Very true

Man whenever a hurricane is in the gulf and my family is all like "pray it doesn't come our way" I'm just like... so you're asking God to ruin someone else's life? Shit is insane.

Absolutely prophetic.

Tell us you're from the USA without telling us you're from the USA.

Bold of you to assume that the coral basin of Florida an Louisiana would not let water bubble up from the soil as it rises.

You just reminded me that there's a version of Pandemic inspired by this, it's actually really fun

You have a right to live there. I have no problem with people living in these areas.

What I disagree with is the expectation that the rest of society pay for that right when it’s an area that you know will get damaged.

With insurance (not that I’m in favor of private enterprise profiting off your potential for catastrophe) that cost was spread out over you and your neighbors, maybe even some of the rest of the insurers customers, with increased premiums.

But if you choose to stay in a known disaster-prone area where homes are expected to be wrecked fairly regularly, society (the taxpayer) shouldn’t be on the hook for that.

(I say “fairly regularly” I don’t mean someplace that might get a random tornado, but places that are regularly impacted by hurricanes such as the East/southeastern coastal areas, flooding along the Mississippi, etc.)

I like when people think outside of the box

but let's think about that concept.

you , myself, and 22 others live in a high risk flood zone. the insurance companies won't insure us because of the high risk.

if we (the 24) try to insure ourselves, there is no way to gather enough premiums to offset the losses.

think about it, the insurance companies will insure LARGE numbers of homes. then use the premiums to pay for losses on a few of those homes. so when someones house burns down or gets destroyed by a flood there is money in the bank to cover the loss. but since it is a smaller number of people putting in premiums, there is a smaller amount of money in the pot to cover the loss.

all the homes are in a high risk flood zone, it wouldn't take much for all the homes (in the co-op) to be destroyed in the same flood to wipe out the pile of cash and not have a way to rebuild.

i like your idea but the end result makes in a solution that just won't work. sorry.

In most cases it is. And since the insurance company won't insure the property basically becomes unsellable

There are areas that will be much worse. In Minnesota we will see some issues but trust me, we basically won’t see massive flooding. The tornadoes might and probably will get worse but we won’t see entire towns removed because of flooding or massive fires. Iowa, North and South Dakota, Wisconsin will also be fine.

It’s low lying coastal area that will get crushed. Also going to (for example) the East side of California could be problem areas. We will have to live in a smaller section of area.

Not sure who downvoted you though

Insurance is all about socializing the cost of recovery (and taking a cut for yourself on the way) by getting a pool of people to pay in. If all the people in the pool are in a small, flood-prone area, the costs would likely be no different than no insurance. You have to get the pool to include people that will never file a claim to help cover the others.

Could you? Yes.

But you wouldn't want to insure anyone or anything in those high risk zones. You'd go broke.