4 ms·

I’d be interested to know if anyone living in these areas has had trouble with insurance rates over this period. I realize many people aren’t fans of insurance

by awat 8y ago

I’d be interested to know if anyone living in these areas has had trouble with insurance rates over this period. I realize many people aren’t fans of insurance but some of these areas seem quantifiably troublesome to live in short term.

bassman9000 8y ago
https://www.fema.gov/national-flood-insurance-program https://www.fema.gov/national-flood-insurance-program There's no incentive to move when FEMA can provide tax-subsidized "insurance".
- awat 8y ago
  Wow, I didnt even know this existed.
- toomuchtodo 8y ago
  It's slowly being fixed. https://www.politico.com/story/2018/03/29/as-congress-stalls-trump-quietly-overhauls-flood-program-491384 https://www.politico.com/story/2018/03/29/as-congress-stalls...
  - bassman9000 8y ago
    I see a lot of noise, and no change. But beyond forgiving the debt, Congress has been unwilling to enact additional changes.
    - toomuchtodo 8y ago
      ...which is why the Trump administration is bypassing congress using executive branch admin powers, which is the first paragraph in the link I posted.
      - bassman9000 8y ago
        https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-approves-kentucky-disaster-declaration-2/ https://www.whitehouse.gov/briefings-statements/president-do... http://cullmantoday.com/2018/04/28/president-trump-approves-fema-assistance-for-cullman-hailstorm-damage/ http://cullmantoday.com/2018/04/28/president-trump-approves-... https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-approves-north-carolina-disaster-declaration/ https://www.whitehouse.gov/briefings-statements/president-do... Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster. Would be nice to see some info on that overhaul.
        toomuchtodo 8y ago
        Will return when I have more information. I am active in the public policy space outside of my day gig, and flood insurance is an issue near and dear to my heart with regards to wasteful federal spending.
stevenwoo 8y ago
I had a relative who's home flooded during Harvey, used the Federal flood insurance to rebuild and this year renewed insurance at the same rate. Flood insurance is out of whack with normal insurance practices.
- jrs235 8y ago
  >Flood insurance is out of whack Yup. National flood insurance causes malinvestment.
justherefortart 8y ago
I live in the OKC area, no issues. My father and brother's houses 6+ miles apart. Were destroyed by the same tornado in 2010. Neither had any insurance issues at all (fortunately, didn't happen for everyone). Tornadoes while scary don't typically cause enormous areas of disaster on the scale of a major earthquake or hurricane. Flooding causes more issues as well.
peckrob 8y ago
I live in one of these areas (Huntsville, Ala., the red blob at the top of Alabama). Here, it's tornadoes. But the thing about tornadoes is that they are incredibly localized. While the big mile-wide wedge tornadoes are can destroy a lot of property, most tornadoes are small - a few dozen to a maybe a hundred yards wide. And even the big ones affect, relatively speaking, a small area. A tornado could destroy your neighbor's house and leave yours almost totally undamaged. The real danger is when you have an outbreak of a bunch of tornadoes hitting the same area. Even then, though, any individual person's chance of being impacted are pretty low. That said, I haven't had any problems getting insurance. Although, after the 2011 Super Outbreak [0] my insurance went up about 20%. Which sounds like a lot but was about $200 a year increase or $17 a month. Hardly breaking the bank for me, but I can understand how it might for some. [0] https://en.wikipedia.org/wiki/2011_Super_Outbreak https://en.wikipedia.org/wiki/2011_Super_Outbreak

by awat 8y ago

bassman9000 8y ago

https://www.fema.gov/national-flood-insurance-program https://www.fema.gov/national-flood-insurance-program There's no incentive to move when FEMA can provide tax-subsidized "insurance".

awat 8y ago
Wow, I didnt even know this existed.
toomuchtodo 8y ago
It's slowly being fixed. https://www.politico.com/story/2018/03/29/as-congress-stalls-trump-quietly-overhauls-flood-program-491384 https://www.politico.com/story/2018/03/29/as-congress-stalls...
- bassman9000 8y ago
  I see a lot of noise, and no change. But beyond forgiving the debt, Congress has been unwilling to enact additional changes.
  - toomuchtodo 8y ago
    ...which is why the Trump administration is bypassing congress using executive branch admin powers, which is the first paragraph in the link I posted.
    - bassman9000 8y ago
      https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-approves-kentucky-disaster-declaration-2/ https://www.whitehouse.gov/briefings-statements/president-do... http://cullmantoday.com/2018/04/28/president-trump-approves-fema-assistance-for-cullman-hailstorm-damage/ http://cullmantoday.com/2018/04/28/president-trump-approves-... https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-approves-north-carolina-disaster-declaration/ https://www.whitehouse.gov/briefings-statements/president-do... Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster. Would be nice to see some info on that overhaul.
      - toomuchtodo 8y ago
        Will return when I have more information. I am active in the public policy space outside of my day gig, and flood insurance is an issue near and dear to my heart with regards to wasteful federal spending.

stevenwoo 8y ago

I had a relative who's home flooded during Harvey, used the Federal flood insurance to rebuild and this year renewed insurance at the same rate. Flood insurance is out of whack with normal insurance practices.

jrs235 8y ago
>Flood insurance is out of whack Yup. National flood insurance causes malinvestment.

justherefortart 8y ago

I live in the OKC area, no issues. My father and brother's houses 6+ miles apart. Were destroyed by the same tornado in 2010. Neither had any insurance issues at all (fortunately, didn't happen for everyone). Tornadoes while scary don't typically cause enormous areas of disaster on the scale of a major earthquake or hurricane. Flooding causes more issues as well.

peckrob 8y ago

I live in one of these areas (Huntsville, Ala., the red blob at the top of Alabama). Here, it's tornadoes. But the thing about tornadoes is that they are incredibly localized. While the big mile-wide wedge tornadoes are can destroy a lot of property, most tornadoes are small - a few dozen to a maybe a hundred yards wide. And even the big ones affect, relatively speaking, a small area. A tornado could destroy your neighbor's house and leave yours almost totally undamaged. The real danger is when you have an outbreak of a bunch of tornadoes hitting the same area. Even then, though, any individual person's chance of being impacted are pretty low. That said, I haven't had any problems getting insurance. Although, after the 2011 Super Outbreak [0] my insurance went up about 20%. Which sounds like a lot but was about $200 a year increase or $17 a month. Hardly breaking the bank for me, but I can understand how it might for some. [0] https://en.wikipedia.org/wiki/2011_Super_Outbreak https://en.wikipedia.org/wiki/2011_Super_Outbreak