News

37 readers

1 users here now

Breaking news and current events worldwide.

founded 1 year ago

Farmers Insurance pulls out of Florida, affecting 100,000 policyholders | CNN Business (www.cnn.com)

submitted 1 year ago by [email protected] to c/[email protected]

31 comments fedilink hide all child comments

Farmers Insurance will stop offering its policies in Florida, which includes home, auto and umbrella, in a change that will affect 100,000 people.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 11 points 1 year ago (1 children)

i think it has little to do with hurricanes

sure, it increases the risk to a certain degree but companies can always just charge more to offset the costs of paying out premiums. the problem is that the state government has certain prohibitive laws in the insurance space meant to more or less subsidize homeowners insurance

it's not easy to be an insurance company in florida with the high rates of fraud and the state needing to approve all sorts of premium increases

ultimately what i foresee happening in the near future is likely an increase in the state-funded insurance programs. which to be honest, i'm totally OK with. i don't like insurance companies

although it is ironic if it does go down that route - collectivism in the state that "woke goes to die" as our dear governor delicately put it

[–] [email protected] 3 points 1 year ago* (last edited 1 year ago)

It'd be a great counter protest to fight the government doing that with all sorts of anti socialism signs.

We don't need no government insurance handouts, we're real men and woman and if a hurricane knocks our house down fuck the government, we just need to pull ourselves up by our bootstraps and we'll be okay!