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Started By
Message
No Flood Insurance in a Federal Disaster Area
Posted on 8/18/16 at 8:46 am
Posted on 8/18/16 at 8:46 am
I know that the vast majority of homeonwners did not have flood insurance. And that is understandable if you did not live within the 100 year floodplain.
So what happens in an area that has been declared a federal disaster area? Does the federal government give you money to rebuild? If not, what losses does it pay for?
And what about the homeowners that lived within the 100 year floodplain but did not have flood insurance? Are they eligible to receive federal aid?
So what happens in an area that has been declared a federal disaster area? Does the federal government give you money to rebuild? If not, what losses does it pay for?
And what about the homeowners that lived within the 100 year floodplain but did not have flood insurance? Are they eligible to receive federal aid?
5
Posted on 8/18/16 at 8:48 am to gumbeaux
You might get FEMA and you're basically screwed.
Posted on 8/18/16 at 8:48 am to gumbeaux
quote:
Does the federal government give you money to rebuild?
negative, you get a little money from FEMA but it's not going to do much
Posted on 8/18/16 at 8:49 am to gumbeaux
thE Baton Rouge area has had 2 500 year flood events in the last 30 years.
Posted on 8/18/16 at 8:49 am to gumbeaux
Governor clearly stated FEMA will give you a maximum of $33,000.
Posted on 8/18/16 at 8:51 am to tigerbutt
After Katrina they had all kinds of new programs to help out. Who knows what will happen here. I know road home paid to raise houses all over.
Posted on 8/18/16 at 8:57 am to gumbeaux
Im wondering what happens now with flood insurance requirements. Will all of these newly flooded areas not requiring flood insurance automatically be required to purchase flood insurance after this event?
Posted on 8/18/16 at 8:57 am to Wormburner
Yes
Lender can require lendees to carry flood insurance regardless of whether or not they are in a designated flood zone. Obviously if you have no mortgage, the choice is yours.
Lender can require lendees to carry flood insurance regardless of whether or not they are in a designated flood zone. Obviously if you have no mortgage, the choice is yours.
This post was edited on 8/18/16 at 9:04 am
Posted on 8/18/16 at 8:58 am to Wormburner
delete
This post was edited on 8/18/16 at 8:59 am
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