Posted On: March 28, 2007, 8:51 am CDT

Posted By: Linda

Are you saying that we should do away with flood insurance all together?

You were the one that said that the purpose of insurance was NOT to put you back to 100%. What do you think insurance is for then? Why in the world would anyone have insurance if not to put them back to where they were?

If co-insurance was all about collecting premium dollars, why then don't the insurance companies let you purchase any old amount and charge for it and do away with co-insurance? Because the average American would not be able to afford to repair or replace their property and the neighborhoods would look like hell. Take a look at Port Charlotte Fl where 2 years later they still have not finished rebuilding and some neighborhoods look like hell and the property values have declined. I am sure you would not like to live next door to a house that is not put back together and your property values decline because of it.

BTW, my CE credits are up to date.