Quote:
Originally Posted by ranchlandsselling
Yeah no kidding - how do premiums go up if no one is covered and no payouts?
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It's not that no one is covered, it's homeowner policies that won't be covered. So companies will still have losses to pay out for auto, commercial, farm, etc.
Quote:
Originally Posted by puckluck2
The government will step in and pay for most of the damage not covered by insurance, not to worry.
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I'd worry a little. Speaking from BC experience there was a flood upisland where homes were destroyed, not covered by insurance, and the government gave out a max of $47,000 or so for losses. Not exactly enough to replace a home. My understanding is it can be a long process too.