane season.
93
Bd6r
2022 Dec 23, 7:38pm
Bd6r
2022 Dec 23, 7:38pm
RWSGFY says
...because californians destroyed their state and now are running to tx and fl
other news Texas and Florida now have their own heavy traffic and exploding housing costs.
...because californians destroyed their state and now are running to tx and fl
94
Booger
2022 Dec 23, 7:48pm
Booger
2022 Dec 23, 7:48pm
AmericanKulak says
Then why don't they drop the tolls completely?
Florida has a ~$22B dollar state budget surplus. That's after taking all the tolls off for several weeks during the Hurricane season.
Then why don't they drop the tolls completely?
95
Bd6r
2022 Dec 23, 7:50pm
Bd6r
2022 Dec 23, 7:50pm
zzyzzx says
GOOD. Oceanfront rich fucks should pay full price for insurance, instead of pawning it off to rednecks in middle of state
GOOD. Oceanfront rich fucks should pay full price for insurance, instead of pawning it off to rednecks in middle of state
« First « Previous Comments 87 - 95 of 95 Search these comments
Not readily apparent is an aspect of the law in Florida concerning flood insurance. If your house or apartment has a roof over 10 years of age, you cannot get flood insurance. I spent hours watching many people in the area of destruction being interviewed. Most had lost everything, and their normal homeowner's insurance will not pay for the losses. They could not get flood insurance. Many are old and have lost all. Imagine yourself in a situation like that.