Here we go again
Lots of talk but no action...so far. Our legislators have not come to a decision on property tax relief in their first day of negotiations. Are you surprised? Not me. There are too many special interests involved, too much posturing, for any meaningful change. I suspect whatever break we get will likely be similar to the relief we got for our homeowner's insurance -- which is to say: very little.
The other day I checked with State Farm to see what my insurance might be when it's renewed in July. It has more than doubled. When I asked about the breaks we were supposed to be getting from the earlier legislative session, my agent informed me -- correctly-- that most had been for Citizens' customers. State Farms buys the bulk of its reinsurance from private companies, not the state. Thus, SF policy owners aren't getting any sizable breaks.
The other day I checked with State Farm to see what my insurance might be when it's renewed in July. It has more than doubled. When I asked about the breaks we were supposed to be getting from the earlier legislative session, my agent informed me -- correctly-- that most had been for Citizens' customers. State Farms buys the bulk of its reinsurance from private companies, not the state. Thus, SF policy owners aren't getting any sizable breaks.
posted by Ana Veciana-Suarez at 8:32 AM
Get our feeds
1 Comments:
Ana, great point. Look at the gas prices. Currently, they are at post-Katrina price levels. People don't seem to be complaining as much as they did back when and the media isn't reporting anything much on the matter either. The only difference is that there is no Katrina, and the few reports iv'e read blame proposed OPEC cutbacks and other insignificant events that don't really add up, such as the takeover of the British vessel over Iran waters. I mean common, that was merely an incident and it's gone and over with.
I would really like to see the proposal of having the choice of opting out of hurricane insurance-- period. If they can't come up with a plan to lower its cost then let the homeowner decide.
- Pay only for fire, flood, and other misc. insurance
- Open a separate bank account and deposit what would have been spent or LESS then what windstorm insurance would have cost.
- When the big one hits, you have some money to clear your property from damage.
CONS:
- Big one hits too soon and not enough was saved in the personal fund.
- Most people won't track and save the money, or perhaps use it for other things.
PROS:
- Not having to deal with insurance company at a time when everyone else is.
- Not having to fork over a deductible. The deductible is the money you saved.
Post a Comment
<< Home