We need to get the federal government out of the Flood Insurance business and let the people in Louisiana, Mississippi, Alabama Florida and coastal Texas pay the full amount it cost to insure their property in flood prone areas.
I do not live in a flood prone area. I do not have insurance for flood as I do not need it. However, my insurance policy reflects the companies liabilities for clients that do live in flood prone areas. In effect I am subsidizing the insurance policy of those that do build in flood prone areas.
I am subsidizing the insurance policy of those that do build in flood prone areas.
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Florida pays 60% of the entire countries premiums and gets only 15% of the plans payouts (over a 35 year period) ,, we are subsidizing the entire country and we are among the poorest here ... our median income is very low ..