Lake Martin Topics: McCarran-Ferguson

Lake Martin Topics

(Lake Martin Specific)

111,143 messages

Updated 4/25/2024 7:30:23 PM

Off-Topic

Lakes Online Forum

83,605 messages

Updated 4/25/2024 9:33:24 PM

Boat Maintenance

Lakes Online Forum

5,193 messages

Updated 4/3/2024 3:47:36 AM

Lake Martin Fishing

(Lake Martin Specific)

4,169 messages

Updated 4/16/2024 3:16:57 AM

Jokes

Lakes Online Forum

4,169 messages

Updated 4/15/2024 11:05:05 PM

Sports

Lakes Online Forum

4,260 messages

Updated 3/24/2024 9:24:45 AM

Grilling & Recipes

Lakes Online Forum

2,976 messages

Updated 3/20/2024 11:53:43 PM

Lake Martin SCUBA

(Lake Martin Specific)

169 messages

Updated 5/31/2023 1:39:35 PM

Tallapoosa River Topics

Lakes Online Forum

98 messages

Updated 4/15/2024 1:00:58 AM

Forum Usage Rules

Welcome, Guest

Select View Mode: [ classic | beta | recent ]

	Name:	Tallyman -
	Subject:	McCarran-Ferguson
	Date:	1/26/2007 11:25:53 AM

Well...your version is the Mississippi jury's version and I know something about Mississippi jurys so maybe your version is correct and maybe it isn't. Smart people buy flood insurance when they live next to the Gulf. I live on a big hill here in Tallahassee so I don't have to worry about that.

State Farm has a long and deserved reputation for being hard to deal with on claims.

Here in Florida, insurance premiums are out of sight and the legislature recently enacted a law that puts the state government on the ultimate insurance hook. Some people, who have no mortgages, are refusing to obtain insurance. Worse, some are saying, "Why buy insurance when FEMA will pay me for any loss." This reduces the pool of premium payers and that increases premiums for those who must have windstorm insurance to satisfy their mortgagees.

I am a member of USAA and my premium has not increased at all, but if they hand me a $10,000 bill for my homeowners this year I will just do without windstorm coverage and buy fire and liability only. I can afford to take the chance.

I wouldn't bet on the federal government repealing the McCarran-Ferguson act, and we will all get to pay for the Mississippi losses, one way or the other.

BTW, I am not an apologist for insurance companies but I have seen some harsh realities in Florida. Many Florida citizens, who have built their houses on sand, will bail when they can and buy property on Lake Martin, so for those who care about their property appreciating, it is likely that it will!