alt Hacker NewsSomething people that bitch about the high cost of California vs Florida won't mention is how high auto and home owners insurance is in Florida. Florida is a high risk state with a lot of fraud.
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deepsun • yesterday at 11:49 PM
Yet at the same time federal government allowed home insurance to be non-actuarial (aka insolvent) for natural disasters like hurricanes. So essentially the rest of the country subsidise residents in disaster-prone areas. So Californians pay to make home insurance lower for Floridians.
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MattGaiser • yesterday at 11:33 PM
A lot of this was self inflicted by Florida. Between their roofing coverage laws and their attorney fee laws, suing for new roofs was basically free, so everyone and their dog did it.
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The reforms that were passed a few years ago are actually working somewhat OK. I'm 3 miles from the beach on the coast and pay under $2k for private home owners insurance.