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windchymes -> RE: State Farm Insurance Cancels Thousands of Florida Policies (2/10/2010 4:55:47 PM)
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Yes, but I wasn't talking about "affordable" homes (affordable to whom? they sure as hell weren't affordable to ME), nor have I ever watched Lifestyles of the Rich & Famous.
I lived at the Jersey shore for 11 years and I'm well aware of the caliber of homes in various towns up and down the shore, and I also know there are ones down in the hurricane belt that are way beyond that magnitude. I will reiterate that IF they CAN afford one of the homes of that magnitude with all of it's amenities and bells & whistles, then, rather than whine and moan about the insurance companies not taking care of them, why not be responsible enough to invest some of that bell & whistle money into a self-insured type of escrow account so that they are not left high and dry when the insurance companies suddenly bail on them.
If you just do the math, even if people pay millions of dollars into an insurance company for premiums, and then the hurricanes blow through and cause BILLIONS (with a B) of dollars worth of damage, whose ass are they going to pull that money out of?
Your situation is totally different than then one I commented on, and my comment was not intended to be a blanket statement.
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