The bill should include a provision stating that if you are in a high hazard area and you choose not to purchase flood that Fema does not have to help you rebuild; and if you are insured and in a high hazard flood area and you rebuild in the same place, there will be no offer of another policy or coverage and no FEMA help. I can’t afford it anymore.
I could not agree with you more Mark! I am sick of these rich people using federal funds to rebuild homes over and over at my expense. If you can afford to live on the beach, river, etc. throw some chips in the game and change my mind.
Of course, if there’s a loan..even an equity line, the mortgage company will require flood ins. Most people, even the rich, use mortgage money since they have better things to do with current income and savings.
FYI, rich or not when you accept FEMA assistance (low interest loan) you are “required” to purchase flood coverage until the loan is repaid. The problem is over 15 or 20 yrs in the life of a loan NFIP may be hit with a flood claim. The program is necessary but much more reform is needed.
It’s already a rule that if your house washes out you can’t just rebuild unless it’s to today’s code. I don’t know where you are, but here in Central Texas, that usually means your new house is 25-30 feet in the air. It’s not going to flood again. So, there really is no need to exclude people from coverage unless they don’t properly rebuild. There is also a repetitive loss program in effect which mitigates repeat floods. I have hundreds of thousands in flood insurance premium in force in my agency. You should do some research before you ask for legislation that already exists.
You shouldn’t make assumptions that only ‘rich people living along the beach or river’ are using federal funds from flood losses to rebiuld… DID you watch what happened in New Orleans… I don’t remember them showing a bunch of rich people on the news- Most or your ‘ rich’ people are the ones paying for the flood insurance premiums that are used fund the program throughout the country.
Not sure where you live – but each area of the country has its own set of risk factors… Are you saying that if you live somewhere and there is an earthquake then you shouldn’t have assistance for rebuilding there, or in areas where there is tornadoes, or in areas where there are blizzards, Let me know what area of the country you live in that is exempt from any natural disater and I will invest in some real estate there since that is where you want everyone to live.
….so ture S FL! And lets not forget the Fed backed Crop Ins. Everyone is a conservative until it affects them. Not too worry, I suspect the rest of the country will soon realize how important our coastal (particularly LA)are to the rest of the country when the oil slick reaches shore and the economic domino’s start to fall.
LA Man you are correct. We are seeing the new mantra from the Democratic Leadership though; preface all your talking points by stating “removing the subsidies to the rich”. This class warfare is what the democrats are living by now. Demonize the wealthy and five the impression they are the problem. Not the people who are in flood prone areas, who refuse to buy flood insurance, then stick their hand out and demand benefits if a flood hits. It’s all the rich peoples fault!
The bill should include a provision stating that if you are in a high hazard area and you choose not to purchase flood that Fema does not have to help you rebuild; and if you are insured and in a high hazard flood area and you rebuild in the same place, there will be no offer of another policy or coverage and no FEMA help. I can’t afford it anymore.
I could not agree with you more Mark! I am sick of these rich people using federal funds to rebuild homes over and over at my expense. If you can afford to live on the beach, river, etc. throw some chips in the game and change my mind.
Of course, if there’s a loan..even an equity line, the mortgage company will require flood ins. Most people, even the rich, use mortgage money since they have better things to do with current income and savings.
FYI, rich or not when you accept FEMA assistance (low interest loan) you are “required” to purchase flood coverage until the loan is repaid. The problem is over 15 or 20 yrs in the life of a loan NFIP may be hit with a flood claim. The program is necessary but much more reform is needed.
It’s already a rule that if your house washes out you can’t just rebuild unless it’s to today’s code. I don’t know where you are, but here in Central Texas, that usually means your new house is 25-30 feet in the air. It’s not going to flood again. So, there really is no need to exclude people from coverage unless they don’t properly rebuild. There is also a repetitive loss program in effect which mitigates repeat floods. I have hundreds of thousands in flood insurance premium in force in my agency. You should do some research before you ask for legislation that already exists.
You shouldn’t make assumptions that only ‘rich people living along the beach or river’ are using federal funds from flood losses to rebiuld… DID you watch what happened in New Orleans… I don’t remember them showing a bunch of rich people on the news- Most or your ‘ rich’ people are the ones paying for the flood insurance premiums that are used fund the program throughout the country.
Not sure where you live – but each area of the country has its own set of risk factors… Are you saying that if you live somewhere and there is an earthquake then you shouldn’t have assistance for rebuilding there, or in areas where there is tornadoes, or in areas where there are blizzards, Let me know what area of the country you live in that is exempt from any natural disater and I will invest in some real estate there since that is where you want everyone to live.
….so ture S FL! And lets not forget the Fed backed Crop Ins. Everyone is a conservative until it affects them. Not too worry, I suspect the rest of the country will soon realize how important our coastal (particularly LA)are to the rest of the country when the oil slick reaches shore and the economic domino’s start to fall.
LA Man you are correct. We are seeing the new mantra from the Democratic Leadership though; preface all your talking points by stating “removing the subsidies to the rich”. This class warfare is what the democrats are living by now. Demonize the wealthy and five the impression they are the problem. Not the people who are in flood prone areas, who refuse to buy flood insurance, then stick their hand out and demand benefits if a flood hits. It’s all the rich peoples fault!