Obama proposing mandatory homeowner, renters and car insurance program just like Obamacare, called Obamatection

Last week it was reported that a homeowner was billed $20,000 by Rural Metro for a fire response. Over the past few years subscription fire departments all over the country have been accused of allow homes to burn, for people without a subscription to their service. So this morning to a mostly empty pressroom at the White House President Obama quietly announce his intention to enact a bill forcing all citizens to have property and car insurance coverage.

“Today with great pleasure I announce the Affordable Property Protection for America Act. For too long we have seen the suffering of people who were uninsured or underinsured after some disaster. Be it a tornado, a single structure fire, or car crash with injuries, no one should have to shoulder the burden of rebuilding and replacing.”

Much like the Affordable Health Care for America Act has been dubbed Obamacare. This new property protection act has been dubbed Obamatection.

Later in his speech president Obama stated “Far too many Americans lose their homes to floods each year and are unable to obtain flood coverage due to living in a flood plain. Every summer whole neighborhoods near to woodlands are wiped out by forest fires, these homeowners sometimes find themselves uncovered by insurance due to fine print in the policy that will not cover wildland fire.”

The presidents proposal would mirror the Obamacare plan. Employers will now be required to offer property insurance as part of full time benefits packages. In addition people will have the option of searching a online insurance marketplace, if they do not qualify for their workplace plan or if they want to upgrade their plan.

Some other key points of Obamatection will be

-Insurance cannot deny coverage based on location of the property
– Car insurance rates cannot be based on past driving history, race, age or gender
– Removal of fine print, either it is covered or not, no loopholes so insurance gets out of paying a claim
– Subsidies to help low and middle income individuals pay insurance
– A requirement for all Americans to carry property insurance or face a fine for non-compliance

In closing his speech today Obama said, “Just as with the Affordable Health Care for America Act, we are not forcing anyone into a new insurance plan. If you like your agent and like your plan you can keep it. But you do need to ask yourself does my plan cover my property for every eventuality? If not it might be time to shop around the new marketplace.”

The president did not take any questions from reporters and quickly left the pressroom after his speech.