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jmbcomms
New England (home), St. Maarten (several weeks each year).
Posts: 5,931
Joined: April 2002
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12 members (nevar37, Jerry_R, IWIWSE, AUCspouse, Zinka, JerseyPal, marybeth, barryvabeach, Todd, 3 invisible),
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Joined: Dec 2007
Posts: 2,040
Traveler
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Traveler
Joined: Dec 2007
Posts: 2,040 |
Insurance companies use major disasters as an excuse to raise rates. They make back the money they paid out on losses and then keep rates high for as long as possible after to keep profits high. Eventually competition comes back into the market and rates go down. Expect rates to normalize in 4-5 years absent a major storm.
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