“Congress created the flood insurance program in 1968 because few private insurers covered flood damage, leaving the federal government to cover the cost of disasters.”
Who said the government had to cover the cost of disasters? Slimy politicians looking for votes, that’s who. Get government out of this and the problem will be solved, at least to the greatest extent possible considering that we live in an imperfect world.
Before 1968 the market was sending an important signal by not providing cheap flood insurance. That message was: “Don’t build here!”
Raising the propert a foot will save hundreds of dollars in premium per year…. Does the author not realize it costs 10’s of thousands to have tour home elevated!!
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“Congress created the flood insurance program in 1968 because few private insurers covered flood damage, leaving the federal government to cover the cost of disasters.”
Who said the government had to cover the cost of disasters? Slimy politicians looking for votes, that’s who. Get government out of this and the problem will be solved, at least to the greatest extent possible considering that we live in an imperfect world.
Before 1968 the market was sending an important signal by not providing cheap flood insurance. That message was: “Don’t build here!”
Raising the propert a foot will save hundreds of dollars in premium per year…. Does the author not realize it costs 10’s of thousands to have tour home elevated!!
Andrew, that quote came from a FEMA employee. To these guys, spending tens of thousands to save a hundred is a way of life.