Federal Judge in Mississippi 'Storm Surge' Case Upholds Home Insurance Flood Exclusion
National News • April 13, 2006
A federal judge in Mississippi has upheld the water damage exclusion in homeowners insurance policies in a ruling welcomed by insurers.
U.S. District Judge L.T. Senter, Jr. of the Southern ...
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Subject: QUESTION ON FLOOD
Posted On: April 17, 2006, 7:07 pm CDT
Posted By: Hal
Comment:
I have a question on flood insurance.
A man called me today about flood insurance. The new flood map (in a city in north Texas) shows his house is in a 100 year flood zone. He's lived in this house for 45 years. The reason for the flood dynamic is new construction upstream and down stream of his house. Rates of drainage have changed.
I quoted flood full replacement cost and contents coverage for his home. He understands the reasons for the changes.
Coverage he wants is actual cash value on the house to meet his finance (re-finance) requirement and no contents coverage. How do I get him to do the coverage he really needs?
SHOULD I :
1. Beat him into submission with a stick?
2. Tell his loan company to call in the loan?
3. Call a federal marshall?
4. Have him sign an acknowledgement that his choice of coverage won't buy him a new front door?
5. Tell him he's foolish and not let him buy coverage from me?
Subject: QUESTION ON FLOOD
A man called me today about flood insurance. The new flood map (in a city in north Texas) shows his house is in a 100 year flood zone. He's lived in this house for 45 years. The reason for the flood dynamic is new construction upstream and down stream of his house. Rates of drainage have changed.
I quoted flood full replacement cost and contents coverage for his home. He understands the reasons for the changes.
Coverage he wants is actual cash value on the house to meet his finance (re-finance) requirement and no contents coverage. How do I get him to do the coverage he really needs?
SHOULD I :
1. Beat him into submission with a stick?
2. Tell his loan company to call in the loan?
3. Call a federal marshall?
4. Have him sign an acknowledgement that his choice of coverage won't buy him a new front door?
5. Tell him he's foolish and not let him buy coverage from me?