Offshoreonly.com - Hurricane Ian

Offshoreonly.com (https://www.offshoreonly.com/forums/)

- General Boating Discussion (https://www.offshoreonly.com/forums/general-boating-discussion-51/)

- - Hurricane Ian (https://www.offshoreonly.com/forums/general-boating-discussion/377227-hurricane-ian.html)

Quote:

Originally Posted by SpeedGirl (Post 4846784)

First off, my heart breaks for all the lives, business, homes lost from the hurricane.

Your comment has struck a nerve with me - this storm could have hit anywhere along the coast, not just Florida.

I lived through flooding from Ida, my house is 8 blocks from the Long Island Sound, many parts of our town is STILL trying to recover. I don't care where you live, a natural disaster is completely unavoidable... mother nature has no F$%s to give.

This storm is not over and will destroy more in its path. Let just pray for our brothers and sisters who lost or may lose everything.

Fairfield? Sandy really rocked the area too.

Quote:

Originally Posted by Jupiter Sunsation (Post 4846832)

Did this boat have any ownership in Boca Raton, FL? If so I have a great story about it.

Sorry to hear or "see" the damage on your other boat.

I’m not sure if boat came from Boca? I bought it in 2002 from a broker in Mass. I thought I was the second owner but not sure. Just brought it down here a few months ago.

the other boat is insured and my wife and I are fine, that’s what really matters

Quote:

Originally Posted by Indy (Post 4846833)

Fairfield? Sandy really rocked the area too.

Yes, Sandy flooded our town too, Ida was the most recent that is still engraved in my head..... I'm Just trying to make a point that homes can be destroyed anywhere, not just FL.

Quote:

Originally Posted by Jupiter Sunsation (Post 4846720)

Early estimates by catastrophe risk modelers project that Ian’s insured losses in Florida — excluding claims to the National Flood Insurance Program — will be in the $30 billion to $50 billion range. Fitch Ratings estimated insured losses between $25 billion and $40 billion.

https://www.sun-sentinel.com/news/we...ibm-story.html

Most companies still have reinsurance but due to this most probably wont be able to afford it come renewal time.

add in this will spike rates too so home buying will slow as well. All around a ****ed up situation

Quote:

Originally Posted by Jupiter Sunsation (Post 4846766)

There are also a lot of people that are new to the area (SW FL) and I would expect them to walk away from the properties and move back home (let the bank and the insurance companies fight it out). Even if they fix the house the values are shot if you have a dozen houses on your street that didn't get fixed. With a monster claim, the insurance company lets the bank hold the money in escrow to prevent you from cashing the check and moving on. When the fix it check doesn't match the estimates then the owners are going to pack up and leave.

PVC pipe is up 250% in the last 15 months so add that to your 2X4/plywood/roofing costs and suddenly every house is real expensive to replace! On the older homes the cities will want the upgrades (which insurance is not likely to pay for), stuff like upgraded electrical panels or roof strapping (holds the roof trusses to the walls of the house). Then would you go through all this if you knew the policy was going to get cancelled or significantly increased?

So a little miss information.

We do not have the mortgage company hold the check, we don't care at all. We do have to include the mortgage company as a party on the check. That is per your policy and you can thank Katrina folks taking checks and running for that.

It is 100% up to your mortgage company if they hold it or not. Your insurance company has no care either way. We have no interest in the home t
itselt unlike the mortgage company.

Quote:

Originally Posted by Nate5.0 (Post 4846845)

I have a friend of over 20 years that just got a 400K claim check, MTG company put it in escrow and they release the funds as necessary. He didn't get the check issued to him but I suspect if it was a lower claim amount like 20-25K then he would have control of the funds. House is worth 1.2ish, I think he told me he owes 550 or so.

I have a buddy that is an ins. agent and I usually have dinner with him a couple times a month. He has all sorts of bad stories to share. He says in 25 years the industry has gotten significantly worse.

Quote:

Originally Posted by hogie roll (Post 4846864)

Bunch of NTs and a mystic

https://www.instagram.com/reel/CjI7r...d=YmMyMTA2M2Y=

There's one light blue boat in that video with a console cover still in place. Were all the other boats left uncovered ? There are a couple blue tarps on the ground.

The 42' Mystic appears to be the boat listed on the preowned section of the Mystic powerboats website
https://mysticpowerboats.com/preowned/2021-m4200/

Quote:

Originally Posted by Nate5.0 (Post 4846845)

I had a friend have a total loss on a house (fire), he had replacement coverage, not market value which gave him 5 times more money based on the square footage vs average price of comparables in his neighborhood (was in A DUMPY NEIGHBORHOOD) so when they payed his claim, they gave him 80% of replacement cost and told him IF he rebuilt and provided receipts, bills, contractor statements etc they would pay up to the full replacement cost (the 20% difference) based on square footage of old house that burned down. House was worth 45k , his 80% check was 230,000 so he donated the lot to habitat for humanity and walked away.