Riot Damage effects Insurance Industry

What has the riot cost the American People?

 

In just about every major city over the course of the last two years there have been riots in the streets brought on by Black Lives Matter protesters that have cost the American people over 5 billion dollars due to vandalism and looting, plus inconvenience, aggravation and fear.  So, who in the long run will pay the price of these protestors, the American people through their insurance payments for car, homeowners, rental and business insurance premiums? Personally, I have already seen it in my car insurance bill where it went up $200 causing me financial hardship because I didn’t budget for such an increase, and I’ve never had an accident in my life.

These riots have also cost the cities to which they were held in not only vandalism and looting but also damage to their travel and tourism industry because who wants to visit a city that has such violence happening in their streets.

Real Estate market has suffered in these cities too because who wants to buy an apartment, home or business entity which individuals in the streets looking to cause serious property damage.

The protesters acted like animals destroying everything in their path. Setting fire to cars, especially cop cars that cost the city upwards of $250,000 each vehicle due to the specialized hardware inside that cop’s use each day to fight crime and stay connected to their precincts for communications. Small business owners have been destroyed, some never to open their doors again because they don’t have the capital to repair what was destroyed, restock what was stolen, and rehire those who fled the business out of fear. Basically, they were put out of business by a load of criminals, yet many prosecutors are not willing to prosecute the guilty for fear of repercussions in prosecuting a bunch of black folks for acting like animals and causing such destruction within their city.

Back years ago, during the Rodney King riots in Los Angeles, the insured losses were over $775 Million dollars, but that was in one city, not multiple ones. Today’s riots, vandalism and looting is happening all over the country due to someone paying rioters and bussing them into certain cities to cause havoc in the streets. There are suspects as to who that person or business might be, but without proof, I will not state the obvious. Just know that unless, We the People stand up, and raise hell about this stupidity, we are going to be charged with the financial loss of say the losses in Portland Oregon, because their mayor and Governor doesn’t have the balls to send in the Marines to shut down the riots. The same goes with other major cities being hit by these animals. I call them animals because that’s what they are. They aren’t angry groups of citizens; they are pure animals whose parents should be held accountable for not teaching them manners or civil obedience when out in public. Martin Luther King is rolling over in his grave for giving his life for the Civil rights Movement for the Black community only to have Blacks act like such animals in what is supposed to be a protect against use of force against one of their own. These protests have nothing to do with use of force against one of their own by Police, these protests are politically organized and promoted to divide this country and cause havoc. So, who will pay in the long run – YOU will, in more ways than one? And, guess what even the black community will pay for their own folly, when they have to pay higher premiums for insurance next time their renewal is due. Go figure right, how dare the insurance company recoup what was lost and charge them. Someone has to pay for the folly after all.

10-1 says, the insurance industry is going to change the rules for future insurance coverage, after paying out these losses, just wait and see. They will insert a clause that states they will “not pay out losses due to riots, vandalism, or looting due to political rioting in the streets,” just as they did after a few natural disasters that occurred at the same time across the country where they inserted “will not pay out due to acts of God disasters, such as floods, hurricanes, tornadoes, and will not be indemnified by said acts of God.” Unless you pay a higher premium for such coverage will be the last word from the insurance companies. It’s all about the money after all, right.  

In addition, once the dust settles, mark my words, someone will swoop into each city and buy up all the low-priced real estate, pennies on the dollar rates, for all the properties that are put up for sale by business owners who can’t afford to reopen and are forced to sell. The homes in the area that are put up for sale because the homeowners are afraid to live in the city any longer. I have suspects who will buy up these properties, do you? Let’s see who’s right in this guessing game?

 

Author Elizabeth Kilbride is a former political operative, author, scriptwriter, historian, journalist. business professional, and creative artist, and life coach consultant. Ms. Kilbride holds a Masters in Criminology and a BS in Business Management who stepped out of the loop for a while, but who is now back with a powerful opinion and voice in the direction of this country and our economy. As a life coach, she is available to counsel individuals to enjoy their dreams and a better life. Ms. Kilbride loves to travel, photograph her surroundings and is also a gourmet cook who loves to garden and preserve food for the winter months.