Posted On: October 1, 2007, 11:34 am CDT

Posted By: tinkerbell

Tom, you raise some interesting issues. However, not all people who own homes where wind coverage is prohibitively priced live on or near the beach. There are many, many homes up & down the east coast that are not on the beach where the premium is not affordable or the coverage is not available & people are going without. This is also true in the states of FL & NJ & NY, etal...again all up & down the east coast. I don't sympathize with those who buy homes on the beach & then cannot afford the premiums. I'm targeting the other group.

As for those who live in flood prone areas and don't buy flood insurance, they may not have been able to afford it either. Many of the Katrina victims lived in impoverished areas...eking by on a meager existence in homes that they put together themselves or inherited from their parents. The last thing they think about is flood insurance when they are trying to figure out where the next meal is coming from.
There are no easy answers. The wind problem has not reached critical mass yet. However, given the insurance reform measure recently passed by the House, we are on our way to a federal wind program. I know most people take issue with this solution, there are many of who feel that something must be done.
If a federal involvement is not the ideal answer, what is?