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re: Flood insurance premiums in parts of Louisiana are about to skyrocket
Posted on 2/7/22 at 3:54 pm to H2O Tiger
Posted on 2/7/22 at 3:54 pm to H2O Tiger
Florida is getting pretty bad. Bay Area has had huge spikes in flood insurance. Insurance companies are even calling my customers with roofs from 05 and asbestos siding and telling them to get rid and replace it by April or they’re getting dropped.
May not seem too big of a deal to some people, but it is for the guy who makes 40k a year and bought his house in 2001 for 135k and a comparable cost around 400k now.
May not seem too big of a deal to some people, but it is for the guy who makes 40k a year and bought his house in 2001 for 135k and a comparable cost around 400k now.
1
Posted on 2/7/22 at 3:57 pm to Devilsturn
I’ll say this… if my premium skyrockets like that, I’m cancelling and purchasing a few aqua dams to deploy during floods. Total financial investment would be worth it. I’m not paying $4,000 a year for flood insurance on a house in zone x that has never flooded in 50 years. I understand it only takes one flood and every flood is different. I get that. But frick, at some point it becomes a business decision.
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