Quote:
Originally Posted by Chief Roundup
Why do people keep building homes in New Orleans, Florida, Napa County CA, and any other places have have long histories of natural disasters?
Short answer is because Insurance companies keep paying out. If insurance stops paying or puts restrictions on what they will cover people will stop rebuilding or building in those areas. Those areas should be considered inhabitable.
|
Or just jack up there rates. The insurance industry in Florida all but collapsed after Hurricane Andrew. So many insurers left the state and insurance rates really want up afterwards. Iirc, the state took over some of the industry because so many left.