Posted on 08/13/2024 11:33:03 AM PDT by ChicagoConservative27
Hurricane Debby left billions of dollars of damage in its wake as it moved across the southeastern U.S. last week — losses made all the more devastating because so many of them may have been uninsured.
More than three-quarters of the houses damaged or destroyed by Hurricane Debby were in regions where flood insurance isn’t required, a new report from nonprofit First Street Foundation has found.
That’s because nearly $10 billion of the slow-moving storm’s estimated $12.3 billion in damage happened in regions outside the Federal Emergency Management Agency’s (FEMA) designated Flood Zones.
FEMA’s flood maps dictate where homeowners are required by law to purchase flood insurance — a financial protection that is becoming increasingly necessary to shield families from crippling losses as flood risk worsens around the country.
But as climate change driven by the burning of fossil fuels has expanded the area at risk of catastrophic flooding, FEMA’s maps have been slower to change.
(Excerpt) Read more at thehill.com ...
Guess what??
You can purchase flood insurance even if you’re not forced to buy from your lender or your government.
In my work life I used to look at the flood maps.
Then I would talk to locals about their experience with floods.
The map was definitely not the territory.
Lol.
And they expect those that are not responsible enough to purchase home insurance to pick up the tab? Sorry but I’d say you’re out on your luck.
This is the fault of the US government, they bail people out and they do it consistently and openly. They’ve been told their entire lives that the GOVT will cover it.
BULLsh;+!!!!
I see The sHill has abandoned reporting facts and is wandering around in Bizarro World.
FEMA’s flood maps dictate where homeowners are required by law to purchase flood insurance —
______________________________________________________
Not True. FEMA cannot and does not force homeowners to purchase flood insurance.
They Did!
"But as climate change driven by the burning of fossil fuels has expanded the area at risk of catastrophic flooding, FEMA’s maps have been slower to change."
Just directing the funds to illegals
25 years ago they could find resources, not today
Exactly. The local community has to adopt them.
I heard that the catastrophic hurricane never materialized, just a lot of rain, but no real flooding. Vacationers left the beach and drove in-land, when they got back they were mad that they ever listened to the weather reports.
I've heard that hurricane damage to homes can come from water or wind, and that most insurance either protects you from just one or the other. When you try and place a claim the insurer argues that the damage was caused by the thing you didn't pay coverage for.
Correct.
However both home insurance companies and mortgage lenders rely on them to evaluate flood risk.
If you do not need a mortgage and are willing to self-insure there is no impact—but most folks do not meet that criteria.
Imho the flood maps are not all that accurate—and of course that has nothing to do with the phony baloney alleged “climate change”.
You are correct. But your mortgage lender, on the other hand....
Of course there is yet another option, which is to purchase your home in an area that is not a flood zone.
I did go on to read that FEMA can force property owners to purchase flood insurance if the owner has received FEMA aid in the past.
“Take the king’s shilling, do the king’s bidding.”
“This is the fault of the US government, they bail people out and they do it consistently and openly.”
Definitely too much of that going on.
Don’t most mortgage lenders require the homeowner to carry flood insurance?
https://www.floodsmart.gov/am-i-required-have-flood-insurance
Note to the folks who chose to forgo the insurance and can’t self-insure...
Hopefully next time you’ll know better.
It might not have been in a flood zone when you bought the home.
But say developments spring up all around you after you purchase and those developments affects drainage/stormwater runoff...
All the more reason to stay informed, use yer noggin, common sense, and be wary of listening to people who tell you things you want to hear.
Excellent example on why flood maps can be wrong—that is one of the most common reasons.
Agnes ‘72 as a kid was a great education for me.
That experience is just another reason we carry good insurance.
And why we checked both hazard and risk maps before we bought our home, and keep up to date on any changes.
To spend that much on a home and then cheap out on decent insurance coverage...
I will never understand that.
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