There is no reason for it to be a separate insurance.
I agree with the point, but don’t forget that the government gets the premiums for the flood insurance.
I bought the house I live in last year, the house is above the 100 year flood plain. The lake I’m on had never gone over 106 feet, normal is 96, Duke controls the level through the dam on the lake. Helene brought it up to 108.5, another foot vertically, and it would have reached my kitchen floor.
I reached out on Monday to get flood insurance, the premiums were significantly higher than my homeowners insurance. What’s more likely, a structural fire or a 1000 year flood?
That's true. I lived in what was considered a coastal county because it touched the bay even though my house was 50 miles from the coast, in Texas by the way. About five years after I bought the house, the insurance companies decided they weren't going to cover hurricanes or wind/hailstorms. Were forced to buy windstorm insurance from the state on top of regular homeowners insurance. Needless to say it was twice as much as homeowners. The premiums were close to $4000 a year when we moved and since then have increased with some of our neighbors now paying close to $8000 a year, and these are just typical middle-class houses.