JC finds new way to scr*ew Florida taxpayers on homeowner's insurance

[WatchingTheHerd]

@flyerboys

Florida is the worst, but property insurance wherever there are oceans or significant drainage systems is about to surpass municipal, county, and state employee pensions as insanely dangerously underfunded nightmares.

Eeeeeeeyup. As analyzed here earlier in 2023…

Climate Change: Risky Business

This is a rather long commentary so it's important not to bury the lede... The point of the analysis provided below is this: Skyrocketing insurance costs are not solely a reflection of opportunistic insurance companies applying the screws to consumers. Typical corporate greed may not even be twenty percent of the root problem. Instead, skyrocketing insurance rates reflect a fundamental shift in the profile of risks facing property owners and insurers alike -- shifts in risk which classic in…

I’m not sure there is a more certain way to destroy your net worth then being an average income person living in Florida over the next 15-30 years. If you’re wealthy and housing costs are a fraction of your income and worth, no worries. If your mortgage is a third or more of your take home pay and you live in Florida, you are virtually assured of taking a huge loss on your residence due to some weather / climate calamity. A loss you may never recover from.

WTH