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But in the case of home insurance, unlike health, people actually have a choice: build there or do it somewhere else. Artificially forcing blended home insuran
by ethbr1 2y ago
But in the case of home insurance, unlike health, people actually have a choice: build there or do it somewhere else.
Artificially forcing blended home insurance rates lessens the pricing signal that this particular area might be too risky to build in.
At the end of the day, it's developers and the city/county making money while offloading the risk to insurance companies and government mortgage buyers.
- WalterBright 2y agoThere have been endless lawsuits by homeowners alleging discrimination in their insurance rates. All this impairs granular risk assessment and insurance rates. A recent WSJ article was about lawsuits from homeowners who were quoted higher insurance rates because their roof was rotten and/or there were trees that could fall on their house. The same has happened with auto insurance rates (men and women have different accident rates, so used to have different rates), and, glaringly, medical insurance rates.
- amanaplanacanal 2y agoMost medical insurance isn't really insurance, it's more prepaid health care.
- gottorf 2y agoI've seen people asking why car insurance doesn't cover oil changes the same way dental insurance covers cleanings, so be careful what you wish for, I guess.
- deleted 2y ago[deleted]