Ok, anyone who can read a newspaper should have known about the need for flood coverage in a coastal area. Ivan, Katrina and Rita gave ample opportunity to Gulf Coast residents to take out flood coverage.
If you didn’t, you took the gamble and lost. Don’t cry us a river, it might cause a flood!!!
Winslow is grandstanding. Surly he knows of the hundreds of court cases in LA and MS regarding this. The courts, both in LA and MS AND the federal courts have repeatedly sided with the insurance industry.
It’s case law. Someone needs to tell him that and shut him up now.
Another ploy to not have to pay what’s owed to the policy holder.
We have to band together and get the insurance companies out of the politicians pockets.What is the sense of carrying insurance if everytime you try to make a claim they deny or find a technicality to deny our claims!
My feeling is you shouldn;t have to buy insurance period.It’s a better money maker than playing the lottery.If you loose you lose.I mean the government has to pay everything anyway so why carry insurance?
Pud: $5 says you don’t carry flood insurance, and when you are flooded, you’ll be first in line for a taxpayor bailout.
I agree 100% with the first two posts, if the idiots who live on a barrier island six feet above sea level, after witnessing what took place with Katrina, didn’t purchase flood coverage, then I see their inaction a sterling affirmation of Darwin’s theory of evolution.
To be honest with you.You are correct and to tell you the truth the extra money my home is approximately 3ft off the groung and inland far enough where flodding is likely a fat chance a risk I am I am taking and yes you are correct why pay premiums when the government will bail me out.I mean it’s about time for me to start taking advantage just as the wealthy do.Im sick and tired of hearing how the government comes in and covers what insurance companies don’t so if you can’t beat them join them!
I checked into flood coverage and it just wasn’t worth the extra money.
Ten years of the cost of flood ins.could purchase me a new home!
I can use my property as collateral!
I agree with Pud, although I think Pud has researched it more than me. Where I am from FEMA gave those without flood coverage about a months worth of living expenses, and the opportunity to get a
small business loan through the government at a low interest rate. But for Pud, better to self insure. That way when his home is destroyed he’ll never have to worry about being a homeowner again. He’ll be a renter. What do you think about that renters insurance, Pud?
Oh yeah, you’re insurance poor.
When I did rent I always kept insurance and made sure to exceed the coverage needed in the event a loss occured and it was my fault. I’m not insurance poor I just don’t care to see insurance companies make bad decisions,their CEO’s and CFO’s and any other acronym for a dingaling position and make millions then claim the business needs to increase premiums to meet their expense needs or they get help from the government when they have large losses or make bad investments.
Remember the 80’s? Realestate took a similar tumble? Who paid for that? The tax payer.The average Joe is the one that was hit the hardest.
I consider your comparing me with Darwin a compliment of sorts after all wealth breeds wealth normally!
Aaaanyway,say what you will you’re entitled to that I am also entitled to voice my opinion.
BTW renting is like facing a hurricane and relieving yourself into the oncoming wind.I would never rent again.That is for irresponsible people that do not know how to contol their spending habits or they do not priortize their spending.I wasted a lot of money when I was younger on renting,a lesson learned the hard way,
Agreed.You made the point exactly! I happen to not live in an flood area so I don;t ned flood.IF at some point the unfortunate crap shoot that I have chosen to take occurs and is in the form of catstrophic nature then FEMA steps in and pays.This is unique to my situation.It’s not for everyone.If you live close to water weather it be fresh or ocean obviously one would want to certainly purchase flood insurance.
I think that I my comment initially may have been misinterpreted.
You argue that the insurance companies are not paying what you, the insured expect to be paid. The concept involved here is buyer-beware. If you would read the details of your homeowners policy it will tell you that almost all water related damage is excluded. If you want to have that kind of risk insured you must buy a flood policy. Do not attempt to paint insurers in a bad light because they stand by the words of the contract you both agreed to when the policy was issued.
And who is so secluded from the world that they did not hear about this when Katrina blew through? If you want to be covered for storm surge, buy a policy from NFIP. Don’t expect it from your normal homeowner’s policy. End of Story.
Oh Mr Obvious.I have over 25 years in the business so don’t preach to me.
You do not receive a copy of this online magazine if your not invovled in insurance and your information is the basic essentials of the business.
I’ve always said a policy states what it doesn;t cover the declarations page tells you what’s covered!
So Pud has 25 years of insurance experience, but expects water to be paid on a wind policy? Pud, what have you been doing the last 25 years if you expect that outcome? With all due respect, Mr Obvious, our business isn’t ‘buyer beware’. Our business is ‘buyer, understand what you purchased and why’. We sell insurance based on a person’s need. We try to identify what they need, and provide accordingly. If they tell us they don’t need it, we cannot force them to buy it. THE CONTRACT IS THE CONTRACT!!!! No more, no less. Its neither good or bad – it is what it is. Quit bellyaching that you find out at claim time its not what you want. Remember, its all voluntary.
Buy it. Don’t buy it. Thats called freedom of choice. Freedom of choice includes the possibility that you choose wrong. I am OK with that, for you and me. We both get what we pay for. An inherently perfect arrangement.
Pud wrote: Another ploy to not have to pay what’s owed to the policy holder.
We have to band together and get the insurance companies out of the politicians pockets.What is the sense of carrying insurance if everytime you try to make a claim they deny or find a technicality to deny our claims!
My feeling is you shouldn;t have to buy insurance period.It’s a better money maker than playing the lottery.If you loose you lose.I mean the government has to pay everything anyway so why carry insurance?
You must represent some pretty pitiful companies to have the additude that you do towards the business. Another $5 says you’re a direct writer.
As for your self-insuring on flood, I can only assume one of two things: 1) You have no mortgage and live in a Special Flood Hazard Area, ergo your remark about how expensive it is, or 2) You have a mortgage and live in a Non-SFHA and are uninformed about the Preferred Risk Policy, where the mosy you’d pay for the maximum limits under the NFIP is $348.
May I make one recomendation: Do your clients and your E&O carrier a favor, take a flood class.
Consumers buy a complex product (Insurance) from an agent that should know better than the consumer what they need. The consumer is transfering risk, not buying an investment that guarantees a return. If you need insurance for a particular hazard and it is availabe, then buy it. If not, be prepared for the outcome. No insurance carrier (except maybe the government) will insure against all forms of risk.
From the inception of my 25 years in the business, it has been abundantly clear that flood of any type is not covered under a Homeowners policy. Buy from a knowlegeable agent and then be man or woman enough to accept the fact that if you reject coverage and have a loss that you made the choice.
I think you are having trouble reading. The water that IS covered is called “Wind-driven rain” and NOT “Wind-driven water”.
Also, the damagig water from a hurricane is STORM SURGE, not waves caused by wind. An example is that the city of Cameron, LA had 12′ of water with hardly any wind around 48 hours before the hurricane was due South of the city. So much for “wind-driven water”.
Well…here is where the problem. The insurance carrier for windstorm is saying hey will not pay because a storm surge is a flood. The flood insurance will not pay because they claim the storm surge is water rising due to the wind of the hurricane. So, who has to pay me for my total loss if I have both insurances and neither claim responsibility? Will I now be forced to obtain Storm surge coverage?
As storm surge is a geological phenomenon precipitated by a hurricane. A hurricane is wind. The wind pushes the water in from of it and it causes a storm surge. Therefore, the storm surge is water rising due to wind. WIND DRIVEN WATER.
One other question…how many times have you seen the beach flood? Lakes, rivers and creeks flood. Not beaches. The beach erodes. Could this be a massive overnight erosion of the beach? I think not.
First off…renters insurance only pays for the belongings you have in your home if someone breaks in and steals it or you are vandalized. It does not cover your losses if you have total devastation to your home and lose everything.
Secondly, some people rent because they choose to. Maybe they work jobs that force them to move every few years. Or maybe they are in the military and have no choice to buy because they may be shipped out at a moments notice. Not everyone rents because of poor choices made in life.
As the market stands right now, the value of a home is plummeting due to poor choices of the the mortgage companies. So, some renters are better off than some homeowners. I for one, have owned my home for 15 yrs and have recently remodeled hoping to sell. The value has dropped and I am planning on staying right where I am. Unless selling and renting a place proves to be ore fruitful in the long run. Not because I have made poor decisions.
To Ronnie Sonnier:
So now the storm surge is not caused by wind and the wind driven water is not water. It is hard to believe how mother nature is changing. Or is it corrupted politics? It’s like saying that Oswald did not kill Kennedy, it was the bullet.
Thanks,
Based on what I’ve been reading it will likely end up in front of an arbitration panel and both will cover a portion of the loss.Don;t waste time file arbitration!
Effective 2/1/2009 Texas Windstorm Insurance Association rates are increasing for new and renewal policies, as follows:
+15.6% for All Commercial rates, to include Farm and Ranch adn all Builders Risk policies
+12.3% for All Residential dwelling premiums
Important Note:
*Renewal notices with renewal dates of February 1st or later will include the new rates. Renewal coverage will not be bound without a copy of the renewal notice and a check for the full new premium submitted to the TWIA along with any other required documents.
*New applications previously generated with effective dates on or after 2/1/2009 should be recalculated.
For the latest up to date info contact Clinton D. Richey at (800)-776-0633 or visit our website @ http://www.txwindstorminsurance.com. Free Quotes and Info available.
Sorry Mr Pud. I only have bragging rights in the great state of Texas. Also, i have changed my website to be more reflective of my services. I now can be found at http://www.texascoastalinsurance.com
Ok, anyone who can read a newspaper should have known about the need for flood coverage in a coastal area. Ivan, Katrina and Rita gave ample opportunity to Gulf Coast residents to take out flood coverage.
If you didn’t, you took the gamble and lost. Don’t cry us a river, it might cause a flood!!!
Winslow is grandstanding. Surly he knows of the hundreds of court cases in LA and MS regarding this. The courts, both in LA and MS AND the federal courts have repeatedly sided with the insurance industry.
It’s case law. Someone needs to tell him that and shut him up now.
Another ploy to not have to pay what’s owed to the policy holder.
We have to band together and get the insurance companies out of the politicians pockets.What is the sense of carrying insurance if everytime you try to make a claim they deny or find a technicality to deny our claims!
My feeling is you shouldn;t have to buy insurance period.It’s a better money maker than playing the lottery.If you loose you lose.I mean the government has to pay everything anyway so why carry insurance?
Pud: $5 says you don’t carry flood insurance, and when you are flooded, you’ll be first in line for a taxpayor bailout.
I agree 100% with the first two posts, if the idiots who live on a barrier island six feet above sea level, after witnessing what took place with Katrina, didn’t purchase flood coverage, then I see their inaction a sterling affirmation of Darwin’s theory of evolution.
To be honest with you.You are correct and to tell you the truth the extra money my home is approximately 3ft off the groung and inland far enough where flodding is likely a fat chance a risk I am I am taking and yes you are correct why pay premiums when the government will bail me out.I mean it’s about time for me to start taking advantage just as the wealthy do.Im sick and tired of hearing how the government comes in and covers what insurance companies don’t so if you can’t beat them join them!
I checked into flood coverage and it just wasn’t worth the extra money.
Ten years of the cost of flood ins.could purchase me a new home!
I can use my property as collateral!
Sorry for the typos.I tend to be all thumbs at times!
I agree with Pud, although I think Pud has researched it more than me. Where I am from FEMA gave those without flood coverage about a months worth of living expenses, and the opportunity to get a
small business loan through the government at a low interest rate. But for Pud, better to self insure. That way when his home is destroyed he’ll never have to worry about being a homeowner again. He’ll be a renter. What do you think about that renters insurance, Pud?
Oh yeah, you’re insurance poor.
When I did rent I always kept insurance and made sure to exceed the coverage needed in the event a loss occured and it was my fault. I’m not insurance poor I just don’t care to see insurance companies make bad decisions,their CEO’s and CFO’s and any other acronym for a dingaling position and make millions then claim the business needs to increase premiums to meet their expense needs or they get help from the government when they have large losses or make bad investments.
Remember the 80’s? Realestate took a similar tumble? Who paid for that? The tax payer.The average Joe is the one that was hit the hardest.
I consider your comparing me with Darwin a compliment of sorts after all wealth breeds wealth normally!
Aaaanyway,say what you will you’re entitled to that I am also entitled to voice my opinion.
BTW renting is like facing a hurricane and relieving yourself into the oncoming wind.I would never rent again.That is for irresponsible people that do not know how to contol their spending habits or they do not priortize their spending.I wasted a lot of money when I was younger on renting,a lesson learned the hard way,
Good day!
Agreed.You made the point exactly! I happen to not live in an flood area so I don;t ned flood.IF at some point the unfortunate crap shoot that I have chosen to take occurs and is in the form of catstrophic nature then FEMA steps in and pays.This is unique to my situation.It’s not for everyone.If you live close to water weather it be fresh or ocean obviously one would want to certainly purchase flood insurance.
I think that I my comment initially may have been misinterpreted.
Pud,
You argue that the insurance companies are not paying what you, the insured expect to be paid. The concept involved here is buyer-beware. If you would read the details of your homeowners policy it will tell you that almost all water related damage is excluded. If you want to have that kind of risk insured you must buy a flood policy. Do not attempt to paint insurers in a bad light because they stand by the words of the contract you both agreed to when the policy was issued.
And who is so secluded from the world that they did not hear about this when Katrina blew through? If you want to be covered for storm surge, buy a policy from NFIP. Don’t expect it from your normal homeowner’s policy. End of Story.
Oh Mr Obvious.I have over 25 years in the business so don’t preach to me.
You do not receive a copy of this online magazine if your not invovled in insurance and your information is the basic essentials of the business.
I’ve always said a policy states what it doesn;t cover the declarations page tells you what’s covered!
So Pud has 25 years of insurance experience, but expects water to be paid on a wind policy? Pud, what have you been doing the last 25 years if you expect that outcome? With all due respect, Mr Obvious, our business isn’t ‘buyer beware’. Our business is ‘buyer, understand what you purchased and why’. We sell insurance based on a person’s need. We try to identify what they need, and provide accordingly. If they tell us they don’t need it, we cannot force them to buy it. THE CONTRACT IS THE CONTRACT!!!! No more, no less. Its neither good or bad – it is what it is. Quit bellyaching that you find out at claim time its not what you want. Remember, its all voluntary.
Buy it. Don’t buy it. Thats called freedom of choice. Freedom of choice includes the possibility that you choose wrong. I am OK with that, for you and me. We both get what we pay for. An inherently perfect arrangement.
Pud wrote: Another ploy to not have to pay what’s owed to the policy holder.
We have to band together and get the insurance companies out of the politicians pockets.What is the sense of carrying insurance if everytime you try to make a claim they deny or find a technicality to deny our claims!
My feeling is you shouldn;t have to buy insurance period.It’s a better money maker than playing the lottery.If you loose you lose.I mean the government has to pay everything anyway so why carry insurance?
Pud,
You must represent some pretty pitiful companies to have the additude that you do towards the business. Another $5 says you’re a direct writer.
As for your self-insuring on flood, I can only assume one of two things: 1) You have no mortgage and live in a Special Flood Hazard Area, ergo your remark about how expensive it is, or 2) You have a mortgage and live in a Non-SFHA and are uninformed about the Preferred Risk Policy, where the mosy you’d pay for the maximum limits under the NFIP is $348.
May I make one recomendation: Do your clients and your E&O carrier a favor, take a flood class.
That’s aTTitude with a “T”…….
Consumers buy a complex product (Insurance) from an agent that should know better than the consumer what they need. The consumer is transfering risk, not buying an investment that guarantees a return. If you need insurance for a particular hazard and it is availabe, then buy it. If not, be prepared for the outcome. No insurance carrier (except maybe the government) will insure against all forms of risk.
From the inception of my 25 years in the business, it has been abundantly clear that flood of any type is not covered under a Homeowners policy. Buy from a knowlegeable agent and then be man or woman enough to accept the fact that if you reject coverage and have a loss that you made the choice.
I think you are having trouble reading. The water that IS covered is called “Wind-driven rain” and NOT “Wind-driven water”.
Also, the damagig water from a hurricane is STORM SURGE, not waves caused by wind. An example is that the city of Cameron, LA had 12′ of water with hardly any wind around 48 hours before the hurricane was due South of the city. So much for “wind-driven water”.
Well…here is where the problem. The insurance carrier for windstorm is saying hey will not pay because a storm surge is a flood. The flood insurance will not pay because they claim the storm surge is water rising due to the wind of the hurricane. So, who has to pay me for my total loss if I have both insurances and neither claim responsibility? Will I now be forced to obtain Storm surge coverage?
As storm surge is a geological phenomenon precipitated by a hurricane. A hurricane is wind. The wind pushes the water in from of it and it causes a storm surge. Therefore, the storm surge is water rising due to wind. WIND DRIVEN WATER.
One other question…how many times have you seen the beach flood? Lakes, rivers and creeks flood. Not beaches. The beach erodes. Could this be a massive overnight erosion of the beach? I think not.
First off…renters insurance only pays for the belongings you have in your home if someone breaks in and steals it or you are vandalized. It does not cover your losses if you have total devastation to your home and lose everything.
Secondly, some people rent because they choose to. Maybe they work jobs that force them to move every few years. Or maybe they are in the military and have no choice to buy because they may be shipped out at a moments notice. Not everyone rents because of poor choices made in life.
As the market stands right now, the value of a home is plummeting due to poor choices of the the mortgage companies. So, some renters are better off than some homeowners. I for one, have owned my home for 15 yrs and have recently remodeled hoping to sell. The value has dropped and I am planning on staying right where I am. Unless selling and renting a place proves to be ore fruitful in the long run. Not because I have made poor decisions.
To Ronnie Sonnier:
So now the storm surge is not caused by wind and the wind driven water is not water. It is hard to believe how mother nature is changing. Or is it corrupted politics? It’s like saying that Oswald did not kill Kennedy, it was the bullet.
Thanks,
Based on what I’ve been reading it will likely end up in front of an arbitration panel and both will cover a portion of the loss.Don;t waste time file arbitration!
Good day! I was wondering if this information you’ve provided will treamline all coastal regions?
I live in Florida however am inland.
Thank you.
Effective 2/1/2009 Texas Windstorm Insurance Association rates are increasing for new and renewal policies, as follows:
+15.6% for All Commercial rates, to include Farm and Ranch adn all Builders Risk policies
+12.3% for All Residential dwelling premiums
Important Note:
*Renewal notices with renewal dates of February 1st or later will include the new rates. Renewal coverage will not be bound without a copy of the renewal notice and a check for the full new premium submitted to the TWIA along with any other required documents.
*New applications previously generated with effective dates on or after 2/1/2009 should be recalculated.
For the latest up to date info contact Clinton D. Richey at (800)-776-0633 or visit our website @ http://www.txwindstorminsurance.com. Free Quotes and Info available.
Sorry Mr Pud. I only have bragging rights in the great state of Texas. Also, i have changed my website to be more reflective of my services. I now can be found at http://www.texascoastalinsurance.com
Thanks for you interest and good luck.