Curious to see what the outcome will be after the flooding. Same thing happened before to Grand Forks. People were warned, yet they didn’t buy flood coverage. I remember reading that one insurance agent was quoted as telling her clients they didn’t need to buy flood coverage, “because the whole town would have to go before your home does…”
Gee………buy insurance BEFORE something happens. There should be no sympathy for anyone that stupid and ignorant enough not to purchase insurance against known hazards. If they get hit a second time…….there should be NO AID. People don’t learn unless there’s a consequence they can feel.
So this insurance commissioner is telling everyone that they are supposed to run out and purchase Flood Insurance … We all know what is going to happen… When the threat passes in 2-3 months they all cancel their policy for a return premium because they didn’t get hit – Hope they are fully earned policies to give the insurance carriers a fighting chance to collect and retain the $$ to meet the losses…
By the way, there will be an Ark on 5th and Main if anyone is interested…
Even those agents that do try to sell the coverage aren’t able to. Nobody really believes they are at risk even if they have been flooded out every 10 years forever in that area.
I believe we have consensus. These people are stupid and deserve whatever they get. I agree w/Dan that they shouldn’t be eligible for any type of aid because they rolled the dice and lost. As for short term cancellations on flood policies…..it shouldn’t be allowed for just that reason.
Unfortunately Noah, none of the flood policies are fully earned if they are written through the NFIP. Maybe in the excess markets some are but I suspect not even there.
Who here can see the NFIP getting even further into debt?
Flood policies can be cancelled mid-term only under certain conditions. Cancelling a policy just because the threat has passed is not a valid reason under the NFIP. Check the manual – a good agent has a copy, and a two year subscription with updates is only $25. CHEAP E&O insurance!
Speaking of cheap insurance, check out the Preferred Risk Policy – it goes for 1/2 to as much as 2/3 less than a Standard Flood Insurance Policy in the same low (B,C & X Zones) risk flood zones.
And while we are at it, if you are not having your property clients sign a flood rejection form, call you E&O carrier and buy more coverage!
Keep in mind the the Grand Forks agent who told her clients they didn’t need the coverage – she’s no longer in business.
Burst pipes is not FLOOD. Flood is rising water from outside sources (bunches of rain, etc.). You obviously don’t understand the difference between water damage and flood and as such should not be commenting.
Curious to see what the outcome will be after the flooding. Same thing happened before to Grand Forks. People were warned, yet they didn’t buy flood coverage. I remember reading that one insurance agent was quoted as telling her clients they didn’t need to buy flood coverage, “because the whole town would have to go before your home does…”
Sad, but true……………..
Gee………buy insurance BEFORE something happens. There should be no sympathy for anyone that stupid and ignorant enough not to purchase insurance against known hazards. If they get hit a second time…….there should be NO AID. People don’t learn unless there’s a consequence they can feel.
So this insurance commissioner is telling everyone that they are supposed to run out and purchase Flood Insurance … We all know what is going to happen… When the threat passes in 2-3 months they all cancel their policy for a return premium because they didn’t get hit – Hope they are fully earned policies to give the insurance carriers a fighting chance to collect and retain the $$ to meet the losses…
By the way, there will be an Ark on 5th and Main if anyone is interested…
Even those agents that do try to sell the coverage aren’t able to. Nobody really believes they are at risk even if they have been flooded out every 10 years forever in that area.
I believe we have consensus. These people are stupid and deserve whatever they get. I agree w/Dan that they shouldn’t be eligible for any type of aid because they rolled the dice and lost. As for short term cancellations on flood policies…..it shouldn’t be allowed for just that reason.
Unfortunately Noah, none of the flood policies are fully earned if they are written through the NFIP. Maybe in the excess markets some are but I suspect not even there.
Who here can see the NFIP getting even further into debt?
Flood policies can be cancelled mid-term only under certain conditions. Cancelling a policy just because the threat has passed is not a valid reason under the NFIP. Check the manual – a good agent has a copy, and a two year subscription with updates is only $25. CHEAP E&O insurance!
Speaking of cheap insurance, check out the Preferred Risk Policy – it goes for 1/2 to as much as 2/3 less than a Standard Flood Insurance Policy in the same low (B,C & X Zones) risk flood zones.
And while we are at it, if you are not having your property clients sign a flood rejection form, call you E&O carrier and buy more coverage!
Keep in mind the the Grand Forks agent who told her clients they didn’t need the coverage – she’s no longer in business.
Excuse me but my homeowners insuracne DOES cover flood and water. Even if my pipes burst its covered on my policy.
Even if it didnt, the govt would help us rebuild.
So save it, you agent scammers.
You should be asshamed!
Dorris,
Burst pipes is not FLOOD. Flood is rising water from outside sources (bunches of rain, etc.). You obviously don’t understand the difference between water damage and flood and as such should not be commenting.
I should know, as it was my bathroom that was FLOODED. And it was covered.
So no mater how much the water rises outside, I dont need flood ins.
Dorris,
I learned a long time ago, never argue with a crazy person.
Yes, damage caused by burst pipes (under most circumstances) is covered. But although you call it “flood” it isn’t flood as defined by the policy.
Stay off the site until you understand insurance and proper terminology.
“What”, dont you understand? My whole bathroom was flooded, call it what you want, but it was covered.
And one more thing, im just messing with you, and you ate it up….
I was just playing the role of the typical customer.
Oh, man. You got me. And you’re right – that is the typical customer. Must have been one of yours at some point.
Sounds like some I’ve had in the past.
Obviously a woman with a sick sense of humor! I love it.