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Hurricane/Windstorm Insurance  

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Maynard
(@Maynard)
Active Member

Just curious, what percentage of people on STX carry hurricane/windstorm insurance?

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Posted : September 20, 2017 11:28 pm
NorthsideKevin
(@NorthsideKevin)
Eminent Member

It will be interesting to see which companies "disappear" as they did in Marilyn, leaving re-insurers like Lloyds of London holding the bag.

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Posted : September 21, 2017 10:13 am
LiquidFluoride
(@LiquidFluoride)
Noble Member

Just curious, what percentage of people on STX carry hurricane/windstorm insurance?

I think it's mandatory for home owners.

There was a [URL="http://blogs.law.harvard.edu/abinazir/2011/06/15/what-are-chances-you-would-be-born/"]1: 400,000,000,000,000[/URL] chance of you being born: what have you done with your miraculous life today?

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Posted : September 21, 2017 10:55 pm
ironheadUSVI
(@ironheadUSVI)
Reputable Member

Just curious, what percentage of people on STX carry hurricane/windstorm insurance?

I think it's mandatory for home owners.

No one has ever forced me to insure a house.

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Posted : September 22, 2017 10:41 am
NorthsideKevin
(@NorthsideKevin)
Eminent Member

It's mandatory for mortgagor homeowners.

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Posted : September 22, 2017 1:43 pm
ironheadUSVI
(@ironheadUSVI)
Reputable Member

It's mandatory for mortgagor homeowners.

Of course. But is isn't mandatory for homeowners.

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Posted : September 22, 2017 2:10 pm
LiquidFluoride
(@LiquidFluoride)
Noble Member

It's mandatory for mortgagor homeowners.

Of course. But is isn't mandatory for homeowners.

Yeah... I'm a debt slave so I think in those terms

There was a [URL="http://blogs.law.harvard.edu/abinazir/2011/06/15/what-are-chances-you-would-be-born/"]1: 400,000,000,000,000[/URL] chance of you being born: what have you done with your miraculous life today?

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Posted : September 22, 2017 10:42 pm
Scubadoo
(@Scubadoo)
Noble Member

I got full windstorm insurance for the condo insides this year from Lloyds of London and that wasn't cheap. HOA insurance covers the building. My main concern is the roof going off since everything else is concrete and steel and the windows and sliders all have hurricane shutters. I think it's Murphy's law that those with insurance don't get damaged. I'd guess a lot don't have it if they're not required to. There are low interest government loans for those that don't but that doesn't help with the principle cost to repair.

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Posted : September 30, 2017 8:56 pm
LiquidFluoride
(@LiquidFluoride)
Noble Member

my friends / quasi-neighbors didn't have any insurance.. lost both their roofs.

There was a [URL="http://blogs.law.harvard.edu/abinazir/2011/06/15/what-are-chances-you-would-be-born/"]1: 400,000,000,000,000[/URL] chance of you being born: what have you done with your miraculous life today?

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Posted : September 30, 2017 9:18 pm
Gumbo
(@Gumbo)
Reputable Member

I have no insurance either. The cost that I was given was ridiculous (wood constuction), no damage to the house. Neighbors house is concrete, roof and some walls gone. From what I have seen of Irma destruction, If I were building out of pocket again I would have a solid pour cistern and foundation. The rest would be wood frame and Hardee siding.

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Posted : December 25, 2017 3:52 pm
Darkmuse
(@Darkmuse)
New Member

The real question though is why aren't major insurers licensed to sell policies on the USVI? Is it that they don't want to offer products here, or is it that the existing companies have a solid monopoly and therefor can charge whatever they want?

I have a solid stone home built in the 40's with large galleries, concrete roof, no surrounding trees, shuttered windows, etc... Due to construction and location it has Never had a storm claim since it was built but we are still paying almost 5times what a similar structure would cost to insure stateside.

Grrr....

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Posted : May 21, 2018 8:23 pm
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