Mortgages need Tornado insurance in the new or old "Tornado Alley" and insurance companies are crunching the numbers to see how much they need to charge everyone for insurance so they don't go bankrupt insuring things that they cannot insure for lower prices.
As a direct result less people will be able to buy tornado insurance ( for many different reasons) so the people without insurance if their homes are hit with tornadoes and destroyed lose everything and likely won't be able to replace what they lost either.
So, in some ways having tornado or fire insurance in those states could be a short or long term situation where IF you don't have it it will be a death sentence or at least a sentence to living hell as they go bankrupt one by one from these tornadoes or the price of the Tornado or Fire insurance.
And soon this is expected to be the worst situation for Hurricanes that they have seen in years too. So, this also goes for Hurricanes from Louisiana to Florida and up north the path that Hurricanes can take any given year.
The reality of insurance for hurricanes, fires and Tornadoes or even Earth quake insurance is pretty horrific for homeowners nation wide now because of Extreme Global Climate changes.
And also in other countries when things happen like this losing your home or business often means the deaths of one or more members of their family because there is no social safety net at all in many or most countries right now.
Many people are having to buy these kinds of insurance in Canada and Great Britain because other insurers won't insure anything in places like California, Texas, or Florida and other states here in the U.S.
This is already happening!
No comments:
Post a Comment