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Started By
Message
re: Flood insurance rate increases
Posted on 3/18/15 at 4:29 pm to bayoudude
Posted on 3/18/15 at 4:29 pm to bayoudude
quote:
Just paid my flood insurance and it just about doubled from last years bill. Went from $375 to $655 Just wanted to see if everyone else is experiencing a similar rate increase.
One of the many hidden taxes from our Federal Government. It was a racket when I paid. When they last expanded the flood area my neighbor was considered out of the flood plain and I was in. My house was clearly higher than his. I figured they must need more people paying so all those people could live around New Orleans.
It is a tax plain and simple. It is also a subsidy for folks to be able to live in a flood prone area.
1
Posted on 3/18/15 at 4:41 pm to lsu13lsu
quote:
It is a tax plain and simple
It's not a tax, its just an insurance program that is about $24B in the hole. They can't just get rid of it now though. It's kinda of like the post office, imo. You have to have it but it can never be profitable.
ETA: If the Federal Flood was not available, I believe flood insurance would be even more expensive through private companies.
This post was edited on 3/18/15 at 4:46 pm
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