What idiots. Limits of $335,000 and $135,000 are NOT available under the NFIP. It\’s $250,000/$100,000 for residential. You\’d think an insurance professional in FL would know more about the program.
Hey, give him a break. If you had had as many hurricanes as we have had (8 in just 2 years), you\’d be a little groggy too.
Plus, he just got caught using his office and state owned equipment soliciting money for his wife\’s campaign – I don\’t remember what she\’s running for.
Despite the \”official\” recommendation, chances are that numbers of Floridians will NOT buy flood insurance, and will also claim that they didn\’t know their Citizens policy doesn\’t cover flood.
Since everyone seems to think the insurance industry did such a poor job in 2005, let\’s see how well the State of Florida does.
Why bother even buying it?! Look at New Orleans and all those not covered as the article states. FEMA and the Feds gave them all money to rebuild. And, the courts (mis)interpreted the policies and the storm to make sure the property carriers paid as well.
And, of course, the exact purpose of the despicable wording that State Farm used was to push all damage off on the NFP, without them having any say.
Having flood coverage with the homeowner\’s carrier doesn\’t solve the problem of pushing liability off to the NFP but it does mean that all damage must be paid for by the one insurer (assuming flood limits are adequate).
Allocation between flood and wind is then an internal function of the insurer, and instead of having to field hundreds or thousands of adjusters of their own, the flood program could just examine claims files for mis-allocation.
LOL…now there is a good idea, and one that caused many of the problems Katrina related already. the SAME adjuster should NOT be allowed to adjust flood and wind. Living in Katrina land I know personally of many cases where the adjuster wrote all the damage off to flood ( even with structure remaing, roofs missing, second floor windows blown in, etc.. ) the reasoning was the if NFIP coverage amounts were enough to fix the house ….let the feds pay it. Its like the chicken guarding the hen house. Certianly not all cases were like this, but i believe it was more than many would think.
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What idiots. Limits of $335,000 and $135,000 are NOT available under the NFIP. It\’s $250,000/$100,000 for residential. You\’d think an insurance professional in FL would know more about the program.
Hey, give him a break. If you had had as many hurricanes as we have had (8 in just 2 years), you\’d be a little groggy too.
Plus, he just got caught using his office and state owned equipment soliciting money for his wife\’s campaign – I don\’t remember what she\’s running for.
Despite the \”official\” recommendation, chances are that numbers of Floridians will NOT buy flood insurance, and will also claim that they didn\’t know their Citizens policy doesn\’t cover flood.
Since everyone seems to think the insurance industry did such a poor job in 2005, let\’s see how well the State of Florida does.
The 30-day waiting period is what will trip them up. When the big one is headed their way, they\’ll all want it tomorrow.
Why bother even buying it?! Look at New Orleans and all those not covered as the article states. FEMA and the Feds gave them all money to rebuild. And, the courts (mis)interpreted the policies and the storm to make sure the property carriers paid as well.
If at all possible, the flood should be placed with the homeowner\’s insurer. That way one company is adjusting the loss, one adjuster to deal with.
This doesn\’t solve the slab problem but will help if damage is less than slab.
How are limits of $335,000 and $135,000 available?
And, of course, the exact purpose of the despicable wording that State Farm used was to push all damage off on the NFP, without them having any say.
Having flood coverage with the homeowner\’s carrier doesn\’t solve the problem of pushing liability off to the NFP but it does mean that all damage must be paid for by the one insurer (assuming flood limits are adequate).
Allocation between flood and wind is then an internal function of the insurer, and instead of having to field hundreds or thousands of adjusters of their own, the flood program could just examine claims files for mis-allocation.
LOL…now there is a good idea, and one that caused many of the problems Katrina related already. the SAME adjuster should NOT be allowed to adjust flood and wind. Living in Katrina land I know personally of many cases where the adjuster wrote all the damage off to flood ( even with structure remaing, roofs missing, second floor windows blown in, etc.. ) the reasoning was the if NFIP coverage amounts were enough to fix the house ….let the feds pay it. Its like the chicken guarding the hen house. Certianly not all cases were like this, but i believe it was more than many would think.