I suspect the actual contract (not a summary document) was probably
precise even if not easy to read and clear. That's what they pay the
lawyers for and why it is the contract that is covering not some
Not as much a racket as, say, the gaming casinos but they do try to
control their risks. As shown in FL the last two years, sometimes they
That's good that your losses were covered in the end. I'll simply note
for others who may not have been through it that in order for FEMA to be
able to help the area must have been declared a disaster area. Until
that official request by local/state authorities has been made and the
evaluation of the extent and severity is made and the consequent
declaration, FEMA can't help.
The cost depends on where you are. I am in a 500 year flood plain,
which means I can expect a flood about ever 500 years or so. My home is
appraised at about 250,000 + and I pay about $260 per year.
I was happy with it until last year. Since the new Homeland Security
took over everything they could get their hands on, including the flood
insurance, my servicing company (the feds don't do the work themselves, they
farm it out (maybe to the highest contributor?) and my servicing company has
changed three times. Somewhere along there I have been billed twice and
told I don't have insurance, even though I have my canceled check. I have
been trying for months to get an answer and no luck.
That said, I do believe it is a very wise thing to have. If your rates
are too high, then you are not living in a safe area.
if a tornado rips off my roof and it rains and floods my house, is it flood
insurance or homeowners that would cover?
Heard a guy on TV, (don't remember who it was but it was during NO coverage)
that said everyone should have Federal Flood Insurance, since it can be had
for a couple of hundred $.
If that is the case, and I am not sure that it is, then everyone would have
it, I guess.
Any hard Dollar figures for how much it costs for the Federal Flood
***If the Tornado ripped the roof off and Rains in it. that is home Owners
***flood insurance only covers water backing up into a house and not falling
into a house.
***anything coming from the Ski to damage your home. Home Owners insurance will
***anything coiming from the Ground / River/ Creek/ sewer System / run off water
backing up into your house is Flood Insurance.
Flood insurance is really cheap, however it basically only covers structural
damage. Your belongings. the basement carpeting, etc. are your problem.
So if you won't be having a flood vicious enough to cause structural damage,
it is not useful.
This is Turtle.
Earth to Toller , When you buy flood insurance you have a amount for structure
and a amount for content. I have $105K for Structure and $55K for content on my
policy and cost about $290.00 a year.
"As a homeowner, you can insure your home up to $250,000 and its contents up
$100,000. If you're a renter, you can cover your belongings up to $100,000.
non-residential property owner, you can insure your building and its
contents up to $500,000. "
Your basement carpeting, unless you have a walk-out basement, will be
your responsibility, however.
Like any other insurance, the cost is very low if you don't need it
much, sliding to very high if you're likely to collect.
If the company that does your homeowners insurance doesn't also write
flood insurance, FEMA's web site can hook you up with a local flood
insurance agent for a free quote.
firstname.lastname@example.org is Joshua Putnam
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