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Political Thread: The Sequel

Something sort of politics related is we all better be wishcasting any major hurricane landfalls away if you have a home older than 2012 construction in SC. No idea about NC. Here State Farm is no longer writing any new policies for houses meeting that criteria short of having an engineer come out and stamp drawings to show it’s been retrofitted. I don’t know exactly where the line is for what they consider coastal but it’s at least 60 miles inland because folks way up in Dillon county SC are 60+ miles inland and have gotten non-renewal notices after filing a claim. Obviously insurance is a politically regulated market but they still have to at least break even. They aren’t the first insurer to do that and won’t be the last.

So much building at the coast has been allowed by councils and planners that we’re all going to be paying the price when the bad storm eventually comes.
 
ChrisAMB said:
Something sort of politics related is we all better be wishcasting any major hurricane landfalls away if you have a home older than 2012 construction in SC. No idea about NC. Here State Farm is no longer writing any new policies for houses meeting that criteria short of having an engineer come out and stamp drawings to show it’s been retrofitted. I don’t know exactly where the line is for what they consider coastal but it’s at least 60 miles inland because folks way up in Dillon county SC are 60+ miles inland and have gotten non-renewal notices after filing a claim. Obviously insurance is a politically regulated market but they still have to at least break even. They aren’t the first insurer to do that and won’t be the last.

So much building at the coast has been allowed by councils and planners that we’re all going to be paying the price when the bad storm eventually comes.
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Best part? Those wealthy beach homeowners get FEMA money to upgrade their homes further increasing value while the rest of the poor schmucks get bent . I’m not paying for anyone in Horry , Brunswick , or New Hanover who lives within 2 miles of the beach . Nada 0 dollars . I wish we stopped paying taxes for the rich
 
ChrisAMB said:
Something sort of politics related is we all better be wishcasting any major hurricane landfalls away if you have a home older than 2012 construction in SC. No idea about NC. Here State Farm is no longer writing any new policies for houses meeting that criteria short of having an engineer come out and stamp drawings to show it’s been retrofitted. I don’t know exactly where the line is for what they consider coastal but it’s at least 60 miles inland because folks way up in Dillon county SC are 60+ miles inland and have gotten non-renewal notices after filing a claim. Obviously insurance is a politically regulated market but they still have to at least break even. They aren’t the first insurer to do that and won’t be the last.

So much building at the coast has been allowed by councils and planners that we’re all going to be paying the price when the bad storm eventually comes.
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As someone that works an insurance many states need tort reform. When you go into a new state and you notice a lot of ambulence chaser attorney billboards, you know that their insurance is probably high.
 
Bham 99 said:
As someone that works an insurance many states need tort reform. When you go into a new state and you notice a lot of ambulence chaser attorney billboards, you know that their insurance is probably high.
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Georgia just had tort reform recently regarding insurance claims so I expect in the next couple years rates to get better . Georgia has some of the highest insurance premiums currently. Many times the cost of lawsuits is already factored into everybody's premiums because insurance companies are sued so much and so easily. Not saying that they don't deserve to be sued sometimes but not always.
 
Bham 99 said:
Georgia just had tort reform recently regarding insurance claims so I expect in the next couple years rates to get better . Georgia has some of the highest insurance premiums currently.
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Another way to lower premiums could be stop building homes in risky areas …. Kinda like health insurance, if everyone lost weight we would save a ton of money
 
Bham 99 said:
Too far too gone to not destroy the economy.
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It’s going to screw the rest of us over if we don’t, there’s going to be a tipping point eventually . We all shoulder the cost and only small number of us reap the benefit
 
LickWx said:
It’s going to screw the rest of us over if we don’t, there’s going to be a tipping point eventually . We all shoulder the cost and only small number of us reap the benefit
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It's no different then people that live in flood zones inland, is just the way it is.
 
Bham 99 said:
As someone that works an insurance many states need tort reform. When you go into a new state and you notice a lot of ambulence chaser attorney billboards, you know that their insurance is probably high.
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I’m tangentially related to the industry and it sounds like things will get better in a couple of years but a bad storm could throw that off. At least here it’s not like Florida where roofers run around promising a new roof courtesy of the insurance company.
 
Bham 99 said:
It's no different then people that live in flood zones inland, is just the way it is.
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I also think it’s in our best interest to move those people. Tax the developers who built those homes and move em. Some places flood way too much . There is a neighborhood in Raleigh that flooded by the neuse and was abandoned , recently a developer bought it and rebuilt it. It might flood again one day , who pays ? The idiot homeowners who couldn’t do their research , and us idiot taxpayers who get screwed
 
ChrisAMB said:
I’m tangentially related to the industry and it sounds like things will get better in a couple of years but a bad storm could throw that off. At least here it’s not like Florida where roofers run around promising a new roof courtesy of the insurance company.
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90% of Floridas economy is Publix and roofing
 
LickWx said:
Best part? Those wealthy beach homeowners get FEMA money to upgrade their homes further increasing value while the rest of the poor schmucks get bent . I’m not paying for anyone in Horry , Brunswick , or New Hanover who lives within 2 miles of the beach . Nada 0 dollars . I wish we stopped paying taxes for the rich
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You’re going to be hearing more about managed retreat in the next decade. I would expect more states to enact legislation that won’t let beachfront owners rebuild if the property is damaged beyond a certain amount.
 
ChrisAMB said:
You’re going to be hearing more about managed retreat in the next decade. I would expect more states to enact legislation that won’t let beachfront owners rebuild if the property is damaged beyond a certain amount.
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I love the beach but these beachfront mansions are just absurd…. We need little beach shaks instead that can be easily replaced after a storm . Build with nature not agains it unless you want to pay $$$&$$$$
 
LickWx said:
I also think it’s in our best interest to move those people. Tax the developers who built those homes and move em. Some places flood way too much . There is a neighborhood in Raleigh that flooded by the neuse and was abandoned , recently a developer bought it and rebuilt it. It might flood again one day , who pays ? The idiot homeowners who couldn’t do their research , and us idiot taxpayers who get screwed
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Do you know if that developer did anything to make it less flood prone?
 
LickWx said:
I also think it’s in our best interest to move those people. Tax the developers who built those homes and move em. Some places flood way too much . There is a neighborhood in Raleigh that flooded by the neuse and was abandoned , recently a developer bought it and rebuilt it. It might flood again one day , who pays ? The idiot homeowners who couldn’t do their research , and us idiot taxpayers who get screwed
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That isn’t feasible.
 
Bham 99 said:
Do you know if that developer did anything to make it less flood prone?
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It’s possible, but if it’s in a flood plain doesn’t taking it out of the flood plain just shift the balance of water somewhere else? Water has to flood somewhere
 
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