No, I got what I am not pleased with.
dewd, you ain't seen nothing yet.
They (the ACA) haven't paid the first claim yet.
We went something very similar down here after Hurricane Andrew.
For decades the Insurance Industry asked the Insurance Commissioner (the 2nd most powerful political position in most States) for permission to start a 'Cat' (catastrophe) fund.
They were all dimocrap scum back then and told the Insurance Companies to piss off.
You see (boring) to start a Cat fund, you don't just charge everybody an extra $5 a Month on their Homeowners policy because that $5 would have to be reported as profit.
By the time you get done paying Income Tax State Income Tax, Stockholders, etc... You're left with about Twenty Cents out of the original $5.
So nobody did it. Not worth it.
The Industry needed special legislation from the Federal Government, who approved it on condition that the State approved it. They didn't. Because they were dimocrap scum back then.
Nothing happened for 25 years.
Then Andrew hit. Bankrupted State Farm Fire and Casualty and a half dozen other, smaller Companies. Put them under.
The State's Guaranty Fund kicked in and.... It was a mess.
Anyway, dozens and dozens of BIG Companies left the State and Homeowners Insurance just simply wasn't available. There was none to be had.
And guess what sports fans? Without Homeowners Insurance, you can't buy a home. Well, you can if you pay cash but who would be that stupid?
Banks won't lend you money on an unsecured loan for a House. Ain't gonna happen.
So you know what else happened? The Construction Industry (which is the biggest Industry in the Country..... By far) Shut Down.
No Insurance, no jobs, no -- Nothing.
In a panic the State invented the FRPCJUA (Florida Residential Property and Casualty Joint Underwriting Association) and it was a mess.
I mean a ******* disaster. Horrible. Incredibly bad. I could pend hours just telling you how bad it was.
My neighbor just had his House re-financed so for the first time since he bought the house (about ten years ago) he took a look at his Homeowners policy.
Through USAA (one of the best, maybe THE BEST Insurance Company, around) he was paying $4,600 a year on $150,000 of coverage.
I was in the business, I know what I'm doing and I'm paying $2,600 a year on $200,000 of coverage.
And I know what to NOT cover. Like the Lot, for instance. If the Lot is worth $75k, too many people insure that.
Why?
What can you do to a Lot that an Insurance policy might cover?
Oh wait, I just saw a bad guy running down the street with a 1/4 Acre Lot under his arm!!
Fire? Fire don't hurt dirt and landscaping isn't covered.
Anyway, I'm just saying....
You people ain't seen nothing yet.
Nothing
Sorry to bore you but Insurance is a boring topic