Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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SeattleRain@lemmy.world

Florida's biggest insurer cuts over 600K policies after Hurricane Helene (www.newsweek.com)

submitted 1 month ago by SeattleRain@lemmy.world to c/housing_bubble_2@lemmy.world

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[–] JillSteinsPuckeredAnus@lemmy.world 14 points 1 month ago (1 children)

And guess what... the handover to private insurers means your rates are going up even more!

[–] TropicalDingdong@lemmy.world 7 points 1 month ago* (last edited 1 month ago)

It.. it was a private insurer?

The hand off would be to the FAIR plan. Which is a state run/ subsidized insurance company.

Now keep in mind that the FAIR plan is subsidized by the admitted market. IF there are fewer plans in the admitted market, the FAIR plan is less fully backed. At a certain point the whole thing goes ass-over-tea-kettle if too many people end up on the FAIR plan.