| Did you know that every day, in states covered | | | | providers wouldn't touch with a ten foot pole. |
| by "last resort" insurance plans, private | | | | These organizations are funded by the state and |
| homeowners insurance companies are committing | | | | government and distribute the cost of offering |
| murder? No, the bodies haven't been found. There | | | | (relatively) cheap homeowners insurance |
| aren't any. What's dying is the sense of security | | | | coverage to high risk areas throughout the |
| and dependable support that you should be able | | | | private homeowners insurance companies |
| to count on your homeowners insurance provider | | | | operating in the area. |
| to give you that suddenly no longer exists. | | | | This means their funding and their ability to |
| Private homeowners insurance companies retain | | | | provide for a large area in the event of an |
| the right to insure (or deny coverage) to anyone | | | | emergency are limited, however. When you |
| they choose, for any reason they choose. No one | | | | consider the millions of dollars worth of damage |
| is looking over their shoulder and telling them it's | | | | that storms like Katrina do when the roll through |
| not nice to refuse to issue homeowners insurance | | | | town compared to the small amount of money in |
| policies to people living along the Gulf of Mexico or | | | | premiums these organizations bring in every year |
| other high risk areas just because there's a very | | | | you can easily see how quickly they could sink in |
| real possibility they'll actually have to pay out | | | | debt over their heads, leaving them unable to |
| multiple homeowners insurance claims throughout | | | | provide for the needs of the homeowners that |
| the duration of their policy period. | | | | count on them to pick up the slack after disaster |
| This sounds like good business for most people | | | | strikes. |
| until you start to think about the effect it's going | | | | Their investments could be destroyed, with no |
| to have on homeowners in these areas and the | | | | hope of compensation. |
| businesses considering coming in. No one is going | | | | Private homeowners insurance companies are |
| to risk hundreds of thousands of dollars in | | | | digging that grave even deeper by becoming |
| investments to build a home or a business with | | | | increasingly conscientious about issuing their own |
| the almost certainty that they're going to lose | | | | policies. In many cases, individuals who live in |
| that investment permanently the first time a | | | | areas that are rarely affected by these storms |
| storm comes sweeping through town. Without | | | | but are deemed "potentially high risk" are left |
| homeowners insurance investing large amounts of | | | | without other options. The number of houses and |
| money in the continued growth of these areas is | | | | businesses covered by these "last resort" plans |
| just too risky. In time, these coastal towns would | | | | has increased dramatically in recent years, so |
| eventually have died off. | | | | much so that there's virtually no chance these |
| "Last Resort" insurance companies stepped in to | | | | organizations will be able to cope with the influx. |
| help fill the gap, insuring homeowners and | | | | These state insurance plans are being murdered |
| businesses attempting to settle in and around | | | | by private homeowners insurance providers, and |
| areas that private homeowners insurance | | | | no one's doing a thing to stop it. |