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re: Only 13% of folks in EBR had flood insurance.
Posted on 8/16/16 at 8:07 am to Jcorye1
Posted on 8/16/16 at 8:07 am to Jcorye1
Logic says that areas who have never flooded, never seen anything close to flood waters in their area, and a once in a 1000 year storm is likely to happen? mmmkay.
30 inches in 72 hours. Think about that. I don't care where you live, you would be affected
30 inches in 72 hours. Think about that. I don't care where you live, you would be affected
3
Posted on 8/16/16 at 8:07 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".
How does NOT having flood insurance give someone peace of mind?
Posted on 8/16/16 at 8:09 am to Jcorye1
quote:
That being said, South Louisiana is basically one gigantic swamp slowly leaking into the Gulf. Logic says you are way more apt to flood.
You don't know the geography of the area. BR is on average 56 feet above sea level, and is quite unlike most of its surrounding areas. The one thing that caused it to grow more than anything, second to work was its elevation resulting in people coming here when floods came to the rest of South Louisiana after storms. It's not a new phenomenon simply post Katrina.
Posted on 8/16/16 at 8:09 am to slackster
If you didn't flood this time around, you are probably okay to not purchase flood insurance.
Posted on 8/16/16 at 8:09 am to LSUSilverfox
quote:
Logic also says many of these areas have NEVER flooded. I'm not excusing anyone. 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".
After the flooding in March, logic removed all my peace of mind. Well, maybe more "sheer terror" than "logic", but something woke me up. All those years, I secretly felt I was the only one in town skimping on the $400 a year. Who'd a thought I was in the vast majority.
Posted on 8/16/16 at 8:10 am to Klark Kent
quote:
Logic says that areas who have never flooded, never seen anything close to flood waters in their area, and a once in a 1000 year storm is likely to happen? mmmkay.
And this is all figures into the rate. $474, on average, for flood zone X and $250,000 coverage plus $100,000 contents coverage. That is incredibly affordable.
Also, there have been 2 "500-year" flood events in Baton Rouge in 33 years. People need to educate themselves on these events that are, in all likelihood, more likely than they'd imagine.
Posted on 8/16/16 at 8:11 am to Klark Kent
quote:
Think about that. I don't care where you live, you would be affected
And you'd be smart to have coverage, if not then it's all on you
Posted on 8/16/16 at 8:12 am to CidCock
quote:
If you didn't flood this time around, you are probably okay to not purchase flood insurance.
To each their own, but there are various ways a home could flood that didn't flood this time around. It also doesn't take much imagination to think of scenarios where things could have been worse.
Posted on 8/16/16 at 8:13 am to Front9Bandit
Thats cool man, I don't own a home in that area, do I've never had to make that decision. But 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
This post was edited on 8/16/16 at 8:15 am
Posted on 8/16/16 at 8:14 am to Slippy
It blows my mind that people did not learn a lesson from Katrina to buy flood insurance even when you are not in a flood zone. It is so cheap.
Posted on 8/16/16 at 8:14 am to BRgetthenet
I'm on the fence. My area here in Lafayette borders the Vermillion River, and I am a quarter mile from the River. On Saturday I walked down the street closest to the river. The road at that point had a foot or two of water and was part of the river. Walking back home, the street rises at least 10 feet before getting to my house, then my slab is still 2-3 ft above the street. Flood zone X. My agent quoted $450 for house and contents, so thinking about it.
Posted on 8/16/16 at 8:14 am to slackster
quote:
To each their own, but there are various ways a home could flood that didn't flood this time around. It also doesn't take much imagination to think of scenarios where things could have been worse.
No doubt, each scenario is different. If you were directly downstream from a dam that held, may want to reconsider obviously. The key is to be somewhat educated.
Like any insurance, it's a calculated risk.
Posted on 8/16/16 at 8:15 am to Slippy
quote:
Only 13% of folks in EBR had flood insurance.
And, yet, they will be eligible for a $30k taxpayer funded grant.
Posted on 8/16/16 at 8:15 am to slackster
There is this little thing called the Mississippi River. It sits behind an earthen levee. Reason #1 to have it.
Posted on 8/16/16 at 8:15 am to Klark Kent
quote:
I guess you're the guy who bought life insurance at the age of 21
It is all about risk management. If you opt not to purchase flood insurance because you don't have to do so, you should still self-insure. Doing neither is a poor financial decision no mater how you slice it.
Posted on 8/16/16 at 8:16 am to udtiger
quote:
And, yet, they will be eligible for a $30k taxpayer funded grant.
Are you envious of their situation?
Posted on 8/16/16 at 8:16 am to CORIMA
What's to think about?
You'll kick yourself in the arse when it happens.
I heard some people yesterday in a hardware store talking about how the govt is gonna have to "cut a check".
I thought, frick you. What do we owe you? Where do you think that money is going to come from.
You'll kick yourself in the arse when it happens.
I heard some people yesterday in a hardware store talking about how the govt is gonna have to "cut a check".
I thought, frick you. What do we owe you? Where do you think that money is going to come from.
Posted on 8/16/16 at 8:18 am to Jcorye1
quote:Jo and Chip about to hit up that EBR market!!!
People with knowledge and disposable income are about to make a killing. Buy it cheap, gut it, fix it, sell it at market value.
Posted on 8/16/16 at 8:18 am to CORIMA
quote:
Flood zone X. My agent quoted $450 for house and contents, so thinking about it.
Peace of mind for less than $40 per month. Unless you have another way you plan to mitigate the risk, that is a pretty good way to go.
Posted on 8/16/16 at 8:19 am to slackster
quote:
And this is all figures into the rate. $474, on average, for flood zone X and $250,000 coverage plus $100,000 contents coverage. That is incredibly affordable.
Also, there have been 2 "500-year" flood events in Baton Rouge in 33 years. People need to educate themselves on these events that are, in all likelihood, more likely than they'd imagine.
And for reference, my house in Lakeview was to the rooftop from flooding during Katrina, and the new maps have put it in flood zone X. I know circumstances are different, but still. You'd be insane to live in Lakeview and not cover your house.
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