Question regarding Hurricane Isabel and flood insurance...

1 posted on 09/21/2003 5:35:54 PM PDT by zarf

Understand that the plan is to re-define the scope of flood planes. They will be EXPANDED. This will mean more folks will need to be "covered" by Federal Flood Insurance. What a Country!!!!

2 posted on 09/21/2003 5:39:20 PM PDT by codder too

I believe Bush declared NC and Virginia to be disaster areas. That probably increases the availability of government assistance.

3 posted on 09/21/2003 5:45:26 PM PDT by Cicero (Marcus Tullius)

Does US Government assistance subsidize wealthy home owners (vacation homes) who have chosen to build in these vulnerable areas?

Uncle Sugar will pay to rebuild them all a brand new home in the same flood and hurricane zone. Plus extras for contents and a low government-guaranteed-rate disaster mortgage. And all new flood insurance subsidized by you and I.

Aren't you glad you asked?

4 posted on 09/21/2003 5:51:25 PM PDT by balrog666 (As long as people believe in absurdities, they will continue to commit atrocities.)

That way, owners don't have to pay to have them repainted every few years. They just get news ones.
Quite the deal, aye?

5 posted on 09/21/2003 6:03:42 PM PDT by concerned about politics (Lucifers lefties are still stuck at the bottom of Maslow's Hierarchy)

Ummm....does anyone have a problem with this?

6 posted on 09/21/2003 6:09:03 PM PDT by zarf (..where lieth those little things with the sort of raffia work base that has an attachment?)

re: "Does US Government assistance subsidize wealthy home owners (vacation homes) who have chosen to build in these vulnerable areas?"

Of course.

Didn't you know?

7 posted on 09/21/2003 6:15:54 PM PDT by RonHolzwarth

It looks to me, from the FEMA website, that you are required to have flood insurance before you can get a dwelling financed.

There's a wealth of info at:

http://www.fema.gov/nfip/whonfip.shtm

Flood Insurance is required by law
To get secured financing to buy, build, or improve structures in Special Flood Hazard Areas (SFHA's) you will be required to purchase flood insurance. Lending institutions that are federally regulated or federally insured must determine if the structure is located in a SFHA and must provide written notice requiring flood insurance.
Flood insurance is available to any property owner located in a community participating in the NFIP. All areas are susceptible to flooding, although to varying degrees, in fact, 25% of all flood claims occur in the low-to-moderate risk areas. Flooding can be caused by heavy rains, melting snow, by inadequate drainage systems, failed protective devices such as levees and dams, as well as by tropical storms and hurricanes.
There's a big difference between having to buy flood insurance because the law says you must and choosing to buy flood coverage because it's in your best interests to do so. We recommend that all property owners purchase and keep flood insurance because it is the best means of recovery from flood damaged.
Keep the peace of mind in knowing that your property will be protected from damages from the next storm and you're not left to cover the losses yourself?

8 posted on 09/21/2003 6:21:17 PM PDT by Maria S (“I know a little bit about how White Houses work.” Hillary Clinton, 8/26/03)

Just like the word "is" and other common words.. the Left has redefinded the word "insurance".

My definition of the word is a system of payments to an enity to average out the expected cost of a large expediture, usually involving a monthly payment, including a fee (profit). It is expected that most ppl will come close to parity and not lose or win.

Now a days.. Liberal definition of "insurance" seems to mean "assurance" that the Federal government (me) will continue to fund people that always win! (entitlement).

Whether it is disaster or health insurance.. it is the same convoluted twist on words.. It now means entitlement and not really insurance.

9 posted on 09/21/2003 6:22:13 PM PDT by glowworm

Whether it is disaster or health insurance.. it is the same convoluted twist on words.. It now means entitlement and not really insurance.

Well said.

10 posted on 09/21/2003 6:32:18 PM PDT by balrog666 (As long as people believe in absurdities, they will continue to commit atrocities.)

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