As the old saying goes, you can lead a horse to water but you cannot make it drink. This is a good start, but it will not make those people that do not currently have flood insurance buy it, especially with increased rates.
As a taxpayer, and thus one who subsidizes the rates, I would add that there should be a rule that the NFIP can\’t pay a total loss more than once in seven years for the same property location.
To me, nothing is more ridiculous than continuing to pay for the rebuilding of a property that keeps getting destroyed year after year.
The definition of crazy is doing the same thing the same way, over and over, expecting a different result each time.
RIGHT ON, CHRIS! THIS COUNTRY HAS GOT TO GET AWAY FROM SUBSIDIZING THE RICH, THUS ENABLING THEM TO BUILD, MAINTAIN, AND WATCH THEIR VACATION HOMES APPRECIATE AT OUR EXPENSE! HOW ABOUT ABOLISHING NFIP ENTIRELY, AND LETTING THE PRIVATE INSURANCE MARKETPLACE INSURE THESE PROPERTIES AT A PROFITABLE PREMIUM—IF THEY WANT TO—OTHERWISE—OH WELL! IF NO TAKERS, THEN I GUESS THESE PAMPERED PROPERTIES MIGHT ACTUALLY HAVE THEIR VALUATIONS LEVEL OFF TO WHAT THEY SHOULD BE WITHOUT TAXPAYER SUPPORT!
Don\’t know that Chris had rich vacation homes in mind – I thought and approved that is was a comment on coastal properties – like New Orleans and areas of FL- that will only get hit again.
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As the old saying goes, you can lead a horse to water but you cannot make it drink. This is a good start, but it will not make those people that do not currently have flood insurance buy it, especially with increased rates.
As a taxpayer, and thus one who subsidizes the rates, I would add that there should be a rule that the NFIP can\’t pay a total loss more than once in seven years for the same property location.
To me, nothing is more ridiculous than continuing to pay for the rebuilding of a property that keeps getting destroyed year after year.
The definition of crazy is doing the same thing the same way, over and over, expecting a different result each time.
RIGHT ON, CHRIS! THIS COUNTRY HAS GOT TO GET AWAY FROM SUBSIDIZING THE RICH, THUS ENABLING THEM TO BUILD, MAINTAIN, AND WATCH THEIR VACATION HOMES APPRECIATE AT OUR EXPENSE! HOW ABOUT ABOLISHING NFIP ENTIRELY, AND LETTING THE PRIVATE INSURANCE MARKETPLACE INSURE THESE PROPERTIES AT A PROFITABLE PREMIUM—IF THEY WANT TO—OTHERWISE—OH WELL! IF NO TAKERS, THEN I GUESS THESE PAMPERED PROPERTIES MIGHT ACTUALLY HAVE THEIR VALUATIONS LEVEL OFF TO WHAT THEY SHOULD BE WITHOUT TAXPAYER SUPPORT!
Don\’t know that Chris had rich vacation homes in mind – I thought and approved that is was a comment on coastal properties – like New Orleans and areas of FL- that will only get hit again.
great idea. i read of one realto who has rebilt her home on the beach several times within that time factor.
ML,
You are correct sir; I am not refering to just rich folks\’ vacation homes.