re: Flood insurance plus content

This insurance is through the NFIP and only written by your agent, they don't overwrite it and have very little interest in it being the best thing for their clients'. After Katrina, I had a flood policy that paid less than I was insured for because I was covered for less than 80% of the home value. I got really arse raped even though I knew the adjuster.

I feel like our agents' write these polices because they have to and don't inform their clients fully because they're just going through the motions on it as part of something else. Agents who write NFIP policies should be more engaged than they are and just like any government subsidy, it's poorly implemented.

There are a ton of people who are about to realize the kind of challenges that people in NOLA went through post-Katrina and will probably regret many of the things they said about the situation. It's easy to criticize from the outside looking in and I hope there's less of that for you guys' that will be going through it now. Word to the wise, your adjuster for NFIP claims is more on your side than you know but the law is the law and NFIP buyer's who think they're totally covered beware.

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I do not have content coverage. Well dog gone. I should have read

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I hate to be an ahole... but it is your home contents. It might be worth some time to read the policy or ask a question or two. Not trying to be a smart arse but it is important to have adequate coverage. I agree with other posters. Some agents sell on the cheap and the customers take a hit on a catastrophic loss. I buy houses from realtors, cars from car salesmen and insurance from agents... I do my research on it all.

Loss of use is under your Homeowner's and likely not covered during a Flood event. If it is covered, expect to pay the deductible for that separately.

I've so much empathy for the folks in that region, Katrina nearly broke me. Bon chance

I can understand this outlook and any good agent should explain the basics of your coverages but honestly sometimes the insured just does not care, they let someone else like their lender or real estate agent take care of insurance and don't get involved personally with their insurance or even speak to the insurance agent. They care about the bottom dollar and don't recognize the consequences of that until it is too late

They simply do it because it is what is required my their lender or they assume a real estate agent or lender knows what they need

You should never rely completely on any individual for this or make any assumptions when it comes to your livelihood. It only takes a couple minutes and a few questions to avoid some of these situations. Get involved even if it is just to ask a few questions
What's covered, for how much, what is my deductible. Ask questions and don't stay on the sidelines

Typically in the instances there is blamed to be shared. Much like any important transaction, communication by all parties is key

not saying I told you so.

I have sold insurance, been an insurance attorney, and a closing attorney. I have seen E&Os for all sorts of reasons. I have dealt with hundreds of lenders, insurance agents, and real estate agents

The biggest problem I have come across if I am being honest, is that people will forsake their best interest to save a quick buck (and who can blame them, rates are crazy now), they are simply looking for the lowest number they can find. Some recognize the consequences of that at the time and some do not until it is too late. There are many honest great agents out their that lose lots of business to agents that are undercutting them at the expense of the insured. I have also seen honest and good agents lose in court because the insured did not take advice given to them by the agent

So my advice, not pointing fingers, but my advice is this. at the bare minimum on any policy involving your home spend 10 minutes on the phone with your agent to ask questions about coverages that would appear on any one or 2 page dec. If you do not see it on a quote proposal do not assume it is covered. If you feel like the process was too quick and simple, there is a chance that is the case. Ask about your deductibles, ask about contents coverage, loss of use, other structures, liability. There are good real estate agents and lenders and insurance agents and there are some bad ones just looking to push numbers across.

Have a dialogue with your agent, every insured is different and the best way he can know how to serve you is if you express to him your concerns and wants. 99% of agents will be more than happy to answer any questions you may have and if they do not, get another agent. Also get your agents number, you aren't limited to calling them just when you purchase insurance, as your agent they should be available to you to answer questions when you have them. If you have an agent that you can never get a hold of and does not respond to emails or voicemails, get another agent

Make no assumptions when it comes to your livelihood as unfortunately we do not have that luxury this day in age

advice, not finger pointing