BankShot
The Kleuh Level
Ian downgraded to a post-tropical cyclone
Ian strengthened into a hurricane again as it moves South Carolina.
www.floridatoday.com
Charts indicate he'll be in thick of madness...
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Just awful destruction there....it may take 2 - 3 years for some of that to recover....if ever. Insurance companies who provide homeowner's insurance have been moving out of the Florida market since 2004, and this may be the final blow for them.
- Need to organize a flotilla from your Madeira Boat Club and head down w/ supplies...maybe bring a few shells back for your beachfront decor.
There are damn few A.M. Best rated P&C insurers remaining in FL. Gonna be some “out take” insurers go belly up .Gonna be a # of retirees in those mobile home parks caught in "no man's land" being underinsured...
The housing crisis in America just got worse...
- Flood insurance: Homeowners policies typically do not cover damage caused by flooding. You may be able to purchase a flood policy from your home insurance company as an endorsement to your home policy, from the federally-backed National Flood Insurance Program (NFIP) or dozens of private flood insurers who offer this important coverage in the state. Florida has more NFIP policies in force than any other state because of its high vulnerability to flooding.
- Windstorm coverage: Since Florida is frequently impacted by hurricanes, windstorm coverage may be an important part of your insurance portfolio. While this comes standard with some policies, some providers may require that you purchase an endorsement or a separate policy based on the risk level in your area. According to the Insurance Information Institute (Triple-I), Florida home policies include a separate windstorm deductible for named tropical cyclones, which is typically 1% to 5% of your home’s insured value.