Note to Californians from a Floridian.

[lpbk2713]

I have somewhat of a sense of the agony many of you have endured at the loss of everything you own, having been through several recent hurricanes and I extend my sympathies at your loss. I just want to prepare you by way of relating what happened to us and how our elected officials chose to grease their palms instead of doing the job of representing the people who elected them.


Stand by for your home insurance premiums to go sky high. And it's not that the insurance cos will need the money it's just that they will know the timing is good and they will milk the opportunity. When several hurricanes hit Florida in '04 and '05 the insurance cos cried the blues on how they couldn't pay all the claims as a result of storm damage. Said they would go broke. So they got their lobbyists busy and they found many sympathetic ears among Florida's elected officials and sure enough they were allowed to jack up their rates almost at will. Many policies were even canceled, allegedly because they were too risky being mostly near water. The real reason they were canceled was so that the policy holder would get coverage under a new policy at many times the original rate. Many of those homeowners who didn't have their policies canceled found that to renew the next time was at least double what they paid the year before. The main mantra for the politicos running for office in '06 was 'reduce insurance premiums'. Well, the elections came and went and they have forgotten all about what they said they were going to do. And now, the insurance cos are reporting alltime record profits. So be prepared, Californians, for your insurance carriers to be crying the blues and for your politicians ready to receive them with open wallets.


Link: http://www.forbes.com/feeds/ap/2007/10/16/ap4226569.html

[rzemanfl]

1. Hell, they'll raise premiums wherever there are trees, not just

California.

[SpiralHawk]

2. republicon profiteering off victims -- that's their stinking 'values'

republicon vultures

[lpbk2713]

3. Of course they will raise premiums every year

But to multiply the premium three or four times is just a bit extreme wouldn't you agree? Especially when the carrier is making record profits.

[rzemanfl]

4. What Florida should do is start its own insurance company

funded with half the assets of the State Employee's Retirement fund (which would be around 40 to 50 billion) and insure all houses up to $500,000 in value, charge a reasonable premium and pay a reasonable return to the retirement fund for the use of its assets. The insurance company employees should be state employees who earn no commissions.

[fishnfla]

5. also beware of shady contractors

and if your are looking for work, consider roofing, construction or heavy equipment sales