[AuH2ORepublican]

"Insurance companies don't cover flood. That's FEMA (or whatever)."

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Of course insurance companies covers floods, if you have flood insurance. I used to live in a flood zone and made sure to have flood insurance, even for my car, and lo and behold my car was totaled after a flood and the insurance covered every dime.

Unfortunately, most people do not buy flood insurance, even when they live in flood zones, and that's when FEMA steps in to bail them out with taxpayer money.

[aft_lizard]

I believe the govt offers flood insurance in areas where regular insurance companies will not offer it.

[bkepley]

"Of course insurance companies covers floods, if you have flood insurance."

I was just quoting an industry representative who was on TV. It didn't sound right.

[oceanview]

where are these examples of people without flood insurance, being paid off by the government? from my knowledge of it, all they do is provide low interest loans.

[IMRight]

Of course insurance companies covers floods, if you have flood insurance. I used to live in a flood zone and made sure to have flood insurance, even for my car, and lo and behold my car was totaled after a flood and the insurance covered every dime.

Actually, if you check into it, you'll likely find that your flood insurance is actually through the National Flood Insurance Program run by FEMA.

You can tack it onto your homeowner's policy, but the premium will be the same no matter who you use and the money passes right through to the national program.

Now... you can often get ADDITIONAL coverage above that.... but that's a different topic.