The article is incorrect with regards to them not being able to buy insurance because they are not in a flood zone. Everyone is eligible to get flood insurance regardless of the zone. The only catch is that your community has to participate with the National Flood Insurance Program in order for them to allow you to get insurance. In this case, I would assume these homeowners are in a community that doesn’t participate. Therefore, they are not eligible to purchase flood insurance through NFIP. They could have purchased flood insurance through a surplus lines carrier.
Am I missing something? I see several posts about the article saying that they were not eligible for flood insurance. Unless they have modified the article, I do not see this here, I would assume they opted to reject flood insurance from the fine agents that sold the homeowners policies, and by the way I do not know of any land that is not in some type of flood zone, it may be in an X or B,C zone but these zones are still considered low risk flood zones. Just because the bank does not require you to by flood does not make it a flood free zone, it is just lower risk of flooding. NFIP reports that over 30% of all flood losses occur in NON high risk areas.
So sneaky and shame on the insurance companies for trying so hard not to pay. It seems like insurance companies will go to extremes to deny a claim, but when it comes to paying they want to tighten up the purse string. I am disgusted with insurance companies! I think the insurance companies attitude encourages people to “pump up their claim” so they get alot more and make up for the times they were denied. The whole system is shameful!!!!
Ruth,
You sound like a person who has never read your insurance policies, We are not trying to hide anything, you are given a policy to READ, not store in a drawer somewhere to complain about later. If flood was covered under homeowners policies why in the world would we need flood policies. I am amazed at how many people think if their car is stolen it should be covered under contents on the homeowners policy, or if personal belongs are stolen out of a car that they should be covered under the auto policy. I do not see on any auto policies where your clothing and laptop computers are covered for theft from the car. Maybe some company adds some wacked out endorsement for this but it is not industry standard. People should never be surprised about what their policy covers, they are given a copy to read. the Declaration page has printed very clearly in BOLD print “This policy does not cover damages cause by flood or rising water”, this is not in fine print on page 24. If you can’t read ask someone to read it to you, but don’t lay blame on a company or agent that takes the time to give you a copy of what you have bought. NOTHING is hidden on an insurance contract. For those people that think it won’t flood in the mountains, or that your house is high enough, you have been misled and you are at risk. Take a look at recent events. And consdered yourself warned, your homeowners policy does not cover flood, or damage from rising water.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
Since when do you have to live in a flood zone to be eligible for flood insurance?
The article is incorrect with regards to them not being able to buy insurance because they are not in a flood zone. Everyone is eligible to get flood insurance regardless of the zone. The only catch is that your community has to participate with the National Flood Insurance Program in order for them to allow you to get insurance. In this case, I would assume these homeowners are in a community that doesn’t participate. Therefore, they are not eligible to purchase flood insurance through NFIP. They could have purchased flood insurance through a surplus lines carrier.
Am I missing something? I see several posts about the article saying that they were not eligible for flood insurance. Unless they have modified the article, I do not see this here, I would assume they opted to reject flood insurance from the fine agents that sold the homeowners policies, and by the way I do not know of any land that is not in some type of flood zone, it may be in an X or B,C zone but these zones are still considered low risk flood zones. Just because the bank does not require you to by flood does not make it a flood free zone, it is just lower risk of flooding. NFIP reports that over 30% of all flood losses occur in NON high risk areas.
Everyone is eligible for flood insurance. Your sentence that says only those in flood plains is not correct.
So sneaky and shame on the insurance companies for trying so hard not to pay. It seems like insurance companies will go to extremes to deny a claim, but when it comes to paying they want to tighten up the purse string. I am disgusted with insurance companies! I think the insurance companies attitude encourages people to “pump up their claim” so they get alot more and make up for the times they were denied. The whole system is shameful!!!!
It used to say that they were not eligible for flood insurance because they were not in a flood plain. Sneaky!
Ruth,
You sound like a person who has never read your insurance policies, We are not trying to hide anything, you are given a policy to READ, not store in a drawer somewhere to complain about later. If flood was covered under homeowners policies why in the world would we need flood policies. I am amazed at how many people think if their car is stolen it should be covered under contents on the homeowners policy, or if personal belongs are stolen out of a car that they should be covered under the auto policy. I do not see on any auto policies where your clothing and laptop computers are covered for theft from the car. Maybe some company adds some wacked out endorsement for this but it is not industry standard. People should never be surprised about what their policy covers, they are given a copy to read. the Declaration page has printed very clearly in BOLD print “This policy does not cover damages cause by flood or rising water”, this is not in fine print on page 24. If you can’t read ask someone to read it to you, but don’t lay blame on a company or agent that takes the time to give you a copy of what you have bought. NOTHING is hidden on an insurance contract. For those people that think it won’t flood in the mountains, or that your house is high enough, you have been misled and you are at risk. Take a look at recent events. And consdered yourself warned, your homeowners policy does not cover flood, or damage from rising water.