TALLAHASSEE — Farmers Insurance Group announced Tuesday that it would no longer write new policies or renew existing homeowner, auto and umbrella policies, a day after Florida Chief Financial Officer Jimmy Patronis took to Twitter to threaten to take action if it did. “Hearing rumors @WeAreFarmers might pull out of Florida,” Patronis tweeted Monday afternoon. “If that’s true my office is going ...
So we should instead punish everyone else for not living in a documented flood plane?
You’re not being punished in that scenario. You’re in a larger pool which lowers risk. Lower risk means lower premiums. It’s one of the principles that makes socialized medicine in countries all over the world cheaper than the US healthcare system.
My rates would go up because of someone else’s choices. Not interested, sorry.
Lower premiums for Florida. Higher premiums for everyone else.
Risk pooling doesn’t work the way you think.