what is also interesting with insurance premiums is that my annual premium on a brand new home with no natural hazard risk is 0.5% of the replacement cost which in reality is indicating that the insurers see that as a roughly 1:200 risk of the house being written off in any one year - when the odds are likely to be closer to 1:10,000 - a…
what is also interesting with insurance premiums is that my annual premium on a brand new home with no natural hazard risk is 0.5% of the replacement cost which in reality is indicating that the insurers see that as a roughly 1:200 risk of the house being written off in any one year - when the odds are likely to be closer to 1:10,000 - another good argument for socialising insurance - we are already paying enough to cover the cost of retreat from floodways and coastal inundation along with the usual events such as fire - we just need to remove the middlemen.
what is also interesting with insurance premiums is that my annual premium on a brand new home with no natural hazard risk is 0.5% of the replacement cost which in reality is indicating that the insurers see that as a roughly 1:200 risk of the house being written off in any one year - when the odds are likely to be closer to 1:10,000 - another good argument for socialising insurance - we are already paying enough to cover the cost of retreat from floodways and coastal inundation along with the usual events such as fire - we just need to remove the middlemen.