Taxpayers May Face Hurricane Tab [Democrats want to nationalize insurance business]

Lets tel the truth for a change. I had State Farm and they raised me from $4000 to $6500 a year. I live 18 miles from the ocean. Allstate claimed bankruptcy after Andrew and left Florida canceled all polices after Andrew and now after the state passed a massive re-insurance program the biggies raised rates 60 to 150 Percent. Then the state came up with Citizens and my insurance is down to 2200 where it belongs.

Why do you libs come here with your tripe go back to MOVEON.org where you belong..........

A: ... I'm not a lib by any stretch

B: ... my 10K premium here in Key West (yes I can see the water out my windows)from Citizens is a joke. It is a policy which I will pay into but from which I will never be able to collect

Citizens formulation effectively put all private windstorm providers out of business (except for Lloyds) and has no competition and no flexibility.

I understand that ability to discern someone's politics is directly correlated to the ability to comprehending a post. Perhaps your proximity to open water rivals that of your knowledge of windstorm insurance in a free market

Just a note of caution before you again begin throwing pejorative ad hominem at a fellow FReeper

and you forgot to thank me for paying part of your state subsidized premium

I live in central Maryland. Why should more of my income be confiscated via taxes just to subsidize some much wealthier folks who have vacation homes in Ocean City that are at risk of hurricane damage? Why should more of my income be confiscated via taxes to shore up insurance companies losses on these properties that were not adequately insured in the first place and that I have no material stake in?

Because some politicians are trying to buy votes, that's why.

I agree with the concept ... but some lenders mandate this useless and rather expensive insurance

The state plans to mandate ever stricter building standards once they are the only game in town and you are effectively taxed by paying into this noncompetitive insurance pool

the federal flood insurance pay outs don't come in huge numbers from coastal regions

the figures show that the mid west flood plane is where the vast majority of the claims originate

when you can see the water out your window you tend to build to suit the terrain

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.