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

submitted 1 year ago by Girlparts@kbin.social to c/news@kbin.social

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

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[–] Hairyblue@kbin.social 3 points 1 year ago* (last edited 1 year ago) (2 children)

They should start a national home insurance and compete with the private companies.

It is only going to get worse with climate change. We need public healthcare too. Companies are only interested in money/profits. That is what they do.

[–] comedy@kbin.social 8 points 1 year ago (1 children)

Florida already has a public insurance company called "Citizen's," which IIRC is legally required to always be the most expensive option available. It's probably going to go bust when the next big hurricane hits, though

[–] Hairyblue@kbin.social 5 points 1 year ago

We can have National insurance. And it may be the only option for us if the private insurance companies won't even offer it to home owners.

Not state, national

[–] PabloDiscobar@kbin.social 4 points 1 year ago (1 children)

They should start a national home insurance and compete with the private companies.

This won't work. Take any US state that is not too much affected, and tell them that now they have to pay a premium to insure the people of Florida. They will never do it.

I'm serious when I say that global warming and the lack of resources will break both the USA and China, and probably the EU too. The regions of those countries will be unwilling to pay for the others. Sweden won't pay forever for Spain, same in the respective regions of the USA and China. Do you really see these agglomerate of people supporting each others? I don't. The lack of food will have devastating effect on geopolitics.

We are leaving a period of prosperity and it's gonna shake a lot.

[–] andyburke@kbin.social 6 points 1 year ago

Florida is and has been footgunning with Republican leadership for a few decades now.

I don't mean to dismiss all your concerns, but there is a lot Florida could have done if they had been taking climate change seriously. They and their representatives chose not to act, calling it all a hoax.

I am not sure we should be using Florida as the example of how it will be everywhere.