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The Cost of Insuring Expensive Waterfront Homes Is About to Skyrocket
The New York Times ^ | 24 Sept 2021 | Christopher Flavelle

Posted on 09/24/2021 11:19:53 AM PDT by Theoria

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To: Tell It Right
Poor Obama and his new beachfront home. LOL

Martha's Vineyard or Honolulu?

21 posted on 09/24/2021 11:39:14 AM PDT by Charles Martel (Progressives are the crab grass in the lawn of life.)
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To: Theoria

Next up: Jacking up insurance rates for anybody living within 200 feet of a tree. Can’t be too careful with forest fire hazards.


22 posted on 09/24/2021 11:39:26 AM PDT by ProtectOurFreedom ("If I’m going to get my political views from those who chase balls, I’ll ask my dog.")
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To: Theoria

What a great way to justify higher premiums. Global warming is the gift that keeps on giving.


23 posted on 09/24/2021 11:40:15 AM PDT by Jonny7797
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To: DoughtyOne

There are plenty of people living along inland rivers in this country who take advantage of the same federal subsidies. This is a topic each year on FR after the feds bail out hurricane stricken beachfront home owners again. It make sense if DC doesn’t blow savings somewhere else. Why cloak reducing federal programs in that climate change BS?


24 posted on 09/24/2021 11:44:30 AM PDT by hardspunned (former GOP globalist stooge)
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To: Theoria

The federal government should not be insuring anyone against risk for anything. End the federal flood insurance program nationwide today. If you choose to live in a flood zone, you bear the full loss if your house floods.

Likewise, as the COVID vaccines receive FDA approval as “safe”, the pharmaceutical companies producing the vaccines should lose their exemption from liability. Pfizer is claiming its vaccine is safe for children as young as 5. It should be willing to back its claim by accepting complete liability.


25 posted on 09/24/2021 11:53:08 AM PDT by Soul of the South (The past is gone and cannot be changed. Tomorrow can be a better day if we work on it.)
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Comment #26 Removed by Moderator

To: Theoria

The problem is the existence of federal flood insurance, which like government everything in the US is politicized top to bottom. Previously, it’s been underpriced so as not to anger voter beneficiaries. Now it will be politicized differently in the name of climate change.

End federal flood insurance and let everyone pay the rates private insurance companies set, which will be, as they should, based on expected risk. Is climate change a risk to coastal homes justifying higher premiums? Let insurance companies and their customers work it out.


27 posted on 09/24/2021 11:58:35 AM PDT by untenured
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To: Theoria

This is all about making sure only the Rich can afford waterfront property. So any poor “riff-raff” will be forced to sell theirs.

Nothing to see here, move on.


28 posted on 09/24/2021 11:59:24 AM PDT by rbg81 (Truth is stranger than fiction)
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To: DoughtyOne
Funny how Florida just happens to be the target here

Doesn't Biden have a beach house in Delaware?

29 posted on 09/24/2021 11:59:55 AM PDT by 1Old Pro (Let's make crime illegal again!)
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To: hardspunned

The Feds made the entire town of Valmeyer IL move. All the residents.


30 posted on 09/24/2021 12:00:08 PM PDT by steve8714 (Evidently the Oxford comma is racist, sexist, or homophobic. You decide which.)
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To: Theoria
With all the natural disasters that have taken place over the last few years, my insurance rates have been steadily going up.....

We all have to pay for repairs to the homes destroyed by floods and hurricanes..........

31 posted on 09/24/2021 12:03:54 PM PDT by Hot Tabasco (Without potatoes, life has no meaning......)
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To: Theoria

“safer ground”

As soon as all the schmucks move inland, the ruling class will buy up all the shore property and the insurance will then be fully subsidized at the schmuck’s expense.


32 posted on 09/24/2021 12:05:16 PM PDT by fruser1
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To: Soul of the South

this is essentially a subsidy for insurance commpanies.


33 posted on 09/24/2021 12:06:21 PM PDT by Chickensoup ( Leftists totalitarian fascists are eradicating conservatives)
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To: Theoria

The problems are bigger w NY beach front property but they NYT is too busy attacking FL to care.


34 posted on 09/24/2021 12:06:48 PM PDT by Zathras
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To: Ge0ffrey

BINGO! We have a winner.


35 posted on 09/24/2021 12:07:46 PM PDT by dirtymac ( Now Is The Time For All Good Men To ComeTo The Aid Of Their Country! NOW)
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To: Ge0ffrey
In other words, only the wealthy can own waterfront property.


36 posted on 09/24/2021 12:10:02 PM PDT by SlipperySlope99
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To: Political Junkie Too

DeBlasio has already decreed that basement apartments could no longer be rented in NYC.


37 posted on 09/24/2021 12:10:54 PM PDT by pingman ("I ain't in no ways tarred.." of WINNING!)
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To: Ge0ffrey

“...only the wealthy can own waterfront property...”
-
Yes, the “wealthy” are “self-insured”.


38 posted on 09/24/2021 12:19:41 PM PDT by Repeal The 17th (Get out of the matrix and get a real life.)
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To: Theoria

Don’t build a mansion in the sand on the waterfront ( on a multi-millennia old floodplain or next to a river that floods every year, in a Ghetto that burns every other year, etc . . .) and expect me to pay when the wind bows it away.

Solution:

Put up a shack

when the wind blows it away, put up another one.
That’s how they do it in lots of places around the world.

Self insure would be cheaper if Gobbermint was out of the way with all the ridiculous building permits and codes.


39 posted on 09/24/2021 12:23:56 PM PDT by Macoozie (Handcuffs and Orange Jumpsuitss)
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To: Tell It Right

Many wealthy folks have oceanfront homes—and none are selling for pennies on the dollar—looks like they are not falling for the “climate change emergency” scam.


40 posted on 09/24/2021 12:26:14 PM PDT by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
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