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Insurance isn’t run “at cost” it’s run for profit. Insurers are leaving because there isn’t enough profit, and State insurance cuts out the profit part. It’s al
by MarkMarine 3y ago
Insurance isn’t run “at cost” it’s run for profit. Insurers are leaving because there isn’t enough profit, and State insurance cuts out the profit part. It’s also more trustworthy, there are many low cost insurers in Florida that just completely screwed their customers. A disaster hit and they just refuse to pay:
https://www.wfla.com/8-on-your-side/florida-insurers-close-nearly-200k-ian-claims-without-payment/ https://www.wfla.com/8-on-your-side/florida-insurers-close-n...
- WillPostForFood 3y agoYou might be correct, but that article doesn't support your claim. The article says 86% of claims were closed, of that 86%, 70% received payment, 30% were closed without payment. Maybe that 30% were screwed, maybe they weren't actually covered, maybe they were below their deductible. The article doesn't have an answer.
- DaiPlusPlus 3y agoExperience shows that of those closed-without-payment, some kind of get-out-clause will have been invoked by the insurer - but it’s all above-board and legal, but is it right?