Extreme Weather Is Sending Home Insurance Rates Through the Roof; Big Oil Should Pay
Posted by TryWhistlin@reddit | collapse | View on Reddit | 10 comments
wetbulbsarecoming@reddit
Universal insurance along with universal healthcare. There's no other choice.
CerddwrRhyddid@reddit
There clearly is, seems as the U.S has decided not to do that, and instead maintain the corporate structure of both, and will continue to do so.
NyriasNeo@reddit
There is no "should" in politics. There is only power, leverage and what you can get always with. "Drill baby drill" won. Big oil won.
XI_Vanquish_IX@reddit
They won until everyone loses. And the losing part has already begun. The oil tycoons just get to party until the end of the world while the rest of us kill one another apparently
CerddwrRhyddid@reddit
They'll win then too. No one is going to do anything to them, and they'll just sit back, relax, and watch the inevitable destruction with grins on their faces.
PrairieFire_withwind@reddit
I am awaiting the shareholders lawsuit against the insurance companies for them not tightening standards of buildings to withstand fire, flood, wind, hail.
An example. Family had hail damage on their roof. Extensive. All insurance would pay for was replacement with like instead of requiring upgraded materials.
In the 5 years after that replacement they had two more wind/hail claims that paid out just as much if not more than the first claim (have since sold and moved). The insurance could have saved money by requiring upgraded roof clips and either better shingles or metal. Examples like this abound.
The short term financial decisions of our system will kill us.
Jovan_Knight005@reddit
While the long term consequences are yet to be seen.
Even-Following-1612@reddit
Why would it be on the insurance company to upgrade? Insurance covers the value, nothing more. It’s on the homeowner to make and cover that decision. Also your last sentence is funny. Insurance companies are all about long term solvency, not short term
StatementBot@reddit
The following submission statement was provided by /u/TryWhistlin:
One in five California homeowners now lacks insurance, with rising costs cited as the main reason, as climate disasters make properties uninsurable and unsellable in some regions.
Please reply to OP's comment here: https://old.reddit.com/r/collapse/comments/1sqoxap/extreme_weather_is_sending_home_insurance_rates/oh965oi/
TryWhistlin@reddit (OP)
One in five California homeowners now lacks insurance, with rising costs cited as the main reason, as climate disasters make properties uninsurable and unsellable in some regions.