by fight » Tue Sep 11, 2007 05:45 am
With all the flooding going on everywhere lately, I am beginning to think it might be a good idea. I had called about it, but it was quite expensive. It was $600 a year. Sounds a bit steep to me, but then today, seeing all the things people have lost, it is sickening. I just don't know if I can squeeze another $600 out of our budget. We are on a very tight one and we do live on a hill, I just cannot decide if we really need it or not.
Posted: Tue Sep 11, 2007 06:13 pm Post Subject:
Are you in a flood area/flood plain?
In our state, before you can buy a home, you must have flood insurance if you are in these.
The problem with flood insurance is, and I am not sure it is still this way now- is not like homeowners.
We were flooded out a number of years ago and had flood insurance. The adjuster came out, wouldn't cover our building in our yard, but next door, their adjuster covered theirs. At that point they said it was up to the adjuster to decide whether it was covered or not. Also, flood insurance didn't put us in another home or hotel, like our homeowners would. It devalued our new carpet so much, they told us to take it to the car wash and dry it out-yeah right!
Now, having said all of that- I am very pro insurance. We have been in another flood, no flood insurance. The cost will devastate you- repairing and replacing everything you own. We don't have it now, because if we flood, they consider it back water.
It is up to you to figure out if it will be worth it or not. It's like homewowners, you may never need it, and the payments are high- but if you use it one time it may pay off for you!..Karen
Posted: Wed Sep 12, 2007 02:47 am Post Subject:
I investigate some information about this.I know something about this too. maybe,it's i can help you about flood insurance. All flood policies are generated throught his government, and they are expensive. About $600 annually if you don't live ina flood plain and up to $1200 if you do. Even then you are not guaranteed coverage, there's all sorts of loopholes they have to avoid paying claims. Not too mention when the weather is like this you could take out a flood poicy tomorrow and they won't issue it for 30 days becasue there is anticipation of a claim. Same goes for what is called "sump endorsements" on your homeowners policy.
If you've never had a problem with water I wouldn't bother spending the money. I hate to say it but it really only does good for those who live in a designated flood plain. Just as an example we had a policyholder whose basement flooded and the claim was denied because their yard wasn't "properly graded" therefore it was written off as neglect of their property, negligence on the part of the homeowner. They didn't get a dime. Of course it is your decision, just be sure you get all the facts and read the fine print before you sign a contract.
Posted: Wed Sep 12, 2007 05:34 am Post Subject: carry on guys!!
HI!
Its really nice to see so much of information pouring in now-a-days!
All the best guys!
Regards, Fatman
Posted: Fri Sep 14, 2007 12:15 am Post Subject:
Thanks fatman!! Still learning!!..You have made me feel really welcome here, and I thank you for that :D Karen
Posted: Fri Sep 14, 2007 04:56 am Post Subject: Always Welcome!
Hi Karen,
Its a privilege to have someone as knowledgeable as you within our community! I am sure that the forum members would be largely benefited through your invaluable info-based comments. Thanks & regards, Fatman :)
Posted: Fri Sep 14, 2007 04:57 pm Post Subject:
I'll bow to those who ar more knowledgeable about some aspects of the insurance business!!
I will share my experiences, what has/has not worked for me, and other things I have learned in my life! Being older than most here- I have gotten to experience alot of choices i have made- not all good, but I learned valuable lessons!! Thanks again..Karen :D
Posted: Sat Sep 15, 2007 04:36 pm Post Subject:
Fortunately for me, we live a couple hundred feet above the Puget Sound and don't hae to worry about flooding. We are waiting for the next big earthquake but apparently we are on very firm footing since the last one which did damage in Seattle did very little where I am.
Posted: Sat Sep 15, 2007 07:35 pm Post Subject:
If I haven't welcomed you to the Community yet-welcome :D You are luck in the respect you don't have to worry about floods, but earthquakes-don't know which I would choose!
We still live in a flood plain. The government came in and bought out the homes that flooded the worst , and are supposed to buy others over the years.
We look forward to you sharing your experience knowledge here with us..Karen
Posted: Sun Sep 16, 2007 04:56 am Post Subject:
Thanks for the welcome Karen.
I know that there are homes in the Puyallup Valley near here that have been severly damaged in recent floods and the owners have not been allowed to rebuild. That would be a tough situation.
Tim
Posted: Sun Sep 16, 2007 05:50 pm Post Subject:
Tim- I don't think there is anything nastier than a flood! The smell alone will kill you :lol: since, not only is it water, but sewage! Some idiot parents let their kids play in it here :shock:
At leaset when I had a fire years ago, the insurance company came in and cleaaned it up. With the flooding, you get to do it yourself!!..KAren
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