According to Insurance Journal, 75 percent of US businesses are under-insured. And according to the New York Times, about 40 percent of small businesses have no insurance at all.
(Summary) Four points that show how callous the idea that insurance “makes rioting, looting and arson OK”.
1. Riots Take a Human Toll No Insurance Plan Can Account For
Fifteen dead from direct effects in the George Floyd riots. When an entire business district is burned out, when do the residents shop for necessaries? Especially the elders and the poor without vehicles.
2. Not All Affected Small Businesses Have Insurance That Covers Rioting and Looting Damage
Is your house insured? So you won’t mind burning it down, would you? What if your house isn’t insured? Do you have health insurance? Yes? Then you don’t mind if I punch you in the nose do you?
3. Insurance Doesn’t Solve the Problem
Even for those many businesses that do have insurance covering rioting damage, it’s still a massive burden to have your businesses destroyed.
How do the business owners earn a living while waiting for insurance to pay and while waiting for overwhelmed construction companies to get to them?
When the damage goes over policy limits (demolition costs in Minneapolis averaged 100K, policy limits were typically 25k to 50K) where does that money come from?
4. Insurance Rates Will Spike and Hurt the Impacted Communities’ Economic Future
Many communities never recover from major rioting and arson. Watts never did, or Ferguson, nor is it likely Minneapolis will ever be the same. New York City is emptying out like a broken bottle.
The Watts riots were local, and those locals at least suffered afterward from the consequences of their actions. But most of the rioters and arsonists this time around are being bused in, they don’t live in the communities they destroy.
Can we send the bill to Soros? In fact here is a great idea! Lets deduct the living and rebuilding expenses for the real victims of the destruction from the Welfare and IBT accounts of every parasite in the effected cities. If they have to sell the looted merch to live on…
… works for me.