• Corkyskog
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    3 days ago

    Does insurance even pay out for “acts of terrorism”…?

    • Nougat@fedia.io
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      3 days ago

      Some interesting things came to my attention recently.

      One, there was a headline about the guy who got caught setting fire to Teslas at a dealership, saying that he had caused “$5 million in damage.” For setting a few things on fire? Really?

      Then, my HOA insurance policy renewal came across my desk (for the HOA, I’m on the board). I’m looking over all the details in the quote and I find some things about a federal program to insure against terrorism. This section explained how, in 2020, the requirement that the perpetrator be a “foreign agent” was dropped. Guess what wasn’t dropped: the requirement that the damage must be at least $5 million. There is a portion of the insurance premium that goes to pay for this program (its own insurance premium that’s handled through the insurance company). It’s $80/year.

      Ever wonder why they’re so keen on classifying these as terrorism? Sure, the authoritarianism is a big part of it, but the other part is that it lets them get paid more money, from the federal government. Call it terrorism, say there was more than $5M in damages, get paid.