I am so happy that there is now company offering food insurance policy, because I always said that FEMA is a rip off.Imagine this, my home insurance policy cost $992.00 per year and my FEMA insurance policy cost $2886.00 per year. I have always argued that my house is more likely to be destroyed by fire rather than by a flood yet still FEMA food insurance rate is so high.
I know this is late in being a response, but, actually, if you are in a SFHA, your likelihood of a flood is 30 times higher than a fire.
Here is what most people do not want to understand – 100 year flood DOES NOT MEAN one time in 100 years. It means, 1% chance in any given year, and what they are predicting is that the area of normally dry land will be inundated 1% of the time. SO, in a 100 year period, it is predicted that the area included in the FEMA identified SFHA will be inundated for 365 days, or 3.65 days out of each year.
Does the FIGA fund now cover flood losses for these Florida home insurance companies that now include flood coverage?
I am so happy that there is now company offering food insurance policy, because I always said that FEMA is a rip off.Imagine this, my home insurance policy cost $992.00 per year and my FEMA insurance policy cost $2886.00 per year. I have always argued that my house is more likely to be destroyed by fire rather than by a flood yet still FEMA food insurance rate is so high.
I know this is late in being a response, but, actually, if you are in a SFHA, your likelihood of a flood is 30 times higher than a fire.
Here is what most people do not want to understand – 100 year flood DOES NOT MEAN one time in 100 years. It means, 1% chance in any given year, and what they are predicting is that the area of normally dry land will be inundated 1% of the time. SO, in a 100 year period, it is predicted that the area included in the FEMA identified SFHA will be inundated for 365 days, or 3.65 days out of each year.