Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Which is normal. Insurance companies lose money when they have to pay out. Some will even suspend your insurance when they know a big storm is coming into your area.
Which is normal. Insurance companies lose money when they have to pay out. Some will even suspend your insurance when they know a big storm is coming into your area.
I expect you can show us some verified cases of this?
Which is normal. Insurance companies lose money when they have to pay out. Some will even suspend your insurance when they know a big storm is coming into your area.
Not exactly. Insurance companies now have stipulations in policies that suspend the contracted deductible for damage caused by named storms (hurricanes, typhoons) to a deductible of % of total value of the house.
That is causing some angst here since there are some entities which are now assigning unofficial names to winter storms.
no links, I just know it happened to someone I know.
If an insurance company cancelled policies in an area for no reason other than an anticipated storm, it would have caused a big enough uproar to have hit the news.
I suspect whoever you know that said it happened did not give you correct information.
The fox news interview failed to ask 10 questions most obviously he never asked if they had flood insurance and never asked the reasoning for the determination by the insurance company. The lady in the interview indicated the house collapsed from the wind, not the flooding.
I guess anything is possible but with just 70-80 MPH winds and no trees in the picture I would question that the house collapsed from winds alone.
As someone that has been through five floods, I can tell you that insurance covers 30-40% of total damages. There are many things it will not cover and you cannot purchase coverage for those things.
Your porches, patios, and walkways, any pools, any contents in your basement - not covered.
Everything is depreciated. EVERYTHING!
We lost 3 walls of foundation and the cement blocks were depreciated.
There are people here in NJ now that I'm sure had said when unaffected, people can buy flood insurance. Now they're seeing for themselves what it really covers.
The poster that said you have to immediately rip apart the house is 100% correct. Mold sets in quick. Do not live in a flood zone if you cannot do this yourself or can pay out of pocket to get work started.
Checks don't come for a while. And when they do, they are no where near what is needed to complete the rebuild.
That's the bottom line.
When I lost the foundation in 2007, I remember calling insurance and telling them that it had been two months since the flood and we hadn't received any money and their response was "well its been two years since Katrina, so..."
That and when the house was in danger of imploding and needed to be put on jacks, we called to get approval for the jacks and they said well we can't tell you if it's approved or not unless we see it. I told them the house would implode without them and they didn't care.
Btw, I paid $2k per year for flood insurance. It's not cheap.
Needless to say, we're not there anymore.
I feel bad for those people. We still worry when a big rain is coming. My kids remember too well having to evacuate over and over.
Insurance, for the most part are usually never on your side. They have no problem of course taking your money each month but when it comes to paying out much of anything, well, those affected by that storm are unfortunately finding that out. Its really best to avoid flood areas if at all possible.
"Like a Good Neighbor, State Farm is there..." Yeah, to take your money.
Insurance, for the most part are usually never on your side. They have no problem of course taking your money each month but when it comes to paying out much of anything, well, those affected by that storm are unfortunately finding that out. Its really best to avoid flood areas if at all possible.
"Like a Good Neighbor, State Farm is there..." Yeah, to take your money.
Buying insurance is signing a contract for reimbursement for possible damage.
Most people just sign the contract without reading the provisions. That's the consumers' fault.
The complete lack of understanding as relates property and flood insurance displayed in this thread is quite alarming.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
