Rufus T. Firefly wrote:MurphOnMillerAve wrote:BH, I'm not sure I would have included Puerto Rico in that overall statement.
Yes, a little different set of circumstances there - Huston area has been known to flood for many years. That folks fail to get insurance is just gambling - should require them to get insurance if they want to live in specific areas, but then again folks don't like to be told that they are required to get insurance.
What am I missing. You live on an island in the hurricane prone Caribbean and you don't have homeowners insurance????????? If none available from the major carries, then I feel sure the government would have some type of special insurance (have to read the link posted above about FEMA insurance as to limits). I see no difference in those island people from the ones who live in the hurricane prone east coast of Texas or gulf states. People in those areas ought to be required to buy insurance, just like Obama Care makes everyone buy health insurance. Or, If you don't want to buy insurance (gamble), then no tax payer government funded program should be available to bail your *ss out. Never thought about limits until glancing at the FEMA link, but if you want to pay the premiums, someone will most likely write the policy. Just like a cost of doing business in the business world, high premiums would be the cost of living in hurricane prone areas.
I live in Oklahoma and our homeowners policy no longer covers earthquake damage (because we are having more of them lately). So we have to go out and buy a separate policy that covers this type of damage with fairly high deductibles). But, if I don't buy it, I sure as h*ll don't expect you guys to pay for my decision.
No responsibility for actions in today's world.
BH