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Flood Insurance Reform Stalls in Congress
National News • August 28, 2007
Despite promising changes, Congress has shown little enthusiasm for taking the unpopular steps that experts say are necessary to fix the nation's main flood insurance program.
Recent flooding in ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: RE: Mid-west Flooding & Non-SFHAs -PRP Policies | RAL | Sep 4, 2007, 3:27 pm |
| RE: RE: Mid-west Flooding & Non-SFHAs -PRP Policies | Mark | Sep 4, 2007, 11:27 am |
| RE: RE: Himself rash? Toilet? Ashamed? Unthinking? | Gill Fin | Sep 4, 2007, 3:42 am |
| RE: Mid-west Flooding & Non-SFHAs -PRP Policies | Midwesterner | Aug 29, 2007, 12:49 pm |
| RE: Mid-west Flooding & Non-SFHAs -PRP Policies | RAL | Aug 29, 2007, 9:32 am |
| Mid-west Flooding & Non-SFHAs -PRP Policies | Fla. Agent | Aug 29, 2007, 9:26 am |
| RE: Himself rash? Toilet? Ashamed? Unthinking? | RAL | Aug 29, 2007, 8:52 am |
| Himself rash? Toilet? Ashamed? Unthinking? | Gill Fin | Aug 29, 2007, 12:58 am |
| RE: RE: RE: Flood issues | RAL | Aug 28, 2007, 2:45 pm |
| RE: Congress will do nothing | himself | Aug 28, 2007, 2:12 pm |
| Congress will do nothing | Key West agent | Aug 28, 2007, 2:05 pm |
| RE: RE: RE: Beach Front Properties | Retro Man | Aug 28, 2007, 2:01 pm |
| RE: RE: Beach Front Properties | Bob | Aug 28, 2007, 1:54 pm |
| RE: Congress Do Something? | Stealth Agent | Aug 28, 2007, 1:39 pm |
| RE: RE: Flood issues | The Ultimate of Ultimates | Aug 28, 2007, 1:29 pm |
| RE: Beach Front Properties | Retro Man | Aug 28, 2007, 1:27 pm |
| RE: RE: Flood issues | News & Voting | Aug 28, 2007, 1:26 pm |
| RE: Congress Do Something? | Promises, Promises | Aug 28, 2007, 1:22 pm |
| RE: Flood issues | himself | Aug 28, 2007, 1:21 pm |
| Flood issues | Observer | Aug 28, 2007, 1:14 pm |
| Beach Front Properties | Bob | Aug 28, 2007, 1:09 pm |
| Congress Do Something? | CA Agent | Aug 28, 2007, 1:08 pm |
| Back to article | ||
Subject: Mid-west Flooding & Non-SFHAs -PRP Policies
I'd be willing to hazard (no pun intended) a guess, that the vast majority of people flooded in the mid-west are in Low to Moderate Risk flood zones. Historically, 25 to 30% of all flooding occurs in these low risk areas.
Compare the cost of the Preferred Risk Policy to that of the Standard Flood Insurance Policy (SFIP) for the same limits in these low to moderate risk zones, and the savings is substantial.
Problem is, most mortgage companies will not escrow for flood premiums unless the coverage is manditory. So for Joe Average, paying the lumpsum premium rather than spreading it out through their mortgage payments, leads to a number of policies lapsing after a few years of no flood occurrances.
All of the country is a flood zone, and agents will serve their customers (and themselves) well by offering the coverage.