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but by some estimates its
didn't have caused seventy billion dollars for the baggage
urgency
now
unfortunately no surprise here
but the insurance companies are trying every trick in the book to basically
weasel their way out
of paying for things that they're contractually obligated to pay for
now that's where did he sits a little bit deeper and a little bit murkier
but lets us dot and you would discuss basically what's going on yourself
there's plenty of people in new york in new jersey
that uh... pat
pertinent rights
bands
what cindy had we cover story just hiking
couple days after sandy
where we were talking about how these insurance companies
had hidden in the fine print
something called a a hurricane deductible
and offer some deductibles knowledge of normal deductible or tolerated is pretty
*** up you know how to get to a car accident they say all right guess who
were totally gonna cover it except that you have to cover the first like five
hundred thousand dollars
usn campaign you every month like a hundred thirty two hundred fifty bucks
and then something happens
why shouldn't you cover the whole thing
because you know how is that the contracts they tracked the contracts
to be as easily as humanly possible so they can cover
as little as humanly possible
and you know mayhew people pretty much as much of the tab
as as legally allowed now i understand that that's how for-profit business
works
and and i did not get you guys on the capitalist that talked about that
extensively
but the fact that there is
you contract with somebody to convert you for insurance
and they don't insure you when something happens
we have an issue was that let me stop inside fractured focused particularly on
what's going on with sandy
so we covered the hurting insurance and have a
the deductible for like five percent or ten percent dot
now if you're full house gets trashed
property value gopi jerseys pretty god in christ so you're looking at you know
five percent or ten percent of four hundred thousand dollars
also known as an amount of money people don't just happen where you're at
so it doesn't hurricane deductibles were good enough
with the insurance companies are doing that i was there
there
bringing together they're tremendous legal teams to try to find ways to not
pay out
the payments that they should pay out of the people whose houses got destroyed so
now they're argument is this
alway you guys all of that her teachers
but he doesn't think it was really the hurricane pursuing to structure a house
in one day
it was the flawed
so you can purchase hurricane insurance and flood insurance
so you know we're not going to pay you
now think about that at
think about that's like saying
well and i think you have flood insurance is well put your flood
insurance for the congress uh... fault
the flood level in twenty seven feet and three-and-a-half inches in yours was
uh...
his that's the less than that it would indicate commenter secular member of the
and he did
which is a way that these people will form no
one calls to work around
to not do what they were hired to do
is absolutely mind-boggling and i have never in my life
scene up there or give it
for
stayin independents their apartment this objective that is that it's a wall of
what second year
you know you you you need to any to cover this in good faith
let's call this thing
government