It is about time to have appropriate rates for properties in flood prone areas. Time to stop subsidizing people who like to have their vacation homes covered by the taxpayer. If they can afford to have these homes, they can afford the higher premiums for flood insurance.
Unfortunately, this is the type of inaccurate information that confuses everyone. Everyone lives in a flood zone, it just depends if it is high or low to moderate risk zone. The vast majority of subsidized properties are not vacation homes and they are not all coastal. The false sense of security that one doesn’t live near a body of water therefore they don’t need flood insurance is huge part of this problem.
I think that most homeowners realize that rising waters/flood are not covered under their policies. When we talk about Flood and quote it, they think it is too high. The weak economy and lack of money to spend on insurance will keep many from buying it and it will only increase in the near term.
The government has NO business in the insurance business of any kind. This program has cost all taxpayers from the very beginning. If a property is in a flood zone and the owner wants it insured,the the owner should pay for it at market rates from private insurance companies that wish to underewrite it. All of these “for the public good” programs are weakly discuised socialist programs to redistribute income!!! Let’s get the government out of the private sector and the national debt will be substqntiaolly reduced!
But Richard, didn’t you know that Maxine Waters thinks this is such a wonderful program she got it re-authorized. I wonder what ever happened to her corruption trial in the House. She was supposed to be right after Charlie Rangel.
It is about time to have appropriate rates for properties in flood prone areas. Time to stop subsidizing people who like to have their vacation homes covered by the taxpayer. If they can afford to have these homes, they can afford the higher premiums for flood insurance.
Unfortunately, this is the type of inaccurate information that confuses everyone. Everyone lives in a flood zone, it just depends if it is high or low to moderate risk zone. The vast majority of subsidized properties are not vacation homes and they are not all coastal. The false sense of security that one doesn’t live near a body of water therefore they don’t need flood insurance is huge part of this problem.
Agent: To be included in the “subsidized” rate discussion are the many Pre-FIRM structures in the program, as well as repetitive loss properties.
I think that most homeowners realize that rising waters/flood are not covered under their policies. When we talk about Flood and quote it, they think it is too high. The weak economy and lack of money to spend on insurance will keep many from buying it and it will only increase in the near term.
The government has NO business in the insurance business of any kind. This program has cost all taxpayers from the very beginning. If a property is in a flood zone and the owner wants it insured,the the owner should pay for it at market rates from private insurance companies that wish to underewrite it. All of these “for the public good” programs are weakly discuised socialist programs to redistribute income!!! Let’s get the government out of the private sector and the national debt will be substqntiaolly reduced!
But Richard, didn’t you know that Maxine Waters thinks this is such a wonderful program she got it re-authorized. I wonder what ever happened to her corruption trial in the House. She was supposed to be right after Charlie Rangel.