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Farmers Insurance pulls out of Florida, affecting 100,000 homeowners (www.yahoo.com)

submitted 1 year ago by wrath0110@midwest.social to c/usa@midwest.social

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[–] Buelldozer@lemmy.world 4 points 1 year ago

It doesn't reduce the risk, it merely shares the cost across more people. You also don't seem to be aware that the Federal Government is already subsidizing Flood Insurance in Florida through the NFIP which is administered by FEMA. The people living there are already benefiting from distributed cost via direct contributions from Federal Tax money.