IJ- 1.You failed to mention the $250 tax put on secondary homes IS NOT included in the 18% rate increase so really on a secondary home in an AE flood zone you can have a 60% increase. Must be that common core math crap being taught by libtards again.
2. The agents are not getting paid any comm on the $250.
Jack, some have advocated for Flood to be written by the private market. Do you think the P&C market is able to handle another Mississippi flood over several states? Personally, I think it would be difficult to do.
Agent, you raise a good point. Not sure you’ll get much of an answer out of Jack. His post seem to have an almost suicidal undertone and I’m afraid one day he won’t be with us.
Private markets will do what their best at. And that’s cherry pick the best risk at the correct rate level. That leaves FEMA with the remainder. Not sure that’s a great solution. Contrary to what the residents of Arizona might think, there are many lower value, less affluent homeowners living in flood zones that don’t have waterfront views. They may not be able to afford actuarially sound rates based on what the private market leaves for the FEMA pool. Jack’s solution would be to have them move to higher ground but that’s not realistic either.
SW, I think you might be more susceptible to Flood than anyone in Arizona. I think your reference to cherry picking by the private market ends up being adverse selection and NFIP will get the most susceptible properties to do. Hey, no problem. Raise our taxes again to overcome their losses.
2. I’m writing VE zone beach front properties in the private market already for half the price FEMA was charging them. The private market has chosen the highest risk where they can get the highest premium.
3. Why would I want them to move and not pay flood premiums when that’s how I make a living?
4. FEMA wouldn’t know actuarially sound rates if they were kicked in the teeth with them. FEMA IS GOVERNMENT. They are using premium-reserves to pay claims for people that didn’t even buy insurance. WELFARE!
5. FEMA- GOVERNMENT bought out damaged New Jersey homes after the flood at pre flood inflated prices. My taxes at work again.
April 2, 2015 at 8:55 am
Jack says:
Well-loved. Like or Dislike:
13
0
Agent- the private market could fix the problem but government regulation will not allow it. Government demands everything to be fair and their definition of fair is not the same as ours.
Jack O- Just because they call it a surcharge doesn’t change the fact it’s a tax. They decided to make the people that own a second home pay for the shortage of reserves they have to pay claims due to GOVERNMENT WASTE. They taxed the people they thought could afford it again. Then they have the nerve to say the tax shouldn’t be calculated in what the maximum percentage increase ended up being. Funny! So when I tell a client he only had an 18% increase but his payment is 60% higher I get to say that’s your GOVERNMENT FOR YA. LEAN FORWARD!
Jack, if I recall properly, Obama tried to sell “fine” under Obamacare if you didn’t buy it, but the Supreme Court said it was a tax. Everything Progressives do is all about taxes and how they can further milk the American people to advance the agenda and wastefully spend our tax dollars.
I am only commenting on this as I OWN JUST ONE home but, do not live there …i live with my boyfriend as can not afford my home anymore. NOW I do not have two homes..my flood insures just went up 43.7%; would be $477 with an increase this year NOW $694 for a house in the middle of town. ONLY a flood zone since Sandy (but, the street was not flooded)….$250 SURCHARGE vs $25. REALLY A LOT for the small home. WRONG….you can not a avoid a flood like a fire etc. maybe if living in the home.. just wrong. HORRIBLE..they got you by the balls as they say..
This is exactly why the government should not be in any business. Instead of running NFIP to at least break even, they run it to get votes. The rates have been insufficient since its inception and has encouraged building in unsafe coastal areas due to the subsidized, lower than actuarially justified rates. If flood insurance rates would have been allowed to be controlled by the private markets, they would have been higher (actuarially sound) and more building would have been further inland. Also, safer construction standards would have been developed earlier. Regardless, the taxpayers would not be on the hook for $20+ billion in debt.
Obama Approves Rhode Island Blizzard Disaster Declaration
See the above article on IJ. Did FEMA collect premiums to pay Rhode Island ? Nope, so stick it to people that pay flood insurance. LEAN FORWARD AMERICA!
I saw that Jack. Of course, Rhode Island is a Democratic stronghold so that is why they will reap the benefits. I wonder if Kerry will file for damages to his yacht he keeps there because he didn’t want to pay taxes in Massachusetts for it.
That’s old and outdated news Agent. Kerry agreed to pay his MA yacht taxes as far back as 5 years ago.
I agree he TRIED to avoid paying MA yacht taxes and only paid them for RI back in 2010, but it’s been nearly half a decade since that happened. That makes it old and outdated news, IMO.
So what Rosenblatt. He only agreed to pay when he got caught trying to avoid paying the substantial taxes. He is nothing but an elitist Progressive Democrat who is also stupid thinking that Iran will negotiate in good faith on the nukes. They are running circles around him and he doesn’t even know it. They will probably give him the Nobel Peace prize and meanwhile all the Arab states will be buying nukes to defend themselves against Iran.
“He only agreed to pay when he got caught trying to avoid paying the substantial taxes”
I agree 100%. I wasn’t saying your post was inaccurate – in fact, I already wrote that I had agreed with you. I was merely pointing out that the story is 5+ years old.
April 7, 2015 at 9:48 am
Agent says:
Like or Dislike:
7
0
Rosenblatt, you seem to think that Kerry trying to avoid paying his taxes 5 years ago is irrelevant to the discussion. I was pointing out that a rich Progressive Democrat like Lurch had no intention of paying the taxes until he was caught. These taxes were pocket change to him and his Ketchup queen wife. To them, taxes are what other people pay and they shouldn’t have to.
“I was pointing out that a rich Progressive Democrat like Lurch had no intention of paying the taxes until he was caught.”
I agree 100%. I wasn’t saying your post was irrelevant – in fact, I already wrote twice that I agreed with you. I was merely pointing out that the story is 5+ years old.
Hi! Thanks for sharing this information on different types of flood insurance. It is very important to not only be ready with the right kind of insurance, but to make sure the insurance plan is correct for your individual needs and situation. This goes for life, home, car and many other types of insurance as well. I think it’s always important to do the research needed to find the correct insurance plans for your situation and needs.
IJ- 1.You failed to mention the $250 tax put on secondary homes IS NOT included in the 18% rate increase so really on a secondary home in an AE flood zone you can have a 60% increase. Must be that common core math crap being taught by libtards again.
2. The agents are not getting paid any comm on the $250.
What a bunch of crap! LEAN FORWARD AMERICA
Jack, some have advocated for Flood to be written by the private market. Do you think the P&C market is able to handle another Mississippi flood over several states? Personally, I think it would be difficult to do.
Agent, you raise a good point. Not sure you’ll get much of an answer out of Jack. His post seem to have an almost suicidal undertone and I’m afraid one day he won’t be with us.
Private markets will do what their best at. And that’s cherry pick the best risk at the correct rate level. That leaves FEMA with the remainder. Not sure that’s a great solution. Contrary to what the residents of Arizona might think, there are many lower value, less affluent homeowners living in flood zones that don’t have waterfront views. They may not be able to afford actuarially sound rates based on what the private market leaves for the FEMA pool. Jack’s solution would be to have them move to higher ground but that’s not realistic either.
SW, I think you might be more susceptible to Flood than anyone in Arizona. I think your reference to cherry picking by the private market ends up being adverse selection and NFIP will get the most susceptible properties to do. Hey, no problem. Raise our taxes again to overcome their losses.
SWFL – wrong on so many points
1. Life is good! I’m a white 1 percenter.
2. I’m writing VE zone beach front properties in the private market already for half the price FEMA was charging them. The private market has chosen the highest risk where they can get the highest premium.
3. Why would I want them to move and not pay flood premiums when that’s how I make a living?
4. FEMA wouldn’t know actuarially sound rates if they were kicked in the teeth with them. FEMA IS GOVERNMENT. They are using premium-reserves to pay claims for people that didn’t even buy insurance. WELFARE!
5. FEMA- GOVERNMENT bought out damaged New Jersey homes after the flood at pre flood inflated prices. My taxes at work again.
Agent- the private market could fix the problem but government regulation will not allow it. Government demands everything to be fair and their definition of fair is not the same as ours.
It’s not a tax. You feel better having tax dollars subsidize coverage? Seems like that’s what you are advocating.
Jack O- Just because they call it a surcharge doesn’t change the fact it’s a tax. They decided to make the people that own a second home pay for the shortage of reserves they have to pay claims due to GOVERNMENT WASTE. They taxed the people they thought could afford it again. Then they have the nerve to say the tax shouldn’t be calculated in what the maximum percentage increase ended up being. Funny! So when I tell a client he only had an 18% increase but his payment is 60% higher I get to say that’s your GOVERNMENT FOR YA. LEAN FORWARD!
Jack, if I recall properly, Obama tried to sell “fine” under Obamacare if you didn’t buy it, but the Supreme Court said it was a tax. Everything Progressives do is all about taxes and how they can further milk the American people to advance the agenda and wastefully spend our tax dollars.
I am only commenting on this as I OWN JUST ONE home but, do not live there …i live with my boyfriend as can not afford my home anymore. NOW I do not have two homes..my flood insures just went up 43.7%; would be $477 with an increase this year NOW $694 for a house in the middle of town. ONLY a flood zone since Sandy (but, the street was not flooded)….$250 SURCHARGE vs $25. REALLY A LOT for the small home. WRONG….you can not a avoid a flood like a fire etc. maybe if living in the home.. just wrong. HORRIBLE..they got you by the balls as they say..
“what agents should know…” indicates that FEMA knows and is going to tell us. LOL !
Ever take their “Basic Agent Training”? There is a reason they don’t offer advanced agent training. Can’t find anyone qualified to teach it.
That you volunteer to provide some of that “advanced agent training”!
What do you want to know?
Nothing, I already know it. Nah, just being obtuse. Will get back to you with some questions.
This is exactly why the government should not be in any business. Instead of running NFIP to at least break even, they run it to get votes. The rates have been insufficient since its inception and has encouraged building in unsafe coastal areas due to the subsidized, lower than actuarially justified rates. If flood insurance rates would have been allowed to be controlled by the private markets, they would have been higher (actuarially sound) and more building would have been further inland. Also, safer construction standards would have been developed earlier. Regardless, the taxpayers would not be on the hook for $20+ billion in debt.
Obama Approves Rhode Island Blizzard Disaster Declaration
See the above article on IJ. Did FEMA collect premiums to pay Rhode Island ? Nope, so stick it to people that pay flood insurance. LEAN FORWARD AMERICA!
I saw that Jack. Of course, Rhode Island is a Democratic stronghold so that is why they will reap the benefits. I wonder if Kerry will file for damages to his yacht he keeps there because he didn’t want to pay taxes in Massachusetts for it.
That’s old and outdated news Agent. Kerry agreed to pay his MA yacht taxes as far back as 5 years ago.
I agree he TRIED to avoid paying MA yacht taxes and only paid them for RI back in 2010, but it’s been nearly half a decade since that happened. That makes it old and outdated news, IMO.
http://www.foxnews.com/politics/2010/07/27/kerry-agrees-pay-massachusetts-tax-yacht-docked-rhode-island/
So what Rosenblatt. He only agreed to pay when he got caught trying to avoid paying the substantial taxes. He is nothing but an elitist Progressive Democrat who is also stupid thinking that Iran will negotiate in good faith on the nukes. They are running circles around him and he doesn’t even know it. They will probably give him the Nobel Peace prize and meanwhile all the Arab states will be buying nukes to defend themselves against Iran.
“He only agreed to pay when he got caught trying to avoid paying the substantial taxes”
I agree 100%. I wasn’t saying your post was inaccurate – in fact, I already wrote that I had agreed with you. I was merely pointing out that the story is 5+ years old.
Rosenblatt, you seem to think that Kerry trying to avoid paying his taxes 5 years ago is irrelevant to the discussion. I was pointing out that a rich Progressive Democrat like Lurch had no intention of paying the taxes until he was caught. These taxes were pocket change to him and his Ketchup queen wife. To them, taxes are what other people pay and they shouldn’t have to.
“I was pointing out that a rich Progressive Democrat like Lurch had no intention of paying the taxes until he was caught.”
I agree 100%. I wasn’t saying your post was irrelevant – in fact, I already wrote twice that I agreed with you. I was merely pointing out that the story is 5+ years old.
Hi! Thanks for sharing this information on different types of flood insurance. It is very important to not only be ready with the right kind of insurance, but to make sure the insurance plan is correct for your individual needs and situation. This goes for life, home, car and many other types of insurance as well. I think it’s always important to do the research needed to find the correct insurance plans for your situation and needs.