Homeowners in risky areas need to start paying rates that reflect the actual risks. There are three ways forward, IMO:
1) Build homes in risky areas extremely inexpensively, making them easy to replace quickly and affordably.
2) Build homes in risky areas extremely expensively with a design built to survive the known risks (elevated in flood zones, flame retardant in fire zones, etc).
3) Continue the current system where people in low-risk areas subsidize the people in high-risk areas.
Replies to: "I'll say the same thing. Ditto for homes on barrier islands up the east coast."
- Insurance companies were the canary in the coal mine before the LA fires. [LINK]
- Curly1918 - 8:11am 1/13/25
(5) [View All]
- California screwed the pooch. [LINK] - PaND - 10:24am 1/13/25
- You can say the EXACT same thing in FL, but you won't! Insurance companies are bailing on peeps - Quest4twelve - 10:06am 1/13/25
- I'll say the same thing. Ditto for homes on barrier islands up the east coast. - Iggle - 10:36am 1/13/25
- Of course Newsome expected a bail out and Joey delivered. Can’t say he didn’t react the same way - TampaIrish - 8:35am 1/13/25
- like people who live in hurricane areas and flood plains, there should be - WestCoastIrishFan - 8:17am 1/13/25