Special offer
Annette Lawrence , Palm Harbor, FL 727-420-4041, Making FLORIDA Real Estate EZ  (ReMax Realtec Group)

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Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I'm not sure, but one observation: floods hurricanes tornadoes etc. are natural disasters, while many fires are started by human error, irresponsibility or as a criminal act.

Oct 12, 2017 07:12 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm pretty sure it is required out here.  I certainly wouldn't NOT have it.

Oct 12, 2017 08:58 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Insurance companies are in business to make $$$ while protecting their clients. Lol

Oct 12, 2017 07:29 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

Maybe; however, I doubt it.

Oct 12, 2017 07:16 AM
Rainmaker
206,670
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

That a Hot question. I feel it will end up more like Hurricane insurance did after Andrew. Companies folded from the losses and withdrawed from Florida. The State stepped in and created that windstorm pool and for 20 years they were the only place to get windstorm coverage.  Little by little  companies are coming back. So the answer is no not subsidized but run by the state gov.

Oct 12, 2017 07:04 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Anything is possible... a lot will depend on how much underwriters feel fires will be an ongoing risk as compared with floods.

Oct 12, 2017 07:02 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that could easily happen.... flood insurance is incredibly expensive... we just listed a home and the flood insurance was $5,000 on this small ranch style home...a starter home!!!  there were seller concessions to make that deal happen....

Oct 12, 2017 07:53 AM
Rainmaker
2,220,654
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

That's a good question.  I will check with my insurance guru. 

Oct 12, 2017 07:44 AM
Rainmaker
7,836,139
Roy Kelley
Retired - Gaithersburg, MD

Nope. However, we can expect insurance policies to become even more expensive.

Oct 12, 2017 07:41 AM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Insurance is going to become even more expensive, as the Big Insurance Companies try to absorb the losses from CA and TX and FL.  

   But separate?  I don't see that happening.

Oct 12, 2017 07:36 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Interesting question.

Oct 12, 2017 07:03 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

No more insurances...lol!

Jun 01, 2018 11:12 PM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I know that fire insurance is required around here for any mortgaged property as well as any properties that are connected to another

Jan 07, 2018 05:57 PM
Rainmaker
4,936,705
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

With the amount of fires over the last 10 years yes.

Oct 14, 2017 11:44 AM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

It is possible.

Oct 13, 2017 03:56 PM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I doubt it.

Oct 13, 2017 06:40 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

If you have a mortgage, it is already required. No i do not think those who do not live in fire prone areas should pay more to cover those that chose to. I think you will see rates increase out west greatly. It is a horrible sight to watch and wonder how or if they can be prevented?

Oct 13, 2017 05:50 AM
Rainmaker
599,274
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

It wouldn't surprise me. Any time the government can take something over and screw it up...

Oct 13, 2017 05:19 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Mary Yonkers nailed this one!

Oct 13, 2017 04:57 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea

Oct 13, 2017 04:08 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I don't see that happening.

Oct 12, 2017 08:46 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I thought that maybe in some areas it was

Oct 12, 2017 05:58 PM
Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

We have hurricane ins, tornedo ins etc. I know my insurance covers fire!

Oct 12, 2017 03:42 PM
Rainer
417,221
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Lenders already require flood when in flood map area and fire/hazard on all loans for life of loan.  Some places now may not be able to get fire hazard for a reasonable cost. High-risk fire zones (mountains brush hillsides...) get rated more pricey. Some may not be able to find insurance to rebuild. Tragic. 

Oct 12, 2017 12:59 PM
Rainmaker
953,617
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

No, would not be necessary.

Oct 12, 2017 11:09 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

It would not surprise me in the least. 

Oct 12, 2017 10:53 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Possibly as wildfires don't happen in my state. Neither do hurricanes. I have side-stepped a few tornados though.

Oct 12, 2017 10:22 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Annette Lawrence , Palm Harbor, FL 727-420-4041 With what is happening in CA with the loss of so many homes, I would not be surprised.

Oct 12, 2017 10:17 AM
Ambassador
6,393,494
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Some places should never have homes built on them.

Oct 12, 2017 10:03 AM
Rainmaker
129,698
sandy straley
Rindlesbach Homes - Salt Lake City, UT
Selling Homes for over 40 Years

Here in Utah the homeowners policies include fire insurance.  The insurance companies here are pretty pro-active, requiring no tree branches hanging over or near the house.  As well as all timber be cut far from the house. . . . 

Oct 12, 2017 09:45 AM
Ambassador
2,178,603
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Perhaps it should, so the government isn't subsidizing all these natural disasters.   I think people who consciously buy in fire-prone, flood prone areas should pay their own insurance for the risk they are taking.  

Oct 12, 2017 09:31 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Anytime we are talking about hundreds of billions of dollars change it will

Oct 12, 2017 09:31 AM
Rainmaker
508,318
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

I hope it does not become a subsidized or government guaranteed system. You can see what a political mess flood insurance has become, it would be terrible if this happened to other insurance products.

Even though insurance companies take a big hit when disasters like the CA wildfires occur, they usually recover and ultimately make more money because they raise rates across the board for years after the event.

Oct 12, 2017 09:21 AM
Rainmaker
711,852
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

No, as fires can happen in any home if someone is careless with a stove or fireplace.

Oct 12, 2017 09:16 AM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Insurance companies already pay unannounced visit to do drive by, enter someone's back yard threaten to dump insurers if certainly safety conditions are NOT met.  Most home owners do not read the letter sent that someone is watching their life style, fire code violations, vegetation violations.....

Oct 12, 2017 07:46 AM