So besides "Gebäude versicherung" against uhm normal weather, fires & stuff there's also "Elementar schaden versicherung" against, you know, floods and actual danger which is either not offered or is very expensive in places where it can happen.
Capitalism is working so well, huh.
@charlag as someone aspiring to buy a house, I'm looking at height maps and flooding simulations when a house seems interesting (even if we can't afford anything around here just yet).
@charlag I lived in florida for several years, and there were separate insurances for fire/etc., flooding, and "wind" (in other words hurricanes).
In certain areas, supposedly based on the frequency of occurrence of those kinds of damages in the previous 100 years, the flood and wind insurance were required by banks to write mortgages for properties there. Of course they were also correspondingly expensive, based on the same statistics.
The icing on the cake was that, when there was an actual hurricane that did a lot of wind and flood damage, the insurance companies just declared bankruptcy and didn't pay out. (That's when I found out that almost all companies that provide these kinds of policies have a separate shell company in florida, so they can do this without affecting the parent company.)
@Tak thanks to John Oliver I've heard about how broken US insurance is. Like you are required to have it and govt sponsors it and some companies are happy to give it to you even if you are building on the beach and flooder each year because they are not paying for it
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