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: RE: QUESTION ON FLOOD - Questions...
Posted On: April 19, 2006, 12:19 pm CDT
Posted By: Roger Poe
Comment:
4-19-2006
Hal,
You stated;
"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?"
__________
The question / issue:
'How do I get him to do the coverage he really needs?'
Answer: Maybe his personal finances are such that what you think he need's, and what he may know he needs, are at odds with each other.
For your other questions:
1. Beat him into submission with a stick?
No. Even if you are properly insured.
2. Tell his loan company to call in the loan?
No. You might be giving them wrong info.
3. Call a federal marshall?
No. They don't provide that kind of service. Yet.
4. Have him sign an acknowledgement that his choice of coverage won't buy him a new front door?
No. No, wait...maybe yes.
5. Tell him he's foolish and not let him buy coverage from me?"
No, and Yes.
rogerpoegc@yahoo.com
Subject: RE: QUESTION ON FLOOD - Questions...
Hal,
You stated;
"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?"
__________
The question / issue:
'How do I get him to do the coverage he really needs?'
Answer: Maybe his personal finances are such that what you think he need's, and what he may know he needs, are at odds with each other.
For your other questions:
1. Beat him into submission with a stick?
No. Even if you are properly insured.
2. Tell his loan company to call in the loan?
No. You might be giving them wrong info.
3. Call a federal marshall?
No. They don't provide that kind of service. Yet.
4. Have him sign an acknowledgement that his choice of coverage won't buy him a new front door?
No. No, wait...maybe yes.
5. Tell him he's foolish and not let him buy coverage from me?"
No, and Yes.
rogerpoegc@yahoo.com