Irma and Florida

[billt]

....Around here, you can't get a mortgage if you live in a flood plain if you don't buy flood coverage!

Before all of this Irma stuff started, I heard in Florida new homeowners cannot obtain a mortgage unless they can provide proof of homeowners insurance. This becomes a "Catch 22" of sorts. Because the insurance premiums are so high, it effects their ability to close a mortgage. Add in all of this, and it is only going to become worse.... Much worse. I'm guessing a lot of retired people who are covered and are going to be facing heavy losses, will simply take the money and run. I certainly wouldn't blame them.

[Timothy]

I get the allure of warm weather, beaches, golf, fishing, et al..

One year in FL was enough for me...  we're  pretty much catastrophe free in the north!  My homeowners is less than 300 bucks.

[MikeBjerum]

After Andrew in 92, my home owners policy in CT jumped about 25% in cost.  I inquired as to why from my agent and was told due to their high liability in Florida they'd incurred considerable losses and needed to recoup those losses.

I told them I didn't live in Florida!  Reduce my premiums or you're fired!  They went down somewhat but I fired them anyway...

After two big ones this month, we will all take a hit next year.  The reinsurance companies will up their rates.

[Rastus]

I wonder if there is a way to insure outside normal insurance?  Something like the faith based health care that is working so well.

[billt]

Well, it's the morning after. How are you guys doing? I hope everyone is OK. The Keys look to be devastated. With Big Pine Key and Cudjoe Key taking what appear to be direct, 140+ MPH hits. And most everything there is just a few feet above the water. It worries me there are no pictures or live reports coming in from there yet. Not a good sign.

[Sponsor]

[Timothy]

Those islands are canals and piled up coral a few feet above sea level.  The east shore of Cudjoe is mostly motor homes and campers!  Venture Park I think.  I suspect there ain't much left.

Spent a good deal of time there.

[billt]

Those islands are canals and piled up coral a few feet above sea level.  The east shore of Cudjoe is mostly motor homes and campers!  Venture Park I think.  I suspect there ain't much left.

If you look at the homes and estates for sale on Zillow in Cudjoe, Summerland, and Big Pine Key. There are some beautiful and unbelievably expensive properties there. I'm sure most have been destroyed, or severely damaged. I can't imagine some of the losses those people are going to take. There is no harbor, or breakwater protection from the open ocean. And with the damage done to the only road in and out. Who knows how long it will take them to get materials in to rebuild. It's not the easiest place to get to. Especially with so much damage and flooding up and down the state.

https://www.zillow.com/homes/for_sale/pmf,pf_pt/2-_beds/136000-_price/494-_mp/globalrelevanceex_sort/24.701847,-81.398993,24.629776,-81.552801_rect/12_zm/

[crusader rabbit]

This Rabbit escaped to North Carolina and Bunny and I are safe and sound.  Hazcat stayed and reports almost no damage other than clean-up.  My home has almost no damage except for branches and leaves in the yard.  Irma did blow the tarp off my motorcycle, but I can recover from that.

Thanks to all for your prayers. 

Crusader Rabbit

[billt]

Glad to hear you and your possessions made it through unscathed!

[Timothy]

Great to hear Mr. Rabbit!

Have a safe journey home.