The nation’s flood insurance program is sinking

[Peter1469]

The nation’s flood insurance program is sinking (https://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fhttps://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fe_story.html?utm_term=https://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fe_story.html?utm_term=.118d01c6140b.118 d01c6140be_story.html?utm_term=.118d01c6140b)

I was under the impression that the flood insurance program was to get people to move out of flood zones, or pay heavy flood insurance, or self insure.

I pay a lot of money for flood insurance for my mother's house (she died and I basically pay all bills for my brother). And her house has never flooded- one of the few in the subdivision that can say that. Houses at the front of the development flood yearly- they were required to add walls and pumps.


Time after time, as the river has risen and the water has crept up Roosevelt Street, Leni-anne Shuchter has fled the white clapboard home she bought more than four decades ago.

There was the night in 1984 when rescuers plucked her from a neighbor’s roof as floodwaters engulfed her house. And the months in 2011 when she and her husband, John Van Seters, lived in a hotel after torrential rains (http://www.nj.com/news/index.ssf/2011/08/hurricane_irene_nj_rainfall_ma.html) from Hurricane Irene forced them to gut walls and floors and replace nearly everything they owned.


In between, other storms have forced her to file claim after claim with the troubled National Flood Insurance Program (https://www.fema.gov/national-flood-insurance-program) so she could rebuild. Yet the small home remains as vulnerable as ever, a reality reflected by its falling value in recent years.


“If I had a choice, I would sell,” said the 65-year-old Shuchter, who dreams of retiring to Arizona or Nevada. “I don’t need to deal with this anymore. [But] the reality of selling is nil.”
The couple’s house is what the federal government defines as a “severe repetitive loss property” — one of many that have been covered over and over again by taxpayers, the cumulative payouts often far exceeding what the structures are worth. Nationwide, 11,000 such properties dot coastal zones or other low-lying areas, and their numbers continue to grow, in part because of the effects of climate change and ongoing development.

Read the rest at the link.

[Ethereal]

Just more big government socialism throwing piles of money down a black hole.

[Peter1469]

Just more big government socialism throwing piles of money down a black hole.

A flooded black hole. There should be requirements to imrpove your land once you make your first insurance flood claim. There is where I am from.

[The Rational Libertarian]

I find it ridiculous that no one is comparing this to pensions. Flood insurance takes up far less of our budget then pensions do, yet it's running out of money?

Why does the government give flood insurance to home owners to people who live in high-risk flood zones? that only encourages people to live in high-flood zones.

[waltky]

Sounds like dey's under water.

[stjames1_53]

as sinkholes are becoming more common, watch for the next requirement, sinkhole insurance.
An old employer of mine owned a house by Pine Lake in LaPorte, IN. The lake rises in levels and then retreats in a cyclic nature. People built their homes to close to the lake's edge. Guess what?
Old man Murphy used to say, if you build near water, you can expect trouble every 14 years. 7 up, 7 down.
WE bought a house in Fort Wayne. the insurance company insisted we have flood insurance. The closest water, a river,was two miles away and never began to encroach upon our neighborhood, being well outside the flood plane Yet we were required to carry flood insurance.
It's a gig to pay for Florida's losses. The agent even said so. So when you pay for flood insurance, you are covering losses nationwide.
Insurance is a socialist program.

[donttread]

The nation’s flood insurance program is sinking (https://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fhttps://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fe_story.html?utm_term=https://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fe_story.html?utm_term=.118d01c6140b.118 d01c6140be_story.html?utm_term=.118d01c6140b)

I was under the impression that the flood insurance program was to get people to move out of flood zones, or pay heavy flood insurance, or self insure.

I pay a lot of money for flood insurance for my mother's house (she died and I basically pay all bills for my brother). And her house has never flooded- one of the few in the subdivision that can say that. Houses at the front of the development flood yearly- they were required to add walls and pumps.



Read the rest at the link.


WHAT? You expect a government program and sheep to "get out of flood plains?" Peter that would make way too much sense! No, no, no. Rebuild 3 times in 15 years and stay there by the river BECAUSE you can purchase subsidized government insurance.
Now that is government inaction!

[Peter1469]

WHAT? You expect a government program and sheep to "get out of flood plains?" Peter that would make way too much sense! No, no, no. Rebuild 3 times in 15 years and stay there by the river BECAUSE you can purchase subsidized government insurance.
Now that is government inaction!
The insurance is very expensive.

[donttread]

The insurance is very expensive.

But not as expensive as it should be , right? Rebuilding a whole house every 20 years is costly. Of course not all flood plains are fairly drawn and not all properties within them have the same risk.

[stjames1_53]

I live near an area called The Bottoms. It is an old glacier cut that floods almost once a month. It is about 4 miles long and two miles wide. It is one of these rivers that empties quick. Once it floods, it takes about 12 to 16 hours to recede. My current location is about 483 ft above sea level. It is the highest point in the valley.
Somewhere out there, about a mile or so, is a road that leads out of my area

[donttread]

I find it ridiculous that no one is comparing this to pensions. Flood insurance takes up far less of our budget then pensions do, yet it's running out of money?



Why does the government give flood insurance to home owners to people who live in high-risk flood zones? that only encourages people to live in high-flood zones.


With pensions and SS I strongly believe we need to keep our word. The government must honor it's debts to it's own people who have worked under a certain agreement their entire adult life. Changes should be made from now forward.
As for federally backed flood insurance , of course it encourages eople to live in flood plains. Just one more tiny way the government grows itself.

[Dr. Who]

The nation’s flood insurance program is sinking (https://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fhttps://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fe_story.html?utm_term=https://www.washingtonpost.com/national/health-science/the-countrys-flood-insurance-program-is-sinking-rescuing-it-wont-be-easy/2017/07/16/dd766c44-6291-11e7-84a1-a26b75ad39fe_story.html?utm_term=.118d01c6140b.118 d01c6140be_story.html?utm_term=.118d01c6140b)

I was under the impression that the flood insurance program was to get people to move out of flood zones, or pay heavy flood insurance, or self insure.

I pay a lot of money for flood insurance for my mother's house (she died and I basically pay all bills for my brother). And her house has never flooded- one of the few in the subdivision that can say that. Houses at the front of the development flood yearly- they were required to add walls and pumps.



Read the rest at the link.

The municipality that allowed building on a flood plain is to blame along with any developers involved. They knew what they were doing and did it anyway. Most people aren't aware of the dangers of a flood plane.

[Peter1469]

With pensions and SS I strongly believe we need to keep our word. The government must honor it's debts to it's own people who have worked under a certain agreement their entire adult life. Changes should be made from now forward.
As for federally backed flood insurance , of course it encourages eople to live in flood plains. Just one more tiny way the government grows itself.

With pensions at the state and local level it is not possible to keep our word. There simply is no way to honor them.

[Peter1469]

The municipality that allowed building on a flood plain is to blame along with any developers involved. They knew what they were doing and did it anyway. Most people aren't aware of the dangers of a flood plane.
The cost of the flood insurance is a clue.

I pay $2000 a year for my mom's place- and it has never flooded since it was built in 1976.

[stjames1_53]

The cost of the flood insurance is a clue.

I pay $2000 a year for my mom's place- and it has never flooded since it was built in 1976.

you're paying for FL, NC, and NO

[Peter1469]

you're paying for FL, NC, and NO
St. Charles Parish, La.