Posted On: March 28, 2007, 8:11 am CDT

Posted By: Linda

Adjuster Joe, I don't know if you are new to the business or maybe you work for State Farm, but the whole purpose of insurance is to put you back in the position you were in before the loss. Not to make a profit or put you in a better position but to put you back to where you were. Why do you think policies have co-inusurance penalties for not insuring to at least 80% of replacement cost? The companies want you to be insured to replacement cost.

My point about coastal vs inland was there are flood prone areas in inland areas where there are lakes, rivers even ponds that when you have very heavy rain fall the water rises and you have flooding. It does not matter where you live you will always have the chance of flood occurring. It might take a hundred years but it will happen.

I agree the rates need to be adequate but the limits need to be increased because of inflation.

Our agency offers flood insurance to every client purchasing homeowners or commercial property. If they do not purchase we have a waiver signed. Even if they are not in a flood zone we offer the preferred program. If you do not purchase flood insurance, no matter where you live it is just foolish.

BTW, I hope you are not assigned to me in the event I have a claim.