The Insurance Apocalypse Is Upon Us
The Insurance Apocalypse Is Upon Us
As climate change intensifies extreme weather and claims pile up, insurance companies are raising their rates and limiting their coverage. This leaves those who can least afford insurance unprotected as climate disasters grow more frequent and severe.
In my neighborhood a catastrophic flood went though and destroyed many neighbors homes. FEMA disaster relief was enacted. Anyone with homeowners insurance was not eligible and the homeowners insurance would not pay out any money because it was a FEMA disaster area. I heard this so many times from so many angry and helpless victims.
Fuck insurance companies. May they burn in hell.
Yep, in my area insurance is dropping fire coverage from homes in areas with high fire risk. It’s also kinda valid on the part of the insurance companies (there are areas ripe for disaster) so policies (like requiring them to provide coverage) aren’t enough—some people are going to need to move and it will be much more equitable if it is planned.
Yeah, the plan is to keep building in areas that are just on the precipice of some kind of climate disaster, 5 or 10 years out, then lock buyers in 30yr mortgages.
Keep moving to and building in Arizona and Texas and then do a Pikachu face when their power grids collapse from a massive sustained heat wave or blizzard or drought, and tens of thousands freeze or boil to death.
Unless you are envisioning some kind of massive New Deal, CCC levels of programs to overhaul our infrastructure and provide actually affordable housing in climatologically safe areas,... something like that as 'the plan'... then uh yeah, best we are gonna get is:
Pay even more for housing in actually safe areas, or still overpay for uninsurable homes.
All the houses are getting sold to Aquaman now, thanks Ben.
Florida is in a downward spiral. It's going to be a real shit show. Before you know it the state will be the only entity willing to insure property there.
That sounds like communism, Florida won't have any of that. The glorious free market will surely fix all things.