RadioBanter - View Single Post

October 21st 05, 10:59 PM

From: (Buther*Boy)
Interesting point. In regards to Katrina, only

1/3 of the people that were affected by the

storm, had flood insurance. 1/3 seems like an

interesting figure as well. Do you think that 1/3
is high, low, or right on? I am wondering if the

1/3 of individuals/families that had flood

insurance are even going to get paid by the

insurance companies; and with that, just who

will be eligible for rebuilding money from the

govt.?

Just some thoughts I've had lately.

Buther Boy

Interesting is right. Folks on the water HAVE to have flood insurance
here in Florida IF they have a mortgage and they are on the water,
doesn't matter if it's the ocean, Gulf, river, pond, stream or creek,
it's mandatory. Problem is, the ground here is all sand. Once it sponges
all it can hold, the water begins to pool. Add a jammed/backed
up/overflowing sewage system or few into the mix and suddenly that
inland neighborhood that had no bodies of water anywhere near it is
indistinguishable from the flooded beaches, bays, tributaries and other
water flooded areas. The homes flood. I'd guess the majority of those
inland who flooded had no flood insurance.

Another way the insurance companies put the screws to us is they have
separate wind policies and deductibles. If you don't elect to take the
wind coverage (an extra expense, and again, many inland AND even here on
the coast do not elect it) and you get your roof blown off, tough!

The last straw however, is the scumbags in the insurance industry who
still have not paid their policy holders in south Florida from last
year's triple dose of hurricanes. There are still plenty of families
residing in FEMA provided trailers waiting on their checks from the
insurance companies, which leads to the bigger picture of the State Pool
Insurance that was created to help those who can't get homeowners or
those who are dropped for filing a claim. By default and totally
unintentionally, the state backed pool became the single largest insurer
in Florida AND the most expensive. They are suffering and have ethical
questions and investigations ongoing. Name of the outfit is "Citizen's
Insurance" and they are underwritten by the JUA. Google them for some
reading into why this state is so screwed up with political hacks and
friends of big business and insurance.