Florida is getting smashed tonight. We have never seen storms like in these recent decades and the trend is continuing. This storm was 75 mph less than 24 hours ago and it's now cat 4, 140 mph with possibly a 20 ft tidal surge, 5 ft above the highest levees in Texas. Galveston sea wall is 14 ft. That wall would act as a giant sand bar and force any wave up to probably 30 ft or more. Galveston would be obliterated. This year started with an early July storm reaching cat 5 as it reached the Caribbean. Only a couple of cat ones from that far east so early in history.
Most insurance companies have already left Florida. This is going to have a disastrous impact, not just on Florida, but the entire southeast. It is projected to still have hurricane winds when it reaches Atlanta. The insurance industry is about to implode yet no finance companies will touch a home loan without coverage.
Texas authorized a 10 percent rate increase as a result of Beryl losses which was barely a cat one. Since the Fair Plan was set up for Texas coastal counties, imagine what impact such storms will have when we get one. It's not if, but when.
Say a prayer tonight for those Floridians.
Most insurance companies have already left Florida. This is going to have a disastrous impact, not just on Florida, but the entire southeast. It is projected to still have hurricane winds when it reaches Atlanta. The insurance industry is about to implode yet no finance companies will touch a home loan without coverage.
Texas authorized a 10 percent rate increase as a result of Beryl losses which was barely a cat one. Since the Fair Plan was set up for Texas coastal counties, imagine what impact such storms will have when we get one. It's not if, but when.
Say a prayer tonight for those Floridians.
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