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SIAP: Get government out of flood insurance!

Posted on: September 5, 2017 at 10:46:18 CT

Hbombtiger STL

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NFIP paid to rebuild one Houston home 16 times in 18 years, spending almost a million dollars to perpetually restore a house worth less than $120,000. Harris County, Texas (which includes Houston), has almost 10,000 properties which have filed repetitive flood insurance damage claims. The Washington Post recently reported that a house “outside Baton Rouge, valued at $55,921, has flooded 40 times over the years, amassing $428,379 in claims. A $90,000 property near the Mississippi River north of St. Louis has flooded 34 times, racking up claims of more than $608,000.”

Any place that flooded from Harvey should NOT be allowed to rebuild unless they want to pay for it and there's no subsidies.

https://www.usatoday.com/story/opinion/2017/09/01/harvey-proves-flood-subsidies-must-end-james-bovard-column/619926001/

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REPLY

MESSAGE THREAD

SIAP: Get government out of flood insurance! - Hbombtiger STL - 9/5 10:46:18

Let's get rid of gvmt, period (nm) - pickle MU

- 9/5 11:57:49

How about we get the Federal Gov out of all types of insuran - tman KC - 9/5 11:53:10

We could if Ins companies acted the way they are supposed to - Badird MU - 9/5 11:56:53

Easy. Make insurance policy cover you and not the other - tman KC - 9/5 12:28:34

It would sure matter to the insurance company. - Badird MU - 9/5 12:32:27

Because there is money to be made - tman KC - 9/5 12:42:17

Pure fantasy, im afraid. - Badird MU - 9/5 12:46:42

No it makes you responsible for yourself. What you want is - tman KC - 9/5 12:49:55

No. I am simply pointing out how dumb your system is. - Badird MU - 9/5 13:17:14

No. You are just making a fool of yourself - tman KC - 9/5 13:27:53

No, its a fantasy. No Ins company will pay for things they - Badird MU - 9/5 14:27:05

with a wage lien on the guy. you haven't "fixed" the proble - 90Tiger MU - 9/5 12:03:30

So you want the govt to apply a wage lien on whoever doesnt - Badird MU - 9/5 12:04:59

no, who mentioned govt lien? (nm) - 90Tiger MU - 9/5 12:24:59

Its easy. You pull their plate when they dont have insurance - NWMizzouFan MU

- 9/5 11:58:16

*facepalm* You didnt answer my question at all... - Badird MU - 9/5 12:03:47

I think everyone here should watch the 60 Minutes from Sun - Badird MU - 9/5 11:43:18

Other than setting minimum reserve levels for insurance - Spanky KU - 9/5 11:30:43

The govt has no business setting reserve levels for - ummmm MU - 9/5 11:32:09

Sure they do - Spanky KU - 9/5 15:56:18

Or actually enforce the Repetitive Loss provisions and - Mo Texan MU - 9/5 11:25:16

The moral hazard extends well beyond single home flood - ummmm MU - 9/5 11:08:15

I agree. At the very least, no insurance house > 200K. - RHAYWORTH MU - 9/5 10:57:06

So you want govt to put limits on which houses can get ins? - Badird MU - 9/5 11:49:02

Companies been making bank on flood insurance - catbirdseat MU

- 9/5 12:14:25

I don't know about that - DC Jayhawk KU - 9/5 12:24:32

Right, but that doesnt stop them from abusing customers - Badird MU - 9/5 12:21:14

I don't doubt that, but the numbers people - catbirdseat MU

- 9/5 12:49:24

This goes outside of hurricane prone areas. - Hbombtiger STL - 9/5 11:01:27

RE: This goes outside of hurricane prone areas. - MOCO SON MU - 9/5 11:02:44

And earthquake areas, and tornado prone areas - tman KC - 9/5 11:56:14

so basically don't live within 200 miles of a coast or - catbirdseat MU

- 9/5 12:15:34

No you can live there. There will also be insurance just - tman KC - 9/5 12:18:59

RE: SIAP: Get government out of flood insurance! - MOCO SON MU - 9/5 10:51:03

They need to relocate themselves. It's not the government's - Hbombtiger STL - 9/5 10:52:03

RE: They need to relocate themselves. It's not the government's - MOCO SON MU - 9/5 10:59:33

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