And I guarantee. if their house burns down, they will get coverage on the local ânewsâ. The ânewsâ will report âthey have no insurance. a go-fund-me account has been set up to help themâ. I see that on the ânewsâ frequently around Motown.
SteveâŠhas insurance
Might work if a single house in the area has no coverage, but it wonât work if an entire subdivision has no, or low, coverage. And even if there are 100 homes without coverage after a fire, donation fatigue will set in way before all 100 are funded enough to cover the damage.
âI figured if I lose everything again, thatâs Godâs plan,â she said.
Well you canât argue with that.
Andy
Being sarcasticâŠagain.
That wonât keep them from trying. The media exposure/go fund me account thing will work until it doesnât. The people who shove their little kids in front of the TV camera and cry will be shocked, SHOCKED, when the money doesnât pour in, but, by then, it will be too late to do things differently.
Steve
If you live in an area where housing values are skyrocketing it worth noing that most of that is the value of your lot.
Insurance covers the building. So sq footage and average construction cost is what matters. Thats the number to watch when considering the value of insurance.
I live in forest area of Big Bear Lake Calif. I have state fire insurance which is roughly $2500 per year. The house is 3000 sq.ft⊠It is set on roughly 1/2 ac. having 8 trees backing the golf course. I have had the state insurance for over 4 years. The house itself is insured for $600,000. I have other insurance covering other items like getting hurt⊠I do have a small loan on the house. After thinking about it, the insurance is not that much, and paying off the loan is questionable.
$9000 per year indicates that they live in a tree farm! What size is the house? Having a $9000 insurance payment I think that they have more than a house to cover.
This story is a climate change thing. Sorry, but I donât see where the climate has changed that much. State laws yes, climate no.
I think people agree that drought contributes to forest fires. Severity at least. And maybe what is needed to control them.
You probably know better than I there are many contributing factors. Hard to sort them all out. Some due to management errors or neglect.
So be it then. Let us hope it happens again. Godâs will must be respected.
Usually true, but there are some circumstances where âthe lotâ disappears or is otherwise encumbered.
experts say: Louisiana is [losing coastline] at a dramatic rate. In the past century, the state has lost over 2,000 square miles of land; it could lose [2,000 more] in the next 50 years, scientists predict. As sea level rise has accelerated, so has the loss of land. Wetlands are â[drowning]â in many areas of the state â covered by sea level rise faster than they can grow.
Well, you agree with the Governor of Louisiana, who is (in this story) attempting to dismantle the agency charged with dealing with the severe erosion and levee problem caused by, the climate.
It never is much.
The North Atlantic froze over as the Vikings began to come here. The settlements all disappeared. The ocean temperature change was 1 degree C.
This is absolutely true. However, what is also true is that in places with skyrocketing prices, the cost of construction is also going up rapidly. Construction costs in many of those areas are well over $200/sq ft, and very often well over $300/sq ft. So if you have a house valued at $1M and 3500 sq ft, you will still have to insure 3500 sq ft x construction cost per sq ft in the area.
So how do you account for the land value? The difference is that when a builder builds 100 more of less identical houses (or maybe 4 models), it costs them a LOT less per sq ft overall. But when a single house gets destroyed by a tornado, it costs a lot more to build a one off replacement house per sq ft. If a 3500 house sells for $1M, the insured person may still have to insure $750-850k for rebuilding due to the high cost of rebuilding. But a builder, when building that subdivision, may only spend $500k to build it, with $500k land value.
Why do you say that? Insuring homes in many places is VERY expensive today. We have a modest home of 2250 sq ft, concrete block construction on a slab, impact resistant windows installed a few years, straps for the roof also installed ⊠and insurance is about $8500 this year.
Insurance prices are VERY local, you might live just a few tens of miles away from the house mentioned, but because you have lower risk than they do, your policy could be $2500 and theirs could be $9000.
Thatâs not what happened after the Santa Rosa Fire.
It is what happens around Detroit. Some woman sobbing for the TV camera about all her stuff is gone due to fire/flood, and the ânewsâ starts chirping about her go-fund-me account.
Steve
Watch out for stereotyping based on some news account featuring some woman on tv.
Ouch, $8500 per year, dam thatâs up there. I do own a few houses in the So. Cal. area and insurance is only a secondary cost. These homes are in tracks. Earthquakes are a factor but I do not cover for this. I live in a forest, it is a high-risk area, and the cost of fire insurance has increased but not to $8500. Maybe it is where the fire department is located, orâŠ? The charge of $2500± is for fire only and from the state. I have a secondary policy that covers other items which is around $800. Maybe I have a great insurance guy!
I have always been cheap for the rebuilding of my homes. When you look at it, the utilities are in, the foundation (slab) is there, the permits are easier to get, and driveways and much of the landscaping are there. You just have to clean the building area and then rebuild. If you let the insurance company do it it will be very expensive. You can do it for less and yes I have checked.
World climate change, yeah the earth can change the climate but not industrial output. When I was young the sky was red-yellow and my eyes would water all day, it was bad. Now, no matter what the news says, it is much much much better, you can see for miles and miles and this is a smog area. I wonder how many years it has taken off my life, Iâm in my 70s. The deltas are being eroded, the sandbars are being taken out to the seas, and, my god, the coast is being washed away. These are just opportunities for the rich to rebuild and the poor to move. Why are we so worried about climate change?
If I lived in a more risky zone, I could get coverage from the state for about half of what I am currently paying, but I am in a slightly less risky zone, about 2-3 miles away from the high risk zone.
If we just deny that climate change is real, weâll stop experiencing the negative economic impacts from it.
Itâs disheartening that the article describes going without insurance as a choice. As most families live paycheck-to-paycheck, a 20% increase in your home insurance is an impossible choice.
Very few people are denying it. Things have changed in that.
But people have to scramble economically. There is no choice in that.