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Hurricane-driven floods wreck cars too. You don't suck for living in Florida, but actuarily speaking, your most expensive assets are at significant risk.
by klyrs 3y ago
Hurricane-driven floods wreck cars too. You don't suck for living in Florida, but actuarily speaking, your most expensive assets are at significant risk.
- WarOnPrivacy 3y agoI get that and it's reasonable for that risk to be shared among people who are insured for repair/replacement. I don't think it's reasonable to put that risk burden on people who aren't opting into that coverage. Their vehicles don't carry that coverage, the insurance companies bear no risk. For people who don't get the benefit of coverage, why should they be penalized and have to pay for others that do?
- klyrs 3y agoI searched around a little and couldn't find anything about this. But from what you're saying, it sounds like your insurance company may have mispriced their risk and they're recouperating recent losses on your dime? Florida's politicians don't seem keen on regulations; I'm unsure how one should address the perceived unfairness in this situation.
- WarOnPrivacy 3y ago> I searched around a little and couldn't find anything about this. A few links on DDG. It didn't get a lot of coverage. https://duckduckgo.com/?hps=1&q=auto+insurance+rate+hikes+florida https://duckduckgo.com/?hps=1&q=auto+insurance+rate+hikes+fl... Bang that to Google to get a better list of stories. > But from what you're saying, it sounds like your insurance company may have mispriced their risk and they're recouperating recent losses on your dime? The insurers aren't saying. Some news stories list generic price factors (but not any sources). So those seem to be speculation. All that said, Florida has one type of recurring, definitive vehicle loss event. Hurricanes.