Katrina victims lose in court - insurance wont pay.

Just saw it on CNN! So what is the point to buying insurance again? Despite it being a law to drive now? I'm so fucking mad now! Won't SOMEONE help LA? It looks like the courts just said no. Who is left?

... force people to buy worthless "insurance".

:mad:

Unfortunately, republicans ruined insurance. It used to be one of the few things that the "common man" could actually count on...no more..

It's legalized robbery.. If you NEED a mortgage, you MUST have insurance..(the lender requires it), and after paying monthly premiums for sometimes decades, a claim can suddenly render you UNINSURABLE..

The really sad thing is that in a CATASTROPHE such as Katrina, instead of the government coming in and supplementing insurance, they thwarted insurance payments by looking the other way, and allowing companies to stiff their customers..

In all the years we have paid homeowners insurance we have only ever had ONE claim, and the next year after that, our premiums went up dramatically.. (a pipe in the bathroom wall broke and we had to have some wallboard replaced & bedroom carpeting..) Our coverage increased by about double what the repair cost..and stayed up..

...by the insurance industry cabal and force those bastards to give rebates across the board. The insurance industry is one business which really deserves to be nationalized. I know of no other service in America where you are required to pay for the service in advance and then when it is time to collect on that service you have to beg to collect what you should have the right to without question.

The original concept of insurance was to create an emergency funds pool reserve which would be set aside as a source to cover disaster relief. Just how that got turned into a huge money making private Ponzi schemes to cheat people out of what they really needed for inexpensive long term protection would be an interesting study in white collar capitalistic crime.

We The People mean very little to the owners of this country.

My insurance was canceled & I haven't been able to find many who will even insure around here now, and the ones that do won't offer windstorm... so I can pay about triple what I was paying before (which I can't afford anyway) & STILL not even be covered for flood or windstorm. It's really gotten out of hand.

the point is that you must have it if you need to have a mortgage. (at least that is so where I live)