- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Why do so many not have flood insurance?
Posted on 8/17/16 at 5:11 pm
Posted on 8/17/16 at 5:11 pm
I became a homeowner at age 30. I know, I am not an OT baller. Although I am in flood zone C, where it is not required, I carried it anyway. I hate paying it but I do in the case of flooding, which as we have seen twice this year, can happen anywhere. Are people really relying on their realtors/mortgage lenders to advise them if they need flood insurance or not? After Hurricane Katrina, I would think everyone would have it, unless they financially could not afford it.
Please move if this doesn't belong on this board. Just curious why people don't take this seriously after everything that has happened since 05.
Please move if this doesn't belong on this board. Just curious why people don't take this seriously after everything that has happened since 05.
Posted on 8/17/16 at 5:15 pm to Weaver
quote:
After Hurricane Katrina
quote:
Mandeville, LA
quote:
ust curious why people don't take this seriously after everything that has happened since 05.
This type of flooding is completely different than the storm surge from a Hurricane. That's why you don't see that many "learning their lesson" from Katrina.
Posted on 8/17/16 at 5:27 pm to Golfer
quote:
This type of flooding is completely different than the storm surge from a Hurricane. That's why you don't see that many "learning their lesson" from Katrina.
I understand that, but if that didn't teach people that anything can happen, like levee walls breaching, then I don't know what will. I truly don't think there is anywhere in this region where you can say, cannot be flooded. I am talking about SE Louisiana.
By the way, my grandmother lived in Slidell at the time of Hurricane Katrina and had 4 feet of water and she had flood insurance. She was right by Lake Ponchartrain. Talking to people personally it seems that the line seems to be well I don't live in a flood zone and didn't require it, so I don't like spending money on it and so I don't have it.
Insurance is a necessary evil. Hopefully you will never need it, but God forbid if you need it and don't have it.
Posted on 8/17/16 at 5:27 pm to Weaver
I had it on a property that a corner was in a 100 year flood plane. I'm just that way and once after some beavers dammed up the creek I almost had to use it.
You just have to do a thorough risk analysis on what you feel is merited and what is not worth the risk outside of what is mandated.
I also carry 100/300 auto insurance because it suits my risks better and is above what the law and bank would require.
You just have to do a thorough risk analysis on what you feel is merited and what is not worth the risk outside of what is mandated.
I also carry 100/300 auto insurance because it suits my risks better and is above what the law and bank would require.
Posted on 8/17/16 at 5:30 pm to BarberitosDawg
quote:
You just have to do a thorough risk analysis on what you feel is merited and what is not worth the risk outside of what is mandated.
I think that is the point. People feel like they will never need it and would rather not spend the money. I think many that lived in Livingston, Tangipahoa and Denham Springs believed the same. I understand if times are tough, but most of the people I talked to just don't want to spend the money and blow it on stupid stuff. I don't get it.
Posted on 8/17/16 at 5:31 pm to Weaver
Because the government and flood insurance industry do a piss poor job of making logical sense to most people when it comes to explaining flood risk, flood maps, flood insurance, and everything else related to it.
Posted on 8/17/16 at 5:36 pm to Huey Lewis
quote:
Because the government and flood insurance industry do a piss poor job of making logical sense to most people when it comes to explaining flood risk, flood maps, flood insurance, and everything else related to it.
No doubt with that, but sometimes you just need to do your homework and get informed. Hopefully after the most recent flooding people will now purchase flood insurance and people won't have to rely on FEMA to help. Even if they get $32K, no way that will make them whole. That won't even cover contents, let alone the house.
Posted on 8/17/16 at 5:38 pm to Weaver
Most won't even sniff 10K...much less 32K.
Posted on 8/17/16 at 5:40 pm to iknowmorethanyou
Feel badly for people but I think some of this falls on the homeowners doing their homework. The only thing I don't have insurance wise is an umbrella policy, but I have health insurance, flood, homeowners, auto and have more coverage than I need in most cases.
Posted on 8/17/16 at 5:42 pm to Weaver
quote:
I understand that, but if that didn't teach people that anything can happen, like levee walls breaching, then I don't know what will.
I was simply stating that your point of using a flooding event caused by storm surge as reasoning for getting flood insurance in a community 50+ miles inland doesn't really make much sense outside of the "anything can happen" scenario.
quote:
By the way, my grandmother lived in Slidell at the time of Hurricane Katrina and had 4 feet of water and she had flood insurance. She was right by Lake Ponchartrain.
Surely you can understand why she would carry it vs. someone that lives in a neighborhood with a ditch 1/2 mile from them in the back of the subdivision that doesn't even fill up when it "rains hard".
quote:
Talking to people personally it seems that the line seems to be well I don't live in a flood zone and didn't require it, so I don't like spending money on it and so I don't have it.
I don't think the "so I don't like spending money on it part" is accurate. More of people putting too much trust into the flood maps and not understanding that a Flood Zone X doesn't eliminate the chance for flooding.
Posted on 8/17/16 at 5:42 pm to Weaver
My heart broke to hear the statistics regarding those uninsured. So many people live paycheck to paycheck. This event will decimate them.
Posted on 8/17/16 at 5:50 pm to Golfer
quote:
I was simply stating that your point of using a flooding event caused by storm surge as reasoning for getting flood insurance in a community 50+ miles inland doesn't really make much sense outside of the "anything can happen" scenario.
Agreed but that was my point.
quote:
Surely you can understand why she would carry it vs. someone that lives in a neighborhood with a ditch 1/2 mile from them in the back of the subdivision that doesn't even fill up when it "rains hard".
Yes, if she didn't have it that would not be smart.
quote:
I don't think the "so I don't like spending money on it part" is accurate. More of people putting too much trust into the flood maps and not understanding that a Flood Zone X doesn't eliminate the chance for flooding.
The people I know here in the Northshore that is how the conversation went. I was told I didn't need it and am not going to waste my money. Yet they drive around burning gas in their suv playing pokemon go. They have the money, they don't want to spend it. Not saying this is what everyone is saying, just the ones I know.
Posted on 8/17/16 at 6:02 pm to Weaver
Why do I get the feeling the real purpose of your thread is so you can at the homeowners who don't have flood insurance?
Posted on 8/17/16 at 6:08 pm to Weaver
quote:
I understand that, but if that didn't teach people that anything can happen, like levee walls breaching, then I don't know what will. I truly don't think there is anywhere in this region where you can say, cannot be flooded. I am talking about SE Louisiana.
If we are going to make insurance decisions based on the reasoning that anything can happen instead of proper risk analysis then everyone should start buying additional life insurance every time they fly.
From looking at the aerial photos of the flooding overlaid with the flood maps of the Baton Rouge area, probably 99% of those that didn't require flood insurance and didn't buy it made the correct decision. There are those that did get water in areas that never flooded before, but that was from a flood event that had a 0.1 percent or 1 chance in a 1000 of happening.
Posted on 8/17/16 at 7:08 pm to Weaver
quote:
Just curious why people don't take this seriously after everything that has happened since 05.
I live on the 16th floor of a highrise, if the floodwaters reach me the insurance company probably won't be able to pay out.
Posted on 8/17/16 at 7:17 pm to foshizzle
quote:
if the floodwaters reach me the insurance company probably won't be able to pay out.
flood insurance company is the federal govt., they will just print up more money
Posted on 8/17/16 at 7:42 pm to Golfer
quote:
I was simply stating that your point of using a flooding event caused by storm surge as reasoning for getting flood insurance in a community 50+ miles inland doesn't really make much sense outside of the "anything can happen" scenario.
Posted on 8/17/16 at 8:49 pm to weadjust
Flood insurance is not that expensive and it's worth every penny that you pay into it....most people could afford it if they wanted too....if you live in south louisiana it's worth spending g the money on it.... I live downtown and I'm very grateful that it doesn't flood in Spanish town....
Posted on 8/17/16 at 9:15 pm to tigers1956
I do not have flood insurance because I studied the flood maps and deemed myself out of a flood area which my mortgage adviser also claimed. I didn't get flooded nor will I ever. Just study the maps and it will tell you. Elevation, how close to water you are, how close to levees you are.
Popular
Back to top
Follow TigerDroppings for LSU Football News