Next message: (no email): "Re: lv-ab: your risk, not mine"
While I admire the passion of respondents to this thread, perhaps I can
allow some facts to get in the way of a few good arguments. I was involved
in this stuff when Isablel hit Maryland, and a little clarification is in
order.
For wind and non-flood property damage most people have a private insurer.
If there is a mortgage on the home they are required to have this coverage.
For flood damage, coverage is also through a private insurer but
administered by FEMA. This coverage is also required on mortgaged properties
if within a flood-prone area.
The non-flood carrier is going to pay claims and be happy to continue to
insure you. Thats how they make their money. They don't care if its likely
to happen again - they adjust individual rates to take that into account. If
you can afford the rates, stay in the area.
The FEMA administered coverage is a bit different. FEMA recognizes the
problem of multiple claims for repeating disasters, and has several programs
in place to solve this problem. They advocate relocation and rebuilding on
stilts to get above the flood level, and in fact have proactive programs in
place to subsidize at-risk properties willing to raise their houses, or
move. Homeowners not complying with FEMA's programs are liable to be refused
insurance after one claim. (these programs are primarily aimed at river
flood damage in the mid-west, but are also moving into hurricane prone
areas.)
I realize none of this is any help for the poor who don't have a mortgage
and can't afford insurance. Flail away all you like at them.
This also is in no way a defence for FEMA. Notwithstanding the above, FEMA's
administration of claims in Isabel was criminal, and several class actions
are in process. More are likely from Florida, where the same gross
irregularities occurred. FEMA is badly broken, has been for a while, and
nobody seems to want to fix it. Fire the lot of them and start over.
I am no expert on this and gladly stand corrected on any innaccuracies you
can point out.
I remain with one large question, though. Property insurance will not cover
flood damage, but as I understand it will cover 'wind-driven water damage'.
Well, what was the flooding from Katrina (and Isabel) if not 'wind-driven
water'. If it hadn't been for the wind, none of it would have happened.
Tim
_____
From:
[mailto:] On Behalf Of
Sent: Tuesday, October 04, 2005 1:10 PM
To: ; ;
Subject: Re: lv-ab: your risk, not mine
If you live in a city, 6 feet below sea level, on a coast, if you live on an
island on the coast or the keys (I do), then everyone else should NOT have
to pay.
I still feel it should be like car insurance, you make a claim, your rates
will go up.
It would stop all the instance scammers also, and there are a lot of those!
Sterling
MV SterlingLadyIII <http://floridakeys.homestead.com/sterlingladyIII.html>
Key Largo, FL.
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