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re: Flood insurance rate increases

Posted on 3/18/15 at 4:41 pm to
Posted by stevengtiger
Member since Jul 2013
2778 posts
Posted on 3/18/15 at 4:41 pm to
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
Posted by lsu13lsu
Member since Jan 2008
11488 posts
Posted on 3/18/15 at 4:53 pm to
quote:

It's not a tax


It is a tax to people who will never flood. I paid it to live in a place that will literally never flood. FEMA even thought my neighbor who appeared lower than me wouldn't flood.

quote:

If the Federal Flood was not available, I believe flood insurance would be even more expensive through private companies.


People probably wouldn't live in flooding areas and force the taxpayers to pay for it via FEMA and subsidies.
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