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Originally Posted by Rich Z
We already almost have that. It's called "Citizens Property Insurance Corporation." The dig is, if they go over budget, then they assess the real insurance companies who then pass through that charge to their regular customers. Gee, how wonderful is that? All I see is the bottom line on my premium notice.
Really folks, I don't have a problem with people building multi million dollar homes on sand dunes on a barrier island. I'm glad for them that they can do that. Just don't be sticking you hand into MY pocket when it gets knocked down by a hurricane to help you rebuild your folly. Which is exactly what is happening.
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Just proves the point that if government were a private enterprise, it'd be bankrupt.
Insurance companies spread thier risks over the country. I have no sympathy for them or thier losses. They chose to take the risk.
Scott, you're right on the other point. Either be willing to pay more individually for your beach house insurance or accept the fact that your multi gazillion dollar beach front view may be a sandbar after the next storm