Monkey See Monkey Do. These folks who dropped their insurance, for whatever reason, know that FEMA will bail them out and then raise the rates for those who do insure.
Make Flood Coverage part of the homeowners and charge accordingly. The homeowners coverage can be escrowed through your mortgage making it easier to pay for the coverage. We wouldn’t have the financial issues if everyone could afford the coverage.
I try to read at least one article about NFIP or FEMA every morning so I can start the day with a good laugh. It’s so entertaining to see the central planners trying to fix these idiotic collectivist scams. “Reform” them all you want; they are doomed to fail for one reason: they lack a free-market pricing mechanism, and therefore will never be able to allocate resources efficiently.
Monkey See Monkey Do. These folks who dropped their insurance, for whatever reason, know that FEMA will bail them out and then raise the rates for those who do insure.
Make Flood Coverage part of the homeowners and charge accordingly. The homeowners coverage can be escrowed through your mortgage making it easier to pay for the coverage. We wouldn’t have the financial issues if everyone could afford the coverage.
Your are so right, Mary Grace!
I try to read at least one article about NFIP or FEMA every morning so I can start the day with a good laugh. It’s so entertaining to see the central planners trying to fix these idiotic collectivist scams. “Reform” them all you want; they are doomed to fail for one reason: they lack a free-market pricing mechanism, and therefore will never be able to allocate resources efficiently.
Looks like there is a problem with irresponsible citizens here. Not a scam or pricing problem.