Posted on 09/12/2017 9:43:16 AM PDT by Jacquerie
Local curfews were in place throughout the state, much of the Florida Keys remained closed and millions of people continued to lack electricity as cleanup work expected to reach into the billions of dollars began Monday in the wake of deadly Hurricane Irma.
While businesses slowly reopen, the state is dealing with widespread flooding, from storm surges of 4 to 8 feet along both coasts to flash flooding in Northeast Florida.
Gov. Rick Scott, who flew over hard-hit areas Monday, said damage along the Southwest coast, where Irma made a second landfall Sunday, included roofs off homes, boats tossed, flooding and sand across roads. But overall, he said the conditions appeared “not as bad as we thought the storm surge would do.”
An initial estimate from Moody's Analytics on Monday projected property destruction from Irma between $64 billion and $92 billion.
More than 200,000 people remained Monday afternoon in 585 shelters opened throughout the state.
The Florida Highway Patrol has started escorting utility convoys into areas without power, and Scott said the state law enforcement officers will do the same when the Port Tampa and Port Canaveral reopen and fuel trucks begin to travel.
(Excerpt) Read more at sunshinestatenews.com ...
What passes for wind insurance is actually a state sponsored pool of funds. Once the money is gone, it is gone and no more payouts to policy holders.
That is how I understand Florida Wind. If am a wrong, I trust that someone more knowledgeable will correct my error.
Wow…this morning it was just $40 billion according to an insurance spokesman on Fox Business channel.
About the cost of 7 aircraft carriers. Damn.
Also, high number of uninsured. And a lot of the people and businesses that are insured are insured by smaller companies, companies that will likely be wiped out by covering these losses. FL’s insurance market was a disaster waiting to happen. And it just did.
really? you live in a place where they have hurricanes every single year... and you dont have to have flood insurance??? wow...thats just crazy...
i dont mean “you” personally...
I can’t speak for that person. But from what I’ve heard , flood insurance is very expensive in areas prone to flooding. Which could mean that many do without and hope and pray they never get flooded.
Someone correct me if I’m wrong.
Wow, thats just plain stupid!!! esp when hurricanes happen like clockwork every... single... year!!
It would be the same with any insurance company. They cannot pay out money they don’t have. If too many claims are made at once, they will pay out what they have and declare bankruptcy.
Doubling it helps pay off the shysters like politicians and union bosses.
There’s a reason that up to the 1930s less than a million people lived in Florida.
I’m wondering if banks are going to take a hit. If people’s areas are devastated, they don’t have insurance, and they owe a mortgage, logic is that many will default and move. The positive of that, if it’s done correctly, is houses in areas without adequate elevation and drainage won’t be rebuilt.
Here in earthquake country, almost NO ONE has quake insurance.
Expensive and doesn’t cover much at all.
Interesting that Congress does the equivalent of 20 cat 5 hurricanes worth of economic damage to the country every year in taxes.
A lot of people are going to get rich off these storms.
You are not wrong, but those who live in FEMA designated flood plains generally carry flood insurance.
Those in adjacent areas that are not in a flood plain, typically do not insure. BUT, in big storms the non-flood plain designated areas can flood. That is my family’s personal situation. We are in a non-flood plain “X” zone, yet carry flood insurance nonetheless.
A few years after hurricane Andrew, Florida adopted stringent state-wide building codes for FEMA designated flood zones, and other areas near a coastline.
You are right in that the owners of old slab on grade homes destroyed by flooding will have to meet the new code if they rebuild.
Our current home is on eight foot high pilings built to code in 1994.
We considered building on a lot in a nearby town, but balked when a 2,000 sq. ft. home priced out at $210/sq. ft.
Our existing place is just fine.
I’m glad to hear that you’re doing okay. FL seems to have done an amazing job. I was wondering if the Everglades had something to do with that. The storm came in there, and seems to have tamed down.
Wind? Not so, unless it changed since Andrew!
This cost projection does not include pork projects that will be added by politicians on both sides of the aisle.
Haha. So true.
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