The price of political riots organized from on high.
They will just raise our rates /s
I thought most insurance didn’t pay out I case of civil unrest.
Democrat-sponsored riots are costing insurance companies over two billion dollars! Anything the Democrats are involved with ends up costing the people associated with it a ton of money!
Of course the expense will be passed along to policy holders... ALL policy holders
Thus the cost of coverage for riot damage will go through the roof and will prevent even more businesses from operating in the inner cities. This is how you make a Detroit.
Truth is that it won’t cost them anything.
The Adjuster Tables will alter for anyplace that is “WOKE” and defunds the police. The rates in Law abiding and solid districts with good police and good law and order policy will stay low. But in Minneapolis, Portland etc, they will skyrocket as a cost of doing business. Rates are based on risk. Risk is high in liberal land, risk is low in conservative land. Prices will reflect that, tack on taxes and you will have Detroit soon enough. Liberals ruin everything.
Similar to insurance companies refusing to provide flood insurance to homes in a flood plain, they will start to refuse civil unrest insurance to businesses in low-income neighborhoods.
Correction. “ may cost individuals up to $2B.” You know, the people who actually go out to work, who pay taxes, who didn’t riot, who didn’t burn buildings down, who didn’t assault and kill people.
If there’s a dem in the White House, all the taxpayers will be forced to pay the costs, since the fool dem will be sending federal money to the democrat cities that promoted the riots.
The low-IQ idiot leaders of BLM don’t grasp the fact that the rise in insurance will ultimately result in higher prices and losses for jobs for all Americans, especially blacks living in urban area.
For those of us that live in the path of named storms, our deductible increases substantially when our properties are damaged by said named storm—on the order of $2000 for a non-named storm incident such as a tornado to $6000 for a named hurricane. Forget that we sometimes have thunderstorms pass through with 50 to 60 MPH winds causing damage. If those same type winds associated with a named storm come through the higher deductible is applied.
Do the deductibles for property damage caused by riots increase in a similar fashion. I also thought that insurance companies did not cover damage caused by civil unrest.
My career involved me in sales and purchase contracts on an almost daily basis. Every contract that I executed included a force majeure clause that covered failure to perform because of riots, civil unrest, war, floods, earth quakes, anything not reasonably withing the control of the buyer or seller, etc.
The cost of these losses will be recovered by the insurance companies with rate increases that will be shared by all their customers with like policies as those affected by the riots. It is called share the pain even though the loss was in a Democrat controlled city and you live in a sane Republican run city that had no riots, burning and looting.
Give the bill to the DNC they own the cause.
The police did not kill George Floyd. George Floyd, a violent career criminal, died of a fentanyl overdose.
...the police killing of George Floyd
***************************************
I’m fed up seeing that lie constantly repeated in the papers and by people on TV. Just this afternoon, Bill Hemmer on Fox News mentioned the “murder” of Floyd, not the death.
Do these reporters, editors, TV hosts, etc., never do research? The ME’s report said there were zero injuries caused by the police, and that Floyd died from meth and fentanyl (4 times a lethal dose).
B$ it won't cost the Insurance companies one red cent. They have no money whatsoever except what the rate payers contribute.
Maybe a class action suit of business owners around the country suing the companies that donated funds to BLM.
If they can fund them on the front end, they can pay for their damages.
“Well, they have insurance.”