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Posted: 9/14/2005 5:01:06 AM EDT
If the damage was done by wind or rain damage (after a tree fell on house) they will get the coverage that they have been paying for.

If the damage was done by a surge of water (flooding) caused by the 150+ mph winds then they insurance company will ot pay...unless they had flood insurance.

There will be thousands of people who will get nothing.

I heard this on TV and am looking for a written linky.

BigDozer66
Link Posted: 9/14/2005 5:05:01 AM EDT
Link Posted: 9/14/2005 5:06:06 AM EDT
Why should they get insurance for something they didn't pay for?

Do you think if you have no flood insurance and a pipe bursts in your house, flooding it, that the insurance company is gonna give you a check because they feel sorry for you?

I feel bad about all the people whose homes were damaged, but if they live in a coastal area that is HIGHLY prone to hurricanes and didn't have flood insurance... well it's their own damn fault.
Link Posted: 9/14/2005 5:08:12 AM EDT
Many insurance companies quit writing flood policies for property south of the interstate years ago....
You can still get it but you gonna pay.
Link Posted: 9/14/2005 5:11:11 AM EDT
Pretty standard. Flood/water damage requires a specific rider on your policy. So does earthquake damage, if you live near a fault line.

Insurance is a pretty sweet deal, for the insurers. You are required to have insurance, by law, if you drive a car on public streets. You are required to have innsurance on your home, if you carry a mortgage.
So, you are basically required to pay for insurace in America. Yet, insurance companies can make up rules to exempt themselves from paying claims.
Link Posted: 9/14/2005 5:11:34 AM EDT
Shoulda called Greywolf!
Link Posted: 9/14/2005 5:11:39 AM EDT
this will have to be decided in the courts and is going to have huge implications. is a storm surge a flood? did a levee break as part of the storm or was that a flood?

no way id live in NO without flood insurance though. the stupidity and denial of some people really is mind boggling.
Link Posted: 9/14/2005 5:14:27 AM EDT
FEMA will pay for uninsured losses.
Link Posted: 9/14/2005 5:15:54 AM EDT
shoulda bought that flood insurance
Link Posted: 9/14/2005 5:16:05 AM EDT
Why buy insurance when .gov will always bail you out?
Link Posted: 9/14/2005 5:16:06 AM EDT

Originally Posted By Q3131A:
FEMA the American taxpayers will pay for uninsured losses.

Fixed it for ya.
Link Posted: 9/14/2005 5:17:42 AM EDT
Link Posted: 9/14/2005 5:20:03 AM EDT
Link Posted: 9/14/2005 5:23:49 AM EDT

Originally Posted By Q3131A:
FEMA will pay for uninsured losses.



You win the toaster.

24 Beers in a case, 24 hours in a day... Coincidence? I think NOT!- Raising Cane


Yeah, but your only awake for 18 of those hours...........That makes it even sweeter!
Link Posted: 9/14/2005 5:23:57 AM EDT
You are correct. I work for an engineering consulting firm that has a forensic engineering division. We have 15 engineers in the Gulf Coast area right now, primarily focusing on Mississippi.

Our clients for our tasks down there are the insurance companies. Our task is to perform an inspection of damaged properties and segregate flood from wind damage, address repairability and code issues if repairable.

Insurance companies dont pay for flood unless you had a specific flood policy with the NFIP, and that is only covered to $250K. Some carriers are starting to offer though, they are few.

Typically a homeowner can expect their roof and 2nd story finishes to paid out of the wind policy (if there is visual evidence the damage was wind), the rest of the structure is likely damaged by surge and there will be no payment. If the structure is a total loss, it will likely be judged to be storm surge!!

This is a warning to all who live near the coast: GET FLOOD INSURANCE OR PREPARE TO BE SOL!!!

Link Posted: 9/14/2005 5:29:07 AM EDT
Could that be why the fires started?
Link Posted: 9/14/2005 5:29:58 AM EDT

Originally Posted By Q3131A:
FEMA will pay for uninsured losses.



My folks live in So. Cal. and have experienced their fair share of earthquakes. FEMA came in after the devestation of the Northridge quake and offered low interest loans to help rebuild damage that wasn't covered by insurance (cinder block walls between yards, etc.), but in no way was the money free. If I remember correctly, the interest rate on the loans was something like 3-4%.

My folks were still stuck holding the bag on $60,000+ in uninsured damage.
Link Posted: 9/14/2005 5:35:17 AM EDT

Originally Posted By Cypher214:
Why should they get insurance for something they didn't pay for?

Do you think if you have no flood insurance and a pipe bursts in your house, flooding it, that the insurance company is gonna give you a check because they feel sorry for you?

I feel bad about all the people whose homes were damaged, but if they live in a coastal area that is HIGHLY prone to hurricanes and didn't have flood insurance... well it's their own damn fault.



If a water pipe bursts in your house you do not need flood insurance for that.

BigDozer66
Link Posted: 9/14/2005 5:36:25 AM EDT

Originally Posted By HELOBRAVO:
Many insurance companies quit writing flood policies for property south of the interstate years ago....
You can still get it but you gonna pay.



The only place you can get flood insurance is through the .gov agency of FEMA.

BigDozer66
Link Posted: 9/14/2005 5:38:02 AM EDT

Originally Posted By Q3131A:
FEMA will pay for uninsured losses.



Isn't the limit like $10,000?

BigDozer66
Link Posted: 9/14/2005 5:39:07 AM EDT

Originally Posted By The_Beer_Slayer:

Originally Posted By Matt_B:

Originally Posted By Q3131A:
FEMA the American taxpayers will pay for uninsured losses.

Fixed it for ya.




actually there are many folks in south alabama that never got a dime of fema or insurance payouts from IVAN. insurance companines are tying payments up in court.

mike



That is what I suspected.

BigDozer66
Link Posted: 9/14/2005 5:40:16 AM EDT
I predict a lot of "fires".
Link Posted: 9/14/2005 5:41:13 AM EDT

Originally Posted By John40mm:
Could that be why the fires started?



I have been saying that since Day 1 or 2 when they all started flaring up!

BigDozer66
Link Posted: 9/14/2005 5:59:35 AM EDT
So I guess that the so-called "sure investment bet" isn't so safe.

You took the risk in investing in a house. You didn't mitigate the downside risk by being properly insured. Therefore if you lose the house you are SOL.

It is my goal to be self-insured in 10 years from earthquake damage.

Storm -- Chack
Comprehensive -- Check
Fire -- Check
Theft -- Check

No flood to worry about, but earthquake is a remote possibility.
Link Posted: 9/14/2005 6:02:43 AM EDT

have never flooded in over 100 years

A good friend lived above the millennium flood line in NC, and he lost his house a couple of years ago due to flooding. He surprisingly had flood insurance. Don't judge them harshly for having flood insurance. Think if it this way, while 100 years might not sound like often, but if they live there for 20 years the chance they'll have flood damage is 20%. Think long-term.

I don't have flood insurance because the price is greater per year than it would cost me to replace everything in my house. I don't have much of value in my house. Also, the land my house is on is worth much more than my tiny house, so it does not make sense. torstin, your "stupidity and denial" statement is too harsh. For some people, they could afford to fix their house and replace their things for what they've saved over the years on flood insurance. It's a gamble that some people win and others lose.z
Link Posted: 9/14/2005 6:14:38 AM EDT
Link Posted: 9/14/2005 6:15:54 AM EDT
One other thing most people don't realize is, is that insurance also doesn't cover backups of sewer pipes or sump pump failures.

I've got a $15/year rider on mine to cover those two things (I have a sump pump).
Link Posted: 9/14/2005 6:16:30 AM EDT
Flood insurance isn't cheap but loosing everything is worse. I survived a bad flood when I was younger and almost saw my parents house wash away. The only thing that was damaged where the things that were in the tool shed. Two weeks after the flood my parents purchased flood insurance. I think they spend $80 extra a month on it. That is downright affordable compaired to what COULD happenl
Link Posted: 9/14/2005 6:23:53 AM EDT

Originally Posted By VTHOKIESHOOTER:
Flood insurance isn't cheap but loosing everything is worse. I survived a bad flood when I was younger and almost saw my parents house wash away. The only thing that was damaged where the things that were in the tool shed. Two weeks after the flood my parents purchased flood insurance. I think they spend $80 extra a month on it. That is downright affordable compaired to what COULD happenl



I doubt it would be that cheap anymore.

BigDozer66
Link Posted: 9/14/2005 6:26:58 AM EDT
[Last Edit: 9/14/2005 6:54:39 AM EDT by skid2964]
Flood insurance is common here, at least around Jackson (the city of Jackson has flooded twice).. I would think many would have included it down on the coast also.... guess not ...
Link Posted: 9/14/2005 6:39:57 AM EDT

Originally Posted By skid2964:
Flood insurance is common here, at least around Jackson (the city of Jackson has flooded twice).. I would think many would have included it down on the cost also.... guess not ...



Your sig line still kills me man!

BigDozer66
Link Posted: 9/14/2005 6:46:08 AM EDT
Who the heck would choose live below sea level, or close to the coast where Hurricanes are known to occur, and NOT have flood insurance?


I'm sure that big government will be along shortly to bail out all of the morons, so that we can all foot the bill for their cheapness, or lack of preparedness.


Link Posted: 9/14/2005 6:55:36 AM EDT

Originally Posted By DK-Prof:
Who the heck would choose live below sea level, or close to the coast where Hurricanes are known to occur, and NOT have flood insurance?


I'm sure that big government will be along shortly to bail out all of the morons, so that we can all foot the bill for their cheapness, or lack of preparedness.




I think FEMA will give them up to $250,000, that's why alot of them don't have full insurance.
Link Posted: 9/14/2005 6:57:09 AM EDT

Originally Posted By BigDozer66:
Your sig line still kills me man!
BigDozer66



The clique mob and governor are watching you! they know you have a door in your house and your father is a male man and your mother is not!
Link Posted: 9/14/2005 7:02:00 AM EDT
[Last Edit: 9/14/2005 7:02:31 AM EDT by Hank_Rearden1]
I leave near the potomac river but not within a flood plane. Instead of flood insuance, my insurance company (statefarm) offered me (and I accepted) a Water/Drainage Back-up rider to for my homeowners policy. Basically, if drainage systems, sewers, etc fail (i.e. "back-up") for any reason and water or sewer debris damages my property, I am covered.

We had a really bad storm a few years ago and we had some damage from water that breached a drainage pond near by... StateFarm covered it.
Link Posted: 9/14/2005 7:02:09 AM EDT
T_B_S said: "actually there are many folks in south alabama that never got a dime of fema or insurance payouts from IVAN."


That is absolutely true. I opened a restaurant downtown Mobile in July 1994. After Hurricane Ivan I was put out of business. Hated it anyway so no big deal but I lost my shirt (I even sold my Class III stuff to try and keep her afloat for a while) and now I have moved on.

Lawdog
Link Posted: 9/14/2005 7:02:23 AM EDT

Originally Posted By BigDozer66:

Originally Posted By Cypher214:
Why should they get insurance for something they didn't pay for?

Do you think if you have no flood insurance and a pipe bursts in your house, flooding it, that the insurance company is gonna give you a check because they feel sorry for you?

I feel bad about all the people whose homes were damaged, but if they live in a coastal area that is HIGHLY prone to hurricanes and didn't have flood insurance... well it's their own damn fault.



If a water pipe bursts in your house you do not need flood insurance for that.

BigDozer66



I stand corrected.

My buddy's parents are going through the same situation right now and I seem to remember them saying something about the burst pipe being considered flood damage... I must have been mistaken.
Link Posted: 9/14/2005 7:05:14 AM EDT

I'm not a 'blame the victims' person, but if you live below sea level, and you don't have flood insurance.....
Link Posted: 9/14/2005 7:07:57 AM EDT
Doesn't FEMA have flood coverage for everyone?

I remember the flood insurance ads, too. If your company won't insure you against floods that may be a sign...
Link Posted: 9/14/2005 7:08:09 AM EDT

Originally Posted By Jon3:
I'm not a 'blame the victims' person, but if you live below sea level, and you don't have flood insurance.....



I would agree if you live below sea level but most of these people are not below sea level.

I wonder how far the surge actually went inland?

BigDozer66
Link Posted: 9/14/2005 7:09:25 AM EDT

Originally Posted By ArmedAggie:
Doesn't FEMA have flood coverage for everyone?

I remember the flood insurance ads, too. If your company won't insure you against floods that may be a sign...




According to the news story on insurance that I saw FEMA is the only place you can get flood insurance.

BigDozer66
Link Posted: 9/14/2005 7:10:22 AM EDT

Originally Posted By BigDozer66:

Originally Posted By Jon3:
I'm not a 'blame the victims' person, but if you live below sea level, and you don't have flood insurance.....



I wonder how far the surge actually went inland?



Right past the very last flooded houses.
Link Posted: 9/14/2005 7:21:41 AM EDT
Count me glad to be living way up high and dry. If I flood then we got much bigger issues to worry about.
Link Posted: 9/14/2005 7:37:57 AM EDT

Originally Posted By BigDozer66:

Originally Posted By ArmedAggie:
Doesn't FEMA have flood coverage for everyone?

I remember the flood insurance ads, too. If your company won't insure you against floods that may be a sign...




According to the news story on insurance that I saw FEMA is the only place you can get flood insurance.

BigDozer66



You can only get flood ins from the National Flood Insurance Program (NFIP), which is managed by the Mitigation Division of FEMA. However, I have heard there are some insurance companies that are starting to offer it.
Link Posted: 9/14/2005 7:40:51 AM EDT
Link Posted: 9/14/2005 7:56:52 AM EDT

Originally Posted By BigDozer66:


If the damage was done by a surge of water (flooding) caused by the 150+ mph winds then they insurance company will ot pay...unless they had flood insurance.


BigDozer66



This will nt sound too nice but its true.

They should have had flood insurance if they lived below sea level. If it floods, then flood insurance covers it. Why should they be exempt? Does it exempt the flooding becuase a Hurricane caused it? Flooding is flooding and ther is insurance for that.

If those people get no check because they had no flood insurance, its their fault.
Link Posted: 9/14/2005 7:58:44 AM EDT

Originally Posted By torstin:
this will have to be decided in the courts and is going to have huge implications. is a storm surge a flood? did a levee break as part of the storm or was that a flood?



A flood is a flood no matter the cause. What is there to decide in the court? Levee or Surge its still a flood.
Link Posted: 9/14/2005 8:03:42 AM EDT
The reason many did not have flood insurance is because they were liberal democraps who believe the American working Taxpayer is all the insurance they will need.
Link Posted: 9/14/2005 9:16:04 AM EDT

Originally Posted By WildBoar:
The reason many did not have flood insurance is because they were liberal democraps who believe the American working Taxpayer is all the insurance they will need.



There are many there that are exactly as you described but there are plenty who are not for one reason or another.

BigDozer66
Link Posted: 9/14/2005 9:32:51 AM EDT

Originally Posted By Cypher214:
Why should they get insurance for something they didn't pay for?

Exactly! Flood insurance is separate from your homeowner's policy.
Link Posted: 9/14/2005 12:04:32 PM EDT

Originally Posted By Q3131A:
FEMA will pay for uninsured losses.



Then why buy insurance in the first place? Just let Uncle Sugar pay for it all via the taxpayers
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