Federal flood ins...

Can anybody tell me why a federally run catastrophic fund works but
a state run program like Citzens doesn’t?

State Farm and other Ins. co’s are raising rates…

Simple answer is the that the National Flood Insurance Program is backed by tax dollars(and borrowed money from China). Premiums paid do not cover the total of all claims.

Real insurance is funded by premiums and that is why citizens rates are rising.

Welcome to Florida Mr. Larson…come on in the waters fine…

Some of your earlier post advocates the lowering of wages and other benefits.

How the hell are we going to keep up with the rising cost of everything.

Not everyone can be a business owner to take advantage of the various loop holes afforded to such businesses.

If you refuse to let the free market work you will only get ever more intrusive and inefficient government.

How has that been working?

Great… since I started my own business, although I am without health care at the moment. The insurance bill was just raised, I downgraded to just liability ins on my vehicles, except for business. My wife has discovered couponing. 100.00 dollars to fill up the beast, a $6.00 chicken, one dollar for a can of soup, my wife has been working since Jan, after being laid off, unfortunately the new job pays almost 30%less than what she was making before, for doing the same job with less people. I can go on and on…I know quit the whining…

lets get back to the original thread will ya…

why is nobody complaining about the federal flood ins. program

Cause it works…or free market system picks and choose only the most profitable…

The federal flood insurance only “works” because the government can print money to make it whole. Also, it doesn’t work. It is a part of FEMA, and simply comes out of our federal budget when a catastrophe happens. You know, that budget that spends 1.7 trillion with a T more than it takes in. :roll:

Citizens doesn’t work because wasn’t designed properly, and isn’t doing what it was designed for. It was supposed to be only the insurer of last resort, but when insurance companies figured out they could send their high risk properties there, well, hopefully you could write the rest of the story.

**although I am without health care at the moment. **

Take it from me - that is a big mistake. My medical bills last year were 1.2 million. Thank God we were covered.

Because the beneficiaries are getting more than they are paying for with their premiums.

I know, few want to admit that but it is true.

The free market places a price on premiums that will actually pay for the claims paid plus profit and overhead.

O.K. but I am the one paying i think 600.00 a yr or sumthin like that.

affordable… price i pay for livin in a flood zone i guess

where does the extra tax money come into play…I see a self sufficant system…not like the post office where their a little slow in coming up to speed

And you just admitted you should be paying more.

As it is I am helping you with your premium via my taxes.

Where’s my thank you? :wink:

Flood insurance started for me at $400 per year in 2001. It’s now $945. I’m at 10’ elevation and 2.6 miles off the coast.

In contrast, my mother’s house is at 13’ elevation, is 1/4 mile off the coast and her rate is $455 for a similar size and age house.

The section of my neighborhood that I can practically see from my house (trees are in the way) is not in a flood zone.

Everything is based upon the FEMA flood maps…

So, tell me again how this works so well? People around here complain about it all of the time.

With home values less than they were …rates should be going down?HA HA.

FEMA flood maps are a joke. I installed two large ponds on our 10 acres back in 1991. In 2009, FEMA changed the flood zones on our specific property and now the ponds that I installed, that are less than 3 feet deep during winter and stay well within their banks during the heaviest rains, are considered a flood zone. No rivers, no streams, no lakes, nothing else around our property but based on their satellite imagery, they think our ponds are now a flood zone.

This was done without notice and until I started to short plat the property into two 5 acres parcels, I had no idea it happened. Unfortunately I was past the appeal period. It cost me an additional $5k to have a flood survey done to show the County that my existing home was not within the flood zone.

I don’t think I said it works so well… just that it’s working.

Private ins. don’t want to insure high risk properties period. the cost would be so high that nobody could afford it.

I think you should look for a different ins.co. I let my agent slowly raise his fees thinking no big deal.
before you knew it …it became a big deal.

Ding, ding, ding, ding.


If the federal government wasn’t bailing out property owners in areas prone to flooding the owners would have a choice to build or find their own insurance at whatever rate is needed to pay claims.

Sounds fair to me.

thank you…so i am paying for being in a flood zone and paying for people who live in non catastrophic areas.

Do you have tornado ins…or avalanche ins…or earthquake…how about micro-burst…

if not where is my thanx…

Please explain.

Do you think I’m getting some kind of subsidy like you do for your flood insurance?

Agent fees have little or nothing to do with FEMA flood insurance rates.

From the FEMA site my rate is $956.

Has more to do with the FEMA maps than anything else. If you’re in a B zone, you’re good. If you’re in a V zone, lookout, the rates are about double these!!

I know better than to argue w you…I pay for living in a disaster area…if a disaster were to hit your area who pays…do you carry catastrophic ins. or does the taxpayer pay…isn’t that a subsidy???

Yes you do but I get to pay for you living in that same disaster area.

Is that fair?

My home owners insurance pays and it is not subsidized by you.