Milton

[RT Firefly]

Greetings,
What sorta surprised me about "Milty" was it lingered, for what seemed the longest time, in the gulf and then bazoom, it was across the state and out to sea. I don't have any long term observations or memories of hurricane "births" but it also seems more are developing IN the Gulf as opposed to off the coast of Africa.

We live in the Ottawa, Canada area and the incidence of tornadoes and other extreme weather events appears to have increased over the last several years. I vaguely recall hearing that continental weather patterns have shifted eastward thus causing the unnatural occurrences around here.

 

[Don L]

just knock off the BS and go to below and donate

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[mvweebles]

I just finished beer and a slice of pizza with a friend whose house was flooded similar to mine except their house is on the water and they completed a 6-figure renovation a year or so ago. Nice house. Nice renovation. Their house is on the water with a 7-figure boat behind it (which survived the storms just fine).

Mentally, they are totally toast by Helene and Milton. Ready to move anywhere that's not Florida. Cheryll and I on the other hand are much more sanguine about the loss even though we, unlike them, are woefully underinsured (intentional) and will do most of the repairs ourselves.

My takeaway is if you have too much of your net worth tied up in a single asset which is at-risk, you are susceptible to extreme disappointment. Frankly, it's part of the reason we own an old Willard 36 vs some flavor of Defever/Nordhavn/KK/etc. I guess it's called diversification but for ud it was unintentional. Just did what felt comfortable to us. Modest house. Modest boat.

We will take a decent whack in terms of time and money due to the storms. But we're diversified and didn't stretch for either boat or house. So we still wear a smile even when we grab Advil to soothe the aches.

My dearly departed father used to say "don't let your possessions posess you." I think we're doing okay.

Peter

 

[Jklotz]

My buddy in Largo txt'ed. Said his house is ok, although the power is out. Sure hope we're done with this for the season. I'm tired of seeing crashed boats and flooded towns.

 

[psneeld]

I just finished beer and a slice of pizza with a friend whose house was flooded similar to mine except their house is on the water and they completed a 6-figure renovation a year or so ago. Nice house. Nice renovation. Their house is on the water with a 7-figure boat behind it (which survived the storms just fine).

Mentally, they are totally toast by Helene and Milton. Ready to move anywhere that's not Florida. Cheryll and I on the other hand are much more sanguine about the loss even though we, unlike them, are woefully underinsured (intentional) and will do most of the repairs ourselves.

My takeaway is if you have too much of your net worth tied up in a single asset which is at-risk, you are susceptible to extreme disappointment. Frankly, it's part of the reason we own an old Willard 36 vs some flavor of Defever/Nordhavn/KK/etc. I guess it's called diversification but for it was unintentional. Just did what felt comfortable to us. Modest house. Modest boat.

We will take a decent whack in terms of time and money due to the storms. But we're diversified and didn't stretch for either boat or house. So we still wear a smile even when we grab Advil to soothe the aches.

My dearly departed father used to say "don't let your possessions posess you." I think we're doing okay.

Peter

A lot of advice from really well to do people (that actually stay well off for their whole lives....like Warren Buffet) suggest living below your means can bring everlasting wealth and way less stress/happiness.

Talking with several bankers, they have seconded that in that they repossess enormous amounts of "toys" like boats, airplanes, expensive cars, etc. Many USA residents live to the edge which when disaster hits, puts them in a bad place. It's the American way it seems.

 

[HopCar]

A friends house in Punta Gorda got six inches of water in it. His boat, a 25 ft Aquasport came off the lift and is upside down in the canal. Electricity is back on and the air conditioner works!

 

[Delta Riverat]

Yes, live below means works well.

 

[Hippocampus]

But this thread is about boating.
Climate change is of interest because it has impact on boating. I got married on a beach in Sanibel. Have friends who are natives and others with houses in Fl. Wife’s parents owned in the Villages. Ive repetitively rented both flats boats to flyfish for bonefish or Spanish mackerel and such along the south west coast of Florida or CCs for other game on both coasts. Was planning on going this winter as we’ve done in the past. I like Florida. Before the last two storms was talking with the bride about doing the usual. Rent a condo and a boat for a few weeks. Now she says give it a year. Think others have made the same calculus. It’s gotten very expensive and you don’t know what will be left of your destination in the winter after the storms of summer and fall.


Similarly I’m upset underwriting other’s decisions to live in high risk places. I do this with my boat insurance and home insurance as well. It’s not only limited to the south. In neighboring towns (Marshfield, scituate and others) houses get wiped out near annually. They are on barrier peninsulas or beaches. Insurance is set up so I underwrite part of their losses year after year. It’s worse with boat insurance. Cities like Hoboken and decades in the past New Bedford spent huge money hardening their harbors and infrastructure and vulnerability of housing. Florida has not. Continuing to build on the flood plan and putting in canals so everyone can have a boat in their backyard. Fine go for it but I’m sick of subsidizing it. At least in my area between insurance and town rules rebuilding has become more difficult and there is a slight trend to decrease density. Unfortunately the ultra rich buy several of these properties and build mega mansions that are hardened to get around restrictions.

When I first started to go to Florida (single digits-maternal grandparents had a Miami apartment when I was a kid) much of the shore line had vegetation to at least partially mitigate storm effects. Density of boats in the water and housing at risk was a fraction of what it is now. Justice suggests your decision to boat and live in the high risk regions in Florida should not be my problem. If you can underwrite your risk and losses god bless. But that’s not the case.

We’ve decided to downsize and stay above 39-40N. A good part of the reason was the downstream impacts of climate change. Resultant expenses and inability to make secure plans. Limiting ourselves to mid November to April there means the same money for travel with less payoff time. You need to do your arrangements months and months in advance. You’re insecure about what will be there when you get there.

This all isn’t a new problem. Even predates the current bugaboo about climate change. To get an earlier perspective and still valid and have an excellent fun read pick up some John D. MacDonald as mentioned earlier.

 

[mvweebles]

Similarly I’m upset underwriting other’s decisions to live in high risk places. I do this with my boat insurance and home insurance as well. It’s not only limited to the south. In neighboring towns (Marshfield, scituate and others) houses get wiped out near annually. They are on barrier peninsulas or beaches. Insurance is set up so I underwrite part of their losses year after year.

The nature of insurance is to syndicate risk. If you want to only underwrite your own risk, don't get insurance. It's a choice and risk.

My wife and I talked as driving to our house to work this morning. We lived and worked all over the country. I had long-term assignments in almost every corner. NYC, Washington DC, Los Angeles, Charlotte, Houston, Detroit, Denver, and a bunch of smaller assignments elsewhere. What we both love about Florida compared to all the other places is the constant sunshine. Ive heard it called Kodachrome. The blues are so blue, the greens are so green. When I worked in Texas, everything was a shade of brown. NYC and Detroit, grey. The only place that rises near Florida is Colorado, or perhaps northern New Mexico.

We just made our first home cooked meal - breakfast sandwiches with chibata rolls toasted on the Weber Q. Small victory but a meaningful one for us. Progress in very small steps.

Peter

 

[psneeld]

The nature of insurance is to syndicate risk. If you want to only underwrite your own risk, don't get insurance. It's a choice and risk.

My wife and I talked as driving to our house to work this morning. We lived and worked all over the country. I had long-term assignments in almost every corner. NYC, Washington DC, Los Angeles, Charlotte, Houston, Detroit, Denver, and a bunch of smaller assignments elsewhere. What we both love about Florida compared to all the other places is the constant sunshine. Ive heard it called Kodachrome. The blues are so blue, the greens are so green. When I worked in Texas, everything was a shade of brown. NYC and Detroit, grey. The only place that rises near Florida is Colorado, or perhaps northern New Mexico.

We just made our first home cooked meal - breakfast sandwiches with chibata rolls toasted on the Weber Q. Small victory but a meaningful one for us. Progress in very small steps.

Peter

Know what you are talking about.

Since I was a kid... the palms over white beaches, sunsets, gigantic thunderheads at the horizon illuminated by flickering lightning, clear waters and on and on.

The USCG was kind enough to let me live (not visit) several places NJ to FL to AK and sightsee almost every inch of coastline between all those points at a gret viewing height. People asked me which was my favorite place to live and I always responded... "they all were great"...looking for the good, every place had merits and detractors. I never focused on the detractors.

When the kids grew up so all of a sudden, choosing a place to live became complicated. My solution(s) boats and RVs, no permanent place to hold me so I can enjoy the best of all states and visit family/friends at will.

But my heart still beats best in the area those dreams as a kid I had....the tropics but still in the USA. I am just the type to not risk a lot that can be flooded, blown down, shook to pieces, burnt to an ash, buried in mud/snow/rocks etc.... etc. so not owning a home is my answer. Don't like the weather? Travel. Don't like the neighbors? Move. Don't like anything...well the flexibility is great.

Everyone can like what they like, but weighting opinions to convince others seems SO typical these days from so many directions.

Enjoy what you have or resolve your displeasure....doesn't mean others have to follow your dreams or fears.

As far as insurance risks.... I just came back from a 3.5 month FL to Seattle and back RV trip. It's laughable to think there is many places in the USA that may never see mother nature's disasters. True there are REALLY bad places to build a home...and those people who chose to live in those areas should realize that and accept what may come. I realize that many aren't in positions to choose alternatives and my heart goes out to them...but in a world of grief, they are just a tiny part of all misery. Some people should never own a boat either, but we all help insure them. Beat life, don't let it beat you is the only answer.