Insurance Buy-In-Act Could Help Solve Miss. Hurricane Rita Flood Insurance Claims

October 3, 2005

  • October 3, 2005 at 5:23 am
    steved says:
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    My house burned in 2000, can i buy in now and increase my coverage? I will gladly let them deduct the buy-in premium from my claim payment,,, and send me the rest…

  • October 4, 2005 at 11:23 am
    Robert Lambert says:
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    If the insurance and mortgage companies wanted to protect their interest they should have made it manatory to purchase flood insurance at the time of the sale. If an owner/buyer was advised they did not need insurance why pay extra money for something YOUR mortgage company told you was not needed because of the no flood area your house was located. The insurance companies do not mind takng your premiums but it looks like all a home owner has is a trip and fall coverage on thier policy. Both the insurance companies and mortgage companies are going to have a lot of land, vacant houses. and a whole lot of mold and ruined personnel belongings from home owners who will walk away from the whole situation. For the younger generation it will be easy to rebuild and survive. The older generation will be effected because of the financial burdens already placed on their budgeted incomes. The gas companies are making billions and are not budging from sky rocketing prices. Maybe they should share some of their wealth to help the poor and elderly persons.



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