- 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
re: Only 13% of folks in EBR had flood insurance.
Posted on 8/16/16 at 10:34 am to slackster
Posted on 8/16/16 at 10:34 am to slackster
quote:
That is still very alarming IMO, but obviously not as severe as the overall number.
Agreed. Now if you have a mortgage in a flood zone you HAVE to have flood insurance. Those who own their house out right have right not to have it although I dont know why in the world they would opt out being in a flood zone...
0
Posted on 8/16/16 at 10:38 am to Tiger55
quote:
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.
Fair point, but as has been discussed, its a risk thing. If you got this kind of rain and did not flood, you are "PROBABLY OKAY".
Not worth arguing over, its reasonable priced and not a bad move at all, but its reasonably priced because its a rare occurrence.
This post was edited on 8/16/16 at 10:42 am
Posted on 8/16/16 at 10:41 am to Slippy
What percentage should have it and how does that compare to other areas of the country?
Posted on 8/16/16 at 10:45 am to tigerbacon
quote:
Literally airline would have to be 4 feet underwater for me to even get nervous.
Near your area of town?
I ask this because Airline at Evangeline, Prescott, Winbourne was full of water. Near waist deep water from the looks of it on Sunday.
This post was edited on 8/16/16 at 10:46 am
Posted on 8/16/16 at 11:16 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. 30 inches in 72 hours. Think about that. I don't care where you live, you would be affected
This was a once in a 1000 year event, and with only a handful of exceptions the areas of Baton Rouge where it was not supposed to flood did not flood. If flood insurance is cheap for an area it is because the risk of flooding for that area is extremely small. Those being critical of people for not having flood insurance in areas that did not require it is like critizing victims of a airline crash for not buying one time flight insurance for that flight.
Posted on 8/16/16 at 11:46 am to prplhze2000
I could be wrong, but as a new homeowner I was told that since my neighborhood was not in a listed flood zone that I could not purchase flood insurance.
I interpreted this rule to be that if you live in a flood zone you are required to get flood insurance. if you do not, then you cannot acquire flood insurance.
If an area not in a flood zone floods, the only way they can be covered is if it is declared a natural disaster.
I interpreted this rule to be that if you live in a flood zone you are required to get flood insurance. if you do not, then you cannot acquire flood insurance.
If an area not in a flood zone floods, the only way they can be covered is if it is declared a natural disaster.
This post was edited on 8/16/16 at 11:52 am
Posted on 8/16/16 at 11:54 am to slackster
quote:
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?
then they want the government to be they daddy
Posted on 8/16/16 at 11:55 am to GumboDave
GumboDave, I don't know who your insurance agent is but you need to find another one. You can buy flood insurance even if you are not in a flood zone. If you live anywhere in Louisiana, you should buy it. $30,000 from FEMA is nothing if you have to repair your entire house and contents. The hassle to not have to deal with FEMA is worth the few hundred bucks a year.
Posted on 8/16/16 at 11:59 am to GumboDave
quote:
I could be wrong, but as a new homeowner I was told that since my neighborhood was not in a listed flood zone that I could not purchase flood insurance.
this is incorrect. anyone can purchase flood insurance.
Posted on 8/16/16 at 12:00 pm to LibraTiger
yeah and $30k is the max and is rarely given. most people get around 1-5k
Posted on 8/16/16 at 12:22 pm to tke857
Just renewed my flood insurance on Aug 1st. $450 for $250k property and $100k contents. I am not required to have insurance but about 100 yards from zone AE.
I got about 2-3" in my garage but house slab level was dry. So so close.
$450/y to protect you everything you own is cheap with respect what you can lose. I think the FEMA flood sit give youths prevent chance of a 100 year flood to occur over a 30 year mortgage and the percent chance to have a 500 year flood over a 30 year mortgage.
I got about 2-3" in my garage but house slab level was dry. So so close.
$450/y to protect you everything you own is cheap with respect what you can lose. I think the FEMA flood sit give youths prevent chance of a 100 year flood to occur over a 30 year mortgage and the percent chance to have a 500 year flood over a 30 year mortgage.
Posted on 8/16/16 at 12:38 pm to tke857
Are people with flood insurance going to get the same amount of money from FEMA? If you're going to bail the residents out that took a gamble you have to give the same amount to the ones that didn't take the chance.
Posted on 8/16/16 at 12:41 pm to Slippy
.
This post was edited on 8/21/19 at 12:27 pm
Posted on 8/16/16 at 12:42 pm to EA6B
Not really. Insurance is about insuring against catastrophic loss relative to your financial wherewithal; a big loss you cannot afford to fix out of pocket. That is true for any kind of insurance -- life, health, fire, auto, flood. Most people have no concept of this, unfortunately, so they either do not have insurance or they pay way too much in premiums and over-insure themselves (to their detriment but to the benefit of insurers and their agents).
Can you afford to gut and refinish your whole house, out of pocket, to repair a total flood loss? If the answer is no, then you need flood insurance pretty much no matter where you live unless you live on the side of a mountain or your living space is raised 20 feet above ground. But you only need a level of insurance commensurate with your ability to mitigate a catastrophic loss. In other words, get the highest deductible you can afford to pay out of pocket, otherwise the premiums you pay are a waste of money. The maximum deductible on a FEMA flood policy is about 10K. Unless you live in a flood prone / coastal area, a high deductible flood policy is going to be pretty cheap and definitely worth getting.
If only a little water gets into one room of your house and might cost a few hundred up to a few thousand to fix, that is not a catastrophic risk worth insuring, hence the high deductible logic. But if your whole house floods and you can't afford to fix such a loss, you are playing Russian roulette not having a flood policy, though again you only need one with the highest deductible you can afford.
Can you afford to gut and refinish your whole house, out of pocket, to repair a total flood loss? If the answer is no, then you need flood insurance pretty much no matter where you live unless you live on the side of a mountain or your living space is raised 20 feet above ground. But you only need a level of insurance commensurate with your ability to mitigate a catastrophic loss. In other words, get the highest deductible you can afford to pay out of pocket, otherwise the premiums you pay are a waste of money. The maximum deductible on a FEMA flood policy is about 10K. Unless you live in a flood prone / coastal area, a high deductible flood policy is going to be pretty cheap and definitely worth getting.
If only a little water gets into one room of your house and might cost a few hundred up to a few thousand to fix, that is not a catastrophic risk worth insuring, hence the high deductible logic. But if your whole house floods and you can't afford to fix such a loss, you are playing Russian roulette not having a flood policy, though again you only need one with the highest deductible you can afford.
Posted on 8/16/16 at 1:09 pm to Slippy
You would think after Hurricane Katrina that everyone would have flood insurance. I have had it since day 1. I don't need it but I have it. I don't like paying $400 per year, but in the case I need it, it will be well worth it.
Posted on 8/16/16 at 1:14 pm to EA6B
quote:
This was a once in a 1000 year event
I don't think this means what you and others think it means.
LA Times...
quote:
For the Los Angeles area, a 1-in-1,000-year rain or flooding event occurs “pretty regularly,” roughly once a year somewhere in the fairly large region, Laber said. But that doesn’t mean every such event is a disaster.
For example, a 2011 spring storm in Palmdale was a 1-in-a-1,000-year event, he said. The area received about four times its usual daily rainfall, leading to flash flooding.
In December 2014, a "extremely rare rainfall" drenched Camarillo, at times dumping rain exceeding a 1,000-year event, Laber said. At one point, nearly an inch of rain fell over 14 minutes.
LINK
Get flood insurance. This will happen again.
Posted on 8/16/16 at 1:16 pm to Front9Bandit
quote:
Wow a lot of stupid people in that area
I agree with you. The ones without flood insurance rolled the dice and lost. No sympathy.
Posted on 8/16/16 at 1:16 pm to TitleistProV1X
quote:Is this a serious question?
Are people with flood insurance going to get the same amount of money from FEMA?
Posted on 8/16/16 at 1:20 pm to lsupride87
quote:
Is this a serious question?
Yes. Most people get very little from FEMA from what I've read. Whether someone has insurance or not shouldn't really determine how much they get right?
Posted on 8/16/16 at 1:23 pm to CidCock
quote:
FEMA doesn't exactly come to the rescue.
When we flooded last year, I had about 10k in damages (HVAC, etc). Fema gave me $1100
Better than nothing, though
Thought I heard the governor say that the parishes in the disaster relief area will be eligible for up to $33k from FEMA.
Page 4 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News