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No one can truly afford to live there, if you price in the cost of insurance. The only reason people live there is because they haven't hit the 1/100 chance yet
by sadeshmukh 2y ago
No one can truly afford to live there, if you price in the cost of insurance. The only reason people live there is because they haven't hit the 1/100 chance yet.
- oefrha 2y agoThere are plenty of very rich people living there who can afford the house burning down every single year. So false.
- sadeshmukh 2y agoAfford doesn't mean you can technically throw money out the window. At some point, you are going to give up if the risk is high enough to have >2 events in your lifetime - time is also a cost to factor in, as well as loss of possessions. It's not quite that simple.
- therealdrag0 2y agoIf you’ve actually done the calculations with real numbers share the math. Otherwise stop assuming the conclusion.
- sadeshmukh 2y agoThe calculation was done by the insurers who refuse to insure the area, or must subsidize all insurance with nearby policies.
- therealdrag0 2y agoSurely there are rates at which they’d would insure the area? And you have shared no data on who is or is not willing to pay those rates.