When will insurance rates skyrocket due to all these Hurricanes?

T

The Kin

I'm not just talking about Katrina

2005
Katrina (LA AL FL) 2005 4 190,000,000,000
Dennis (FL) 2005 4 9,000,000,000

2004
Charley (SW FL) 2004 4 15,000,000,000
Ivan (AL/NW FL) 2004 3 14,200,000,000
Frances (FL) 2004 2 8,900,000,000
Jeanne (FL) 2004 3 6,900,000,000

2003
Isabel (Mid-Atlantic) 2003 2 3,370,000,000

2002
Lili (SC LA) 2002 1 860,000,000

Totals from the major Hurricanes alone...

2002 Total 1.9b
2003 Total 3.4b
2004 Total 45b
2005 thus far 200b
 
But surely the reinsurers will be passing on their extra costs to insurance companies which will pass it onto the consumer.
 
On another website, quite a few people recently mentioned that their insurers are now running credit checks on them. After years with these very same insurers, it appears they are looking for any reason to jack rates.
 
homeowner rates have skyrocketed 3 years straight. last year state farm rasised me 12% and the year before 10%. on the coast of fla rates have doubled the last 2 years
 
This worries me... I'm in Real Estate and my company holds a shitload of land in Florida. Florida's population is expected to boom but that might change if homeowners' insurance skyrockets for Hurricane prone areas. Something I suggested to my superiors.
 
Charley, Ivan, Frances and Jeanne most inland areas were not effected much. everything was back to normal within a week, the only problem was picking up the debris on the roadways and the Oak trees that fell upon some homes. Other than that; damage to homes in the inland areas were at a minimum.
 
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