Nice thing about Kubota Credit

[Henro]

<font color="blue"> How about them apples, they won't even give you insurance that doesn't cover flood damage if there's a storm approaching. </font>

LeRoi,

Not to come to the defence of the insurance companies...but I think they sell insurance to cover unlikely events. If a bad storm is coming, there could be other damage expected in addition to flood damage, like wind damge, falling trees, maybe even power surges that cause fires in homes.

Another example: pretty hard to buy life insurance if you have a terminal illness.

After that storm passes by, they will probably sell insurance at the prevailing rates.

Probably hard to get homeowners insurance in California when your house is in the middle of a brush fire. And so on.

If they did sell insurance anytime, anywhere...in the end we would all pay more for our coverage. And those who gambled and only purchased when they felt there was an immediate need would be the winners. So I guess I personally can't argue with how the insurance companies operate in the example you gave.

Just my take on it... /forums/images/graemlins/smile.gif

 

[LeRoi]

Henro,
I can appreciate and understand the insurance companies not selling hurricane insurance if there is a storm in the Gulf of Mexico, but I cannot understand them denying you liability car insurance that doesn't cover anything but the other persons vehicle IF you are in an accident AND it's your fault.
OTOH,
Maybe I don't understand everything that is covered by / under liability car insurance. I am willing to be educated /forums/images/graemlins/grin.gif

 

[Junkman]

Quick answer... when everyone is making a mad dash to get to high ground, they will be driving anything and everything that has wheels. In desperate times, it isn't prudent for any insurance company to take on additional risk.

 

[JoeG]

While I find it bizarre to hear that an insurance company would refuse to sell auto liability insurance before the hurricane (maybe all the customer service agents evacuated!), I can think of two scenarios where your own liability coverage might pay you during a hurricane.

1. "Liability" coverage is actually made up of three components. bodily injury you may do to others, property damage you may do to others property, and personal injury protection (PIP) for yourself. If you happen to be in your car during a hurricane and are injured by an act of nature the PIP coverage should pay for your medical bills.
2. An optional component of "liability" coverage is underinsurance coverage, although I don't know is this is offered in FL. Basically it guarantees you the same coverage as you personally pay for in the event you post a claim against someone who has lower limits than you do.