[Towertalk] Insurance companies-->Coverage

[Robert Shohet]

> Ahem...   Those of us who live in Florida do NOT have any choice of
> insurers.. I've tried to get rid of the carrier I have and am always
> told that "XYZ Ins co does not write insurance there,  contact so and so
> for the State administered homeowners Insurance Pool.    You take what
> is offered or do without.  lotsa luck.

I am not an expert on what coverages are offered where and this is certainly
not the proper place for this discussion, but all companies have the right
to decide where they wish to do business, and the insurance rules are set by
EACH STATE.

So, Florida sets it own rules for ANY Insurance company that wishes to do
business there, and the Insurance carriers can take it or leave it.  Period.

Why??  because Insurance
> companies are not allowed to lose money.

That's total nonsense.  Insurers certainly DO lose money and since the
Insurance rules and regs are different in each state, if your statement was
true, each state would have to fund the insurers losses.
No state can afford to do that, if they could, they would issue the
insurance themselves as it would cost them less.

My guess is that Florida has determined that "the pool" is necessary to
protect homeowners since NO insurer could absorb a $100 billion or more
dollar hit from Hurricane Damage.  But that is a guess.

 If perchance they have a run
> of bad luck,   they rape us.  Or drop everybody else who had no claim in
> years.
> and if they have a bad run on their investments,  Yup,  bend over...

I don't like premium increases either, especially when I don't have claims.
My guess is that you will feel a lot differently if you have a claim.

> Been there, been had.  No claims, no losses, just higher and higher
> premiums.

Sounds a lot like property taxes!  BTW, I don't see the ARRL reducing
premiums or giving back past premiums on it's antenna insurance coverage.
Nor should they.

Bob KQ2M