←back to thread

Is the world becoming uninsurable?

(charleshughsmith.substack.com)
476 points spking | 5 comments | 17 Jan 25 00:32 UTC | HN request time: 0.397s | source
Show context
bluedevil2k ◴[17 Jan 25 01:50 UTC] No.42733208[source]▶
Like we see in California, when the government sets a price ceiling, insurance companies just leave. Same in Florida. If the free market truly was allowed run normally, the insurance rates in Pacific Palisades or on the Florida coast would be so high that no one could afford to live there. Is that a bad thing? If someone was living in a house near where they tested missiles, we'd call them crazy. At what point can we say the same about people building and rebuilding over and over in these disaster areas.
replies(20): >>42733219 #>>42733293 #>>42733338 #>>42733367 #>>42733486 #>>42733536 #>>42733984 #>>42734013 #>>42734047 #>>42734060 #>>42734202 #>>42734459 #>>42734714 #>>42734874 #>>42739590 #>>42740487 #>>42741749 #>>42742138 #>>42743881 #>>42744799 #
hnburnsy ◴[17 Jan 25 04:16 UTC] No.42734013[source]▶
Not just the rates are managed, but also deductibles. I'd gladly have a 5 figure deductble to keep my or miums lower, but regulators think this is unfair to some.
replies(2): >>42734083 #>>42734098 #
1. forgetfreeman ◴[17 Jan 25 04:29 UTC] No.42734098[source]▶
Given over half of all households in the country have less than $20k in savings I'd say concerns over equality of access may be well founded. Edit: No? The poors can go fuck themselves? Alright then I guess.
replies(1): >>42734771 #
2. hnburnsy ◴[17 Jan 25 06:45 UTC] No.42734771[source]▶
How does just offering higher deductibles, hurt the 'poors'? Nobody said do away with lower deductibles. Are you saying they are not sophisticated enough to understand a proper deductible for their situation?
replies(3): >>42735138 #>>42735148 #>>42735189 #
3. ◴[17 Jan 25 08:02 UTC] No.42735138[source]▶
4. forgetfreeman ◴[17 Jan 25 08:04 UTC] No.42735148[source]▶
How does offering a deductible ranged well outside what the majority of households in the US can actually pay hurt anyone? If that isn't self-explanatory I'm not sure what to tell you.
5. consp ◴[17 Jan 25 08:11 UTC] No.42735189[source]▶
Higher deductibles generally lead to a lower overall money pool raising overall prices. They allowed that here in a far more regulated market and the effect was about 4pct higher prizes across the board. Effectively the people who cannot afford the higher deductibles are subsidizing the ones who can as the end result.