08-21-2020, 01:30 PM
(08-21-2020, 11:32 AM)fredtoast Wrote: I don't think anyone is saying it is okay to damage property just because it is covered by insurance. I am just pointing out that Portland will recover from this just like Miami recovered from Hurricane Andrew.
Maybe you are the one who does not understand how insurance works.
I didn't say YOU said it, but a lot of people are. And I understand perfectly how insurance works. To use your example, if there are a couple of bad hurricane seasons, or one big one, hurricane insurance goes up. When people were locked down because of Covid and couldn't drive anywhere, premiums for auto went down and people got rebates. My auto insurance is cheaper or more expensive depending on zip code and whether or not the vehicle is garaged. Insurance is a for profit business. When they have to make more payouts, premiums rise to offset that money. It's not rocket science Fred. If you don't think premiums for businesses in those areas are going to go up, you're living in a dream world.
