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Posted on 8/16/16 at 8:23 am to slackster
(no message)
This post was edited on 8/16/16 at 8:24 am
Posted on 8/16/16 at 8:23 am to Slippy
quote:It's probably an accurate statistic but somewhat meaningless.
Only 13% of folks in EBR had flood insurance.
If you look at the chart near the bottom of the article you linked, 35.92% of property owners who live in high risk flood areas have flood insurance and only 24.8% of homes are in high risk flood areas.
And I don't see in the article what percent of properties in EBR actually received flood damage. Does anyone here know this number?
Posted on 8/16/16 at 8:26 am to CORIMA
quote:
Good point. But my agent is a friend who once said "I can insure you against everything that could ever happen to you, but you'd be broken paying for it"
He's right there too. Obviously there is profit in it for the company or they wouldn't sell it, but self-insurance is the other option. From a risk management standpoint, flood insurance is still very cheap.
Posted on 8/16/16 at 8:27 am to LSURussian
quote:
35.92% of property owners who live in high risk flood areas have flood insurance
That is still very alarming IMO, but obviously not as severe as the overall number.
This post was edited on 8/16/16 at 9:25 am
Posted on 8/16/16 at 8:27 am to Klark Kent
quote:
I'm also not going to be the know it all who points and laughs at 87% of folks who potentially lost everything this week just to show how smart I am
I don't think anybody is pointing at people. These are tragic circumstances. But this is a conversation that needs to happen on a much larger scale. Don't tell me that "logic" dictates not getting flood insurance. bullshite.
Perhaps if you substituted "human nature" for "logic" you could come closer to justifying the huge numbers of people who were unprepared. There is simply no excuse. Hopefully next time there won't be these numbers.
Posted on 8/16/16 at 8:36 am to 50_Tiger
The $33K from FEMA seems to only apply to those who were not required to have flood insurance because they lived in a non-flood zone. I could have interpreted that wrong. Anybody?
Posted on 8/16/16 at 8:43 am to Jcorye1
That was the scenario in New Orleans after Katrina. My daughter's $90,000 home sold for $28,000, but she did have flood insurance so she was covered. She didn't want to live in that location anymore.
Posted on 8/16/16 at 8:53 am to LSUSilverfox
quote:
Maybe some people liked the peace of mind of being able to say "I don't have flood insurance because I'll never need it".
You are confusing peace of mind with denial. Just because something that's very possible hasn't happened in your lifetime does NOT mean that it won't.
Posted on 8/16/16 at 9:07 am to CidCock
quote:
If you didn't flood this time around, you are probably okay to not purchase flood insurance.
I didn't flood. Homes a half mile from me got 3-5 feet of water. I bought flood insurance yesterday (after having stupidly cancelled it two years ago because "my area never floods."
Posted on 8/16/16 at 9:11 am to Front9Bandit
They need earthquake and wild fire insurance as well. YOU NEVER KNOW!!!
Posted on 8/16/16 at 9:17 am to lsuhunt555
quote:
You sound like a piece of shite.
Because people in Louisiana don't have flood insurance? Ok
Posted on 8/16/16 at 9:27 am to LSUZombie
quote:
If you didn't flood this time around, you are probably okay to not purchase
Complete bs. If the worst part of rain shifts over a little here or there, where it floods the worst also would shift. The only reason you should not get insurance in Louisiana is if you're willing to take that gamble.
I don't plan on dying before my kids are grown and odds are I won't. But I have a ton of life insurance on me in case I do so they can maintain the same lifestyle. It's the same thing.
The only reason not too is if your willing to take on that risk.
Posted on 8/16/16 at 9:35 am to Front9Bandit
quote:
Because people in Louisiana don't have flood insurance? Ok
No, your message that people in LA should have flood insurance is correct. The way you convey that message makes you sound like an a-hole.
Posted on 8/16/16 at 9:39 am to Tiger55
Good point about the rain. Flash flooding can get someone regardless of their elevation. Flood zones, by and large, focus on river flooding.
Posted on 8/16/16 at 9:47 am to slackster
Dallas two years ago was one more big arse rain maker from the Trinity flooding everything in its way. Most homes in North Dallas are close to major lakes. I am buying Flood insurance as many others have stated for peace of mind that all my shite will be replaced.
Posted on 8/16/16 at 9:47 am to slackster
quote:
How does NOT having flood insurance give someone peace of mind?
Posted on 8/16/16 at 10:20 am to Clockwatcher68
You cannot make a blanket statement. I live in BR and I do not h ave flood insurance because if my house floods all of BR is underwater. Literally airline would have to be 4 feet underwater for me to even get nervous. I live in mid city at like the highest neighborhood and the highest point in the neighborhood. I guess to each their own but I bought my house for a reason
Posted on 8/16/16 at 10:23 am to BoostAddict
quote:Ive never died before, which is why I dont carry life insurance
Most people are under the impression that if they're not in a flood zone and/or it's "never flooded here before", that they don't need flood insurance.
Posted on 8/16/16 at 10:24 am to Slippy
I have had no less than 100 people tell me "if I flood, all of baton rouge (or Ascension or Livingston) will be under..."
Well...there it is. I can rest at peace knowing I have never closed a home policy without offering flood.
Over 25% of all flood claims are in low risk flood zones (everyone is in a flood zone...either high risk (mtg requires flood insurance) or low risk)
Well...there it is. I can rest at peace knowing I have never closed a home policy without offering flood.
Over 25% of all flood claims are in low risk flood zones (everyone is in a flood zone...either high risk (mtg requires flood insurance) or low risk)
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