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| -Signs, Portents, and the Weather- |
| AP Exclusive: Most Florida flood zone property not insured |
| 2017-09-08 |
| FORT LAUDERDALE, Fla. (AP) ‐ As Hurricane Irma bears down on Florida, an Associated Press analysis shows a steep drop in flood insurance across the state, including the areas most endangered by what could be a devastating storm surge. In just five years, the state’s total number of federal flood insurance policies has fallen by 15 percent, according to Federal Emergency Management Agency data. Florida’s property owners still buy far more federal flood insurance than any other state ‐ 1.7 million policies, covering about $42 billion in assets ‐ but most residents in hazard zones are badly exposed. |
| Posted by:Besoeker |
| #10 Sorry I just couldn't resist pasting.... |
| Posted by: 3dc 2017-09-08 22:17 |
| #9 |
| Posted by: 3dc 2017-09-08 22:15 |
| #8 That's what happen when you buy Florida swampland. Remember the swampland scams... |
| Posted by: Seeking cure for ignorance 2017-09-08 17:22 |
| #7 Wonder how many of these properties were bought with drug cash. |
| Posted by: rjschwarz 2017-09-08 16:09 |
| #6 ...oh, come, on, this is the government that shoved Obamacare down everyone's throats based upon spacious calculations. Math be hard for the government. When was the last time they balanced a budget without creative bookkeeping? Has to be back in the pre-Fed old gold standard days. |
| Posted by: Procopius2k 2017-09-08 13:16 |
| #5 Flood insurance is expensive in hurricane'y Florida. And just in case you didn't know, it's the FEDS that underwrite flood insurance (most - all? - private insurance companies won't even issue it because it's too risky). I've always wondered if it's priced high enough to accomplish two things: 1.) actually cover the true monetary risks when there are claims writ large (or whether, as I suspect, there are built-in subsidies from the Feds to keep premiums lowers); 2.) discourage people from living in high-risk areas. Don't know about #1, but my guess is that #2 is around the corner for some of the folks who decided to take their chances without insurance. Is it really the federal government's (read: taxpayer's) job to backstop your decision to live in a high-risk spot, whether by the sea, by a river or in the heart of New Orleans? Like so many government programs, it actually encourages bad behavior that we all get to pay for over and over again. |
| Posted by: Glomosing Omainter7636 2017-09-08 11:33 |
| #4 Man who build on floodplain get soaked. |
| Posted by: Bright Pebbles 2017-09-08 10:37 |
| #3 Choices, choices.... |
| Posted by: Anomalous Sources 2017-09-08 09:35 |
| #2 And you just thought your mortgage was underwater. |
| Posted by: Procopius2k 2017-09-08 09:14 |
| #1 When you are few feet above sea level and in hurricane central, insurance will be expensive. But probably a deal. |
| Posted by: phil_b 2017-09-08 05:16 |