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Cake day: July 11th, 2023

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  • Edit: I see now the comment I replied to is about subsidizing losses, not about having a state run insurance program.

    If the premiums are risk based, why not not? Ideally there would also be a buyback program for homes deemed to be uninhabitable due to climate risk. Maybe something like the state will buy the house at 80% of the value used for property taxes, up to a certain maximum (fixed dollar amount? Percentage over the county/state median?) This buyback program could be used when the premiums become unaffordable.



  • Water damage to your house is generally covered unless it’s specifically excluded (flood). Plumbing leaks are usually covered, and the same goes for wind driven rain.

    When it comes to your belongings, coverage is the opposite, meaning nothing is covered unless the policy specifically says it is. Plumbing water damage is covered, but wind driven rain is only covered if an opening is created by the wind or hail. This could be as minor as a missing shingle.

    Flood damage (the rising water kind) isn’t covered by homeowners insurance for the building or your belongings, but renters policies do typically cover flood damage.