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Old 03-31-2008, 06:07 PM   #21
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Originally Posted by rjpatt View Post
I would think that insurance companies would offer umbrella policies in New Orleans. May be at a much higher price than normal, but even New Orleans has successful businesspeople with significant assets that need protection.
I know. Amazing, isn't it? Major insurance companies are carrying on a moratorium on new policies of certain types down here at the present time, including homeowner's insurance. I think it probably has something to do with that moratorium, though I suppose it really doesn't matter why something is, as much as that it just is.

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Old 03-31-2008, 11:00 PM   #22
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A 10 year old vehicle is just getting broken-in (well, as long as it's Japanese).

Do you guy do nothing but buy new cars and clothes?

Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
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Old 04-01-2008, 06:40 AM   #23
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Originally Posted by rjpatt View Post
I also don't understand the connection between Katrina and umbrella insurance. Umbrella insurance only covers liability (correct me if I am wrong) so what liability is created by flooded homes?
In states like FL and LA, the regulators have been playing a game of chicken with the insurers, and consumers have been caught in the middle. Not holding my breath for this to change soon.
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Old 04-01-2008, 09:21 AM   #24
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Originally Posted by rjpatt View Post
what liability is created by flooded homes?
Your house might float down the street and hit someone.

I mean, we've all already seen a house picked up by a tornado and dropped on a witch.

Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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