Trying to get more people to buy coverage through the NFIP is a worthy goal…
But why would anyone bother buying coverage through the NFIP?? If you don\’t, Uncle Sam and FEMA will bail you out or (and this is still unbelievable to me) your governor/state attorney general will just pursue litigation against your homeowners insurance carrier saying that the flood exclusion should be nullified and coverage should be provided (despite the fact that you never paid for the coverage).
We\’ve become a nation that no longer values self-responsibility and accountability.
No premium = no coverage. Do the right thing people, buy the appropriate level of coverage. If you don\’t, don\’t run around looking for a handout.
Any odds on how many people, after two disastrous hurricane seasons, will still say, \”But the mortgage company says I don\’t have to buy flood coverage, so why should I?\”
Any odds on how many of these people, at the end of next hurricane season, will then claim that their agent and/or insurance company never told them that they needed flood coverage, because they had an all-risk \”hurricane policy\”?
Any odds on how many lawsuits will be filed by attorneys who know better, but are rich enough to take the case \”on spec\” because they know that insurers are always afraid that some jury somewhere in Florida will buy their foolishness, and so will pay something just to get out of the limelight, and courthouse?
The time for the industry to rely on PSA\’s to get the message across, much less protect themselves, is long gone. Until the carriers insist that every agent demand a UM-style informed signed rejection on each new policy written, as well as a reminder notice of the signed rejection each year on renewal, I predict that participation in the NFIP will always be well below what it should be.
I also predict that we will see continued industry bashing, continued attempts to \”solve\” the problem via legisaltive \”remedies\”, and contineud litigation.
I agree! For the 20 years that I lived in Florida, flooding from just regular afternoon rains was a common sight in \”non-flood\” areas, especially overdeveloped residential areas.
People tend to equate flooding with what they see on TV; gorged rivers that take days or weeks to subside, sweeping away everything in their path. Or, storm surges along coastlines that cross coastal roads like A1A. No one thinks about what we used to call \”mini-floods\”, that occur routinely after heavy rains and that subside within hours of the rain stopping, but which cause just as much damage.
The corner where my parents used to live flooded about once a week during the rainy season, because there was so much concrete that the water had no place to go except along the \”viaducts\” created by paved roads. When four roads with even the slightest of incline intersect, all that water collects at the intersection. Absent storm sewers with capacity to handle this unnatural accumulation, you get a \”mini-flood\”.
I learned my lesson from this experience. I don\’t live anywhere near a \”flood zone\”, but I see more and more local flooding during just heavy rains as the areas around where I live develope more and more. I have flood insurance.
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\”Those in designated flood zones should buy coverage\” EVERYONE should have it, and this is why people not in flood zones sue.
Trying to get more people to buy coverage through the NFIP is a worthy goal…
But why would anyone bother buying coverage through the NFIP?? If you don\’t, Uncle Sam and FEMA will bail you out or (and this is still unbelievable to me) your governor/state attorney general will just pursue litigation against your homeowners insurance carrier saying that the flood exclusion should be nullified and coverage should be provided (despite the fact that you never paid for the coverage).
We\’ve become a nation that no longer values self-responsibility and accountability.
No premium = no coverage. Do the right thing people, buy the appropriate level of coverage. If you don\’t, don\’t run around looking for a handout.
Any odds on how many people, after two disastrous hurricane seasons, will still say, \”But the mortgage company says I don\’t have to buy flood coverage, so why should I?\”
Any odds on how many of these people, at the end of next hurricane season, will then claim that their agent and/or insurance company never told them that they needed flood coverage, because they had an all-risk \”hurricane policy\”?
Any odds on how many lawsuits will be filed by attorneys who know better, but are rich enough to take the case \”on spec\” because they know that insurers are always afraid that some jury somewhere in Florida will buy their foolishness, and so will pay something just to get out of the limelight, and courthouse?
The time for the industry to rely on PSA\’s to get the message across, much less protect themselves, is long gone. Until the carriers insist that every agent demand a UM-style informed signed rejection on each new policy written, as well as a reminder notice of the signed rejection each year on renewal, I predict that participation in the NFIP will always be well below what it should be.
I also predict that we will see continued industry bashing, continued attempts to \”solve\” the problem via legisaltive \”remedies\”, and contineud litigation.
Well said!
I agree! For the 20 years that I lived in Florida, flooding from just regular afternoon rains was a common sight in \”non-flood\” areas, especially overdeveloped residential areas.
People tend to equate flooding with what they see on TV; gorged rivers that take days or weeks to subside, sweeping away everything in their path. Or, storm surges along coastlines that cross coastal roads like A1A. No one thinks about what we used to call \”mini-floods\”, that occur routinely after heavy rains and that subside within hours of the rain stopping, but which cause just as much damage.
The corner where my parents used to live flooded about once a week during the rainy season, because there was so much concrete that the water had no place to go except along the \”viaducts\” created by paved roads. When four roads with even the slightest of incline intersect, all that water collects at the intersection. Absent storm sewers with capacity to handle this unnatural accumulation, you get a \”mini-flood\”.
I learned my lesson from this experience. I don\’t live anywhere near a \”flood zone\”, but I see more and more local flooding during just heavy rains as the areas around where I live develope more and more. I have flood insurance.