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☆ Yσɠƚԋσʂ ☆ @lemmy.ml

9mo ago

Hurricane Helene could cost $200 billion. Nobody knows where the money will come from. Almost none of the storm's devastation will be paid out by insurance.

grist.org Hurricane Helene could cost $200 billion. Nobody knows where the money will come from.

The estimated costs of Hurricane Helene have more than doubled since it made landfall. Almost none are covered by insurance.

Hurricane Helene could cost $200 billion. Nobody knows where the money will come from.

7 comments

All our systems put in place had failed us, if this isn't paid for by insurance then wtf is the point? Also where will it come from?? Pay for it! Are you kidding, this country is ready to increase the deficit for everything else, they can pay for this
- Insurance only covers wind damage, not flood damage, unless you specifically carry Flood Insurance. Which is prohibitively high in frequently flooded areas, and expensive enough in usually-not-floodprone areas that nobody buys it there either.
  You know "no take, only throw"? With insurance companies it's "no payouts, only premiums."
- A lot of these people don't have homeowners' or flood insurance. Of course insurance isn't going to pay for it.
  
  Do you not see that it's ridiculous that you need multiple types of insurance? It's a scam. Every step of the way they're trying to deny your claim. Just because that's how the system works doesn't mean that's how it should be.

And yet people still keep building houses in flood plains. Not to mention Florida.
Insurance companies have always ha the same scam, they’ll happily take your money and pay you $0. That’s the whole point of insurance companies, They use your money for investments and refused to pay out unless you take them to court.

7 comments