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It's hard to get a complete picture of how much destruction Houston has seen. The numbers that impressed me most: - Approx 30% of Harris County is underwater,

It's hard to get a complete picture of how much destruction Houston has seen. The numbers that impressed me most: - Approx 30% of Harris County is underwater, maybe 50% of the city of Houston. As the article said, only 20% of homeowners have flood insurance. - Estimate of damage to Houston is $160 billion. (In 2001, Allison damage cost $5 billion.) Katrina damage ran $108 billion, and was spread over a larger area than Harvey. Houston will need a decade or longer to rebuild, based on the aftermaths of Allison and Katrina.

efefefe 9y ago
>only 20% of homeowners have flood insurance. Whoa. So, what happens? You're up a creek without a paddle or do you sell the land or...? Seems crippling to that 80% that live in Houston.
- SoMisanthrope 9y ago
  I for one do not want to have to bale out those whom didn't have a flood rider, unsing my hard earned money via taxes. Flood riders are a readily available insurance product... and generally inexpensive. Shame on them for not having it. Personally, my first house was near a creek and I thought that I was plenty far away from it... no problem. But something told me to add a flood rider, just in case. An extra $88 per year and I was covered. Two years later, biggest storm in 50 year knocked out the power and the creek swelled to historic highs. My finished basement had three feet of water in it, before the power was restored. I got coverage and it paid off. If you don't get the coverage, that's your problem. Go ahead, down-moderate me. I don't care.
- nvahalik 9y ago
  Most people will likely qualify for Disaster Assistance[1]. The issue is that flooding is a hard thing to cover because it's an expensive risk to ensure. Plus unlike things like tornadoes, hail storms, or theft, floods always affect a large number of people. Private insurance pretty much refuse to cover these types of things because it's hard to spread stuff out. That's why stuff like the NFIP[2] and the TWIA[3] exist—because the government can pool it over the entire area (at least, in theory). [1]: https://www.disasterassistance.gov https://www.disasterassistance.gov [2]: https://en.wikipedia.org/wiki/National_Flood_Insurance_Program https://en.wikipedia.org/wiki/National_Flood_Insurance_Progr... [3]: https://www.twia.org https://www.twia.org
nvahalik 9y ago
> only 20% of homeowners have flood insurance There are a number of reasons this might be the case... it is expensive but I'm more curious to know of those people that flooded, how many are actually eligible for insurance. Just because you're in a flood plain doesn't mean you have to have insurance but local governments are responsible for setting the standard for what buildings are actually eligible for insurance. So perhaps now would be the time to ratchet these up a bit?

efefefe 9y ago

>only 20% of homeowners have flood insurance. Whoa. So, what happens? You're up a creek without a paddle or do you sell the land or...? Seems crippling to that 80% that live in Houston.

SoMisanthrope 9y ago
I for one do not want to have to bale out those whom didn't have a flood rider, unsing my hard earned money via taxes. Flood riders are a readily available insurance product... and generally inexpensive. Shame on them for not having it. Personally, my first house was near a creek and I thought that I was plenty far away from it... no problem. But something told me to add a flood rider, just in case. An extra $88 per year and I was covered. Two years later, biggest storm in 50 year knocked out the power and the creek swelled to historic highs. My finished basement had three feet of water in it, before the power was restored. I got coverage and it paid off. If you don't get the coverage, that's your problem. Go ahead, down-moderate me. I don't care.
nvahalik 9y ago
Most people will likely qualify for Disaster Assistance[1]. The issue is that flooding is a hard thing to cover because it's an expensive risk to ensure. Plus unlike things like tornadoes, hail storms, or theft, floods always affect a large number of people. Private insurance pretty much refuse to cover these types of things because it's hard to spread stuff out. That's why stuff like the NFIP[2] and the TWIA[3] exist—because the government can pool it over the entire area (at least, in theory). [1]: https://www.disasterassistance.gov https://www.disasterassistance.gov [2]: https://en.wikipedia.org/wiki/National_Flood_Insurance_Program https://en.wikipedia.org/wiki/National_Flood_Insurance_Progr... [3]: https://www.twia.org https://www.twia.org

nvahalik 9y ago

> only 20% of homeowners have flood insurance There are a number of reasons this might be the case... it is expensive but I'm more curious to know of those people that flooded, how many are actually eligible for insurance. Just because you're in a flood plain doesn't mean you have to have insurance but local governments are responsible for setting the standard for what buildings are actually eligible for insurance. So perhaps now would be the time to ratchet these up a bit?