Question: Should there be a limit on insurability and government bailouts for this and other regions of the country that sustain huge amounts of damage on an *ongoing basis - year after year?
"An early estimate of insured damage from the storm the second to strike the state in three weeks was between $2bn and $10bn, according to Risk Management Solutions, which provides risk assessments for the insurance industry."
Damage bill rises as Frances batters Florida
Damage bill rises as Frances batters Florida
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Damage bill rises as Frances batters Florida
You and I end up paying for this. I think insurance should be available, but maybe there should be caps in areas that have x amount of events in x years?
Shoot, they do it with flood insurance!
We used to carry earthquake insurance and boy, was that ever expensive.
Shoot, they do it with flood insurance!
We used to carry earthquake insurance and boy, was that ever expensive.
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- capt_buzzard
- Posts: 5557
- Joined: Wed Aug 25, 2004 12:00 pm
Damage bill rises as Frances batters Florida
You Yanks have everything. Even on the cheep. I pay 300 euro house insurance. 200 Euro Tv. Internet 150e per 2 months. Heating/electric 150 per 2 months. Food Mall per week 100e.that includes the dog. House maintenance another 400e per year. And that does not include social outings ect. :-5 :-5 Schools & College fees this year alone 3,000 to 5,000 euro. :-5 :-
- Bill Sikes
- Posts: 5515
- Joined: Fri Aug 20, 2004 2:21 am
Damage bill rises as Frances batters Florida
Tombstone wrote: Question: Should there be a limit on insurability and government bailouts for this and other regions of the country that sustain huge amounts of damage on an *ongoing basis - year after year?
"An early estimate of insured damage from the storm the second to strike the state in three weeks was between $2bn and $10bn, according to Risk Management Solutions, which provides risk assessments for the insurance industry."
Isn't insurance for houses like insurance for cars? That is, the history of risk
of the individual/car dictates the premium, as does the risk of the house/location
and previous claims/risk assessment?
"An early estimate of insured damage from the storm the second to strike the state in three weeks was between $2bn and $10bn, according to Risk Management Solutions, which provides risk assessments for the insurance industry."
Isn't insurance for houses like insurance for cars? That is, the history of risk
of the individual/car dictates the premium, as does the risk of the house/location
and previous claims/risk assessment?
Damage bill rises as Frances batters Florida
I wouldn't say that! We should do some cost comparisions. Others in the forum should add to this. Here is the typical monthly outgo for a small family that lives in California near any of the major cities - read: They have good paying jobs:
Mortgage: $1500 - $4000 month
Property taxes: $200 - 500 month
One car payment: $385.00 (Who has one car?)
Home insurance: $110 month
Auto insurance: $100 - 400 month
Gas/Electricity: $90 - 400 month
Garbage/Water/Sewer: $85.00 every 2 months
capt_buzzard wrote: You Yanks have everything. Even on the cheep. I pay 300 euro house insurance. 200 Euro Tv. Internet 150e per 2 months. Heating/electric 150 per 2 months. Food Mall per week 100e.that includes the dog. House maintenance another 400e per year. And that does not include social outings ect. :-5 :-5 Schools & College fees this year alone 3,000 to 5,000 euro. :-5 :-
Mortgage: $1500 - $4000 month
Property taxes: $200 - 500 month
One car payment: $385.00 (Who has one car?)
Home insurance: $110 month
Auto insurance: $100 - 400 month
Gas/Electricity: $90 - 400 month
Garbage/Water/Sewer: $85.00 every 2 months
capt_buzzard wrote: You Yanks have everything. Even on the cheep. I pay 300 euro house insurance. 200 Euro Tv. Internet 150e per 2 months. Heating/electric 150 per 2 months. Food Mall per week 100e.that includes the dog. House maintenance another 400e per year. And that does not include social outings ect. :-5 :-5 Schools & College fees this year alone 3,000 to 5,000 euro. :-5 :-
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Damage bill rises as Frances batters Florida
I thought I would add this to the discussion:
California's Housing Affordability Index Falls Nine Points in June to Lowest Level Since November 1989
Median Prices By Region - Current Month vs. Year Ago
Jun-04 May-04 Jun-03
Statewide
Calif. (sf) $469,170 $463,690 r $374,540 r
Calif. (condo) $375,260 $366,560 r $288,490 r
C.A.R. REGION
Central Valley $279,100 $269,500 r $226,960 r
High Desert $225,260 $214,470 $153,840
Los Angeles $445,140 $434,790 $338,360 r
Monterey Region $621,920 $616,670 $495,830
Monterey County $575,000 $569,000 $421,000
Santa Cruz County $599,500 $639,000 $550,000
Northern California $347,980 $349,510 $285,950 r
Northern Wine Country $500,840 $488,210 $433,980
Orange County $657,930 $662,290 $479,410
Palm Springs/Lwr. Desert $346,700 $364,610 $257,140 r
Riverside/S. Bernardino $304,810 $292,060 $222,340
Sacramento $321,480 $306,870 r $251,910 r
San Diego $580,670 $565,030 $419,320
San Francisco Bay $655,990 $649,240 $572,870
San Luis Obispo $436,150 $422,660 $377,540
Santa Barbara County $572,370 $684,780 $389,530
S. Barbara South Coast $1,095,000 $1,100,000 r $822,500
N. Santa Barbara County $386,440 $378,890 $293,530
Santa Clara $642,000 $635,000 $565,000
Ventura $625,000 $614,850 $455,420
na -- not available
r -- revised
Source: California Association of REALTORS(R)
California's Housing Affordability Index Falls Nine Points in June to Lowest Level Since November 1989
Median Prices By Region - Current Month vs. Year Ago
Jun-04 May-04 Jun-03
Statewide
Calif. (sf) $469,170 $463,690 r $374,540 r
Calif. (condo) $375,260 $366,560 r $288,490 r
C.A.R. REGION
Central Valley $279,100 $269,500 r $226,960 r
High Desert $225,260 $214,470 $153,840
Los Angeles $445,140 $434,790 $338,360 r
Monterey Region $621,920 $616,670 $495,830
Monterey County $575,000 $569,000 $421,000
Santa Cruz County $599,500 $639,000 $550,000
Northern California $347,980 $349,510 $285,950 r
Northern Wine Country $500,840 $488,210 $433,980
Orange County $657,930 $662,290 $479,410
Palm Springs/Lwr. Desert $346,700 $364,610 $257,140 r
Riverside/S. Bernardino $304,810 $292,060 $222,340
Sacramento $321,480 $306,870 r $251,910 r
San Diego $580,670 $565,030 $419,320
San Francisco Bay $655,990 $649,240 $572,870
San Luis Obispo $436,150 $422,660 $377,540
Santa Barbara County $572,370 $684,780 $389,530
S. Barbara South Coast $1,095,000 $1,100,000 r $822,500
N. Santa Barbara County $386,440 $378,890 $293,530
Santa Clara $642,000 $635,000 $565,000
Ventura $625,000 $614,850 $455,420
na -- not available
r -- revised
Source: California Association of REALTORS(R)
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