08-21-2020, 02:21 PM
(08-21-2020, 02:06 PM)bfine32 Wrote: Actually rates in place like Miami are higher because of the risk. Are you suggesting people in Portland should just pay higher rates and go on with their businesses because folks are burning them down?
This.
Miami has been hit with 30 different hurricanes of varying degrees through the years. It's already built into their policies, much like living in a flood zone. Businessss have already budgeted accordingly.
Portland? Not so much.
Not to mention the fact that there is no end in sight. There's no clear time to start the rebuild.
And let's say everything cools down. What happens if Trump gets re-elected? What happens if there's another event that spurs national outrage? It may very well subside, only to quiclkly return. And it could get even worse.
And anybody who has dealt with insurance companies knows how all this goes. Not all these businesses are going to be compensated 100%. And the process won't be as simple as an auto claim.
Some won't have the right policy, or it will it cover so much. Some can't make multiple claims in a year. Some will be denied because some loophole because that's what insurance companies do. It will not be an easy process, nor as cut and dry as the idea of insurance leads many to believe.
These people, one way or another, are going to be hit hard financially.
