FLOOD INSURANCE
Well, we all just learned a valuable lesson. Who cares if you are not in a Flood Zone. Get it anyway! $250,000 Building Coverage $100,000 Contents $348 per year if you are not in anything but an X Flood Zone. It’s cheap. The only down-side is there is a 30 day wait from the day the application is printed to the day it goes in force.
Can’t believe some of the blame games going on for those affected and un-insured. Please don’t blame the Insurance guys. They were not standing there telling you not to buy it. The mortgage broker might have said it is not lender required, that doesn’t mean you shouldn’t have it. Most hazard Insurance carriers now require a signature saying you acknowledge there is no flood coverage.
I’ll make a prediction. Out of all the HomeOwners in Lamplighter Village less than 5% had Flood Coverage. I’ll make another prediction. Those un-insured HomeOwners will still not buy Flood Coverage because it won’t happen again and they will still have to wait the 30 days. Anyone take me up on that?
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