Why were all the RV's left in the flood?
I understand that sometimes you can't move an RV when the water is coming up but it looks like there's a lot of RV's that were just left to flood. I mine were there I'd have moved it up the road and o...
Forum Discussion
riven1950 wrote:
Lots of speculation here folks. I've been paying Federal Flood insurance premiums on various houses for over 30 years. Current home premium started at about 175.00 years ago, now about 1400.00 with a 5000.00 deductible.... Premiums have steadily gone up over the years, no refund ever. Also, I've never received a dime even though flooded 3 times, last being last September... After doing repairs last year at my expense I figured I could claim it on my taxes as a casualty loss at least. Well, surprise surprise, causualty losses are allowed only if they exceed a % of income, so no help there either...Here on NC coast my HO insurance does not even cover wind damage anymore. I have a seperate wind and hail policy, a HO policy, and a flood insurance policy...
Is reality setting in yet ? Between the government and the insurance companies, the message they are sending is that that don't want you living in an area that is subject to catastrophic weather events. Government requires you to have very high cost flood insurance that pays pennies on the dollar or not at all, takes years to resolve, homeowners insurance policy has 100's of exclusions absolving them of any legal obligation to pay and finally no tax write offs for catastrophic losses.
If one is determined to live in such areas. one needs to be resolved to having to be self-insured with no expectation that any company or government agency will provide any financial remuneration when your house is ripped off its foundation.
