Severe weather events strain U.S. insurance system

Homeowners living in areas at risk for natural disasters are seeing higher home insurance premiums -- for some, coverage has been dropped completely. CBS News senior national and environmental correspondent Ben Tracy reports.

#news #weather #homeinsurance

[Mando_Trucker]

So 100 years of these companies being in business your telling me they didnt save the money we paid them? 1-2 storms have these companies struggling?

[ronaldcole]

States would do well to make it mandatory for developers to have an insurance evaluation by a minimum of 3 companies before they can build a single structure in any place, protecting the potential consumer in the process. Florida of course, it would be the entire state. Insurance there will be as high as the mortage payment soon.

[kiddadd]

So you dont want to pay out legitimate claims, but don't hesitate to pay out to scammers?

[extraaccount]

People need to stop trying to live in areas that are inhospitable. Insurance isn't a human right and neither is living on the beach in Florida

[FirstClass-]

Sure it is… NOT! …😂 They can pay for all these claims by selling just one of their CEO’s mega yachts … just one … figuratively speaking of course!

[blehhleb]

So what you are saying is: even if you are lucky enough to own your own home in america, your house will likely be worthless in the future.

[sidali]

This is what happens when we refuse to address climate change

[artiemedley]

Maybe, instead of CEO's and shareholders getting rich when NO disasters happen...oh, wait, I'm about to go on a tangent...

[easypimpin]

Why on earth would anyone buy a house or land in Arizona or Nevada or any other desert? It’s literally hell on earth.

[TheAngeliaMusic]

Wow! That doesn’t seem planned at all.

[johncarter]

You mean "weather seeding"....

[TheBagOfHolding]

I think its because California doesn't let them charge enough for insurance.

[SputnikCrisis]

The American Midwest is one of the best positioned regions in the world in terms of long term climate risk and people keep moving away from it lmao. I can't wait to buy property there before the inevitable mid 21st century great climate migration

[pjw]

Insurance companies are not the victim

[tebelshaw]

Shop around. Farm Bureau raised my home insurance $5000, so I switched to USAA for a far lower rate with better coverage.

[Travis_LTE]

If we had a functional government, we could easily consolidate and regulate the insurance company's... instead of letting there rob the middle class

[dudleyhaines]

iPCC and NOAA both found no link between climate change and extreme weather. This is all on the insurance companies.

[TK.]

Good, time they had to put out some ill-gotten cash!
They can afford to pay, governments Borrow from them.

[Scarter]

That means it's time for the federal government to step in. Then move to M4A.

[Moonbatcrazy]

(( that is the words - High Risk Housing Area )). Just like low land areas and New Orleans . But they built homes there because “ they were Affordable “.
But Not Insurable !!! And when it all gets burned, flooded or just destroyed.
They some in the Government cry -
Global warming for the cause ! But local government is the one who signed off on allowing homes to be built in hazard area !!!!