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Old 03-07-2014, 09:41 AM
 
2,708 posts, read 4,384,363 times
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U.S. House overwhelmingly passes flood insurance relief bill | Tampa Bay Times

Now waiting on the senate...........
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Old 03-07-2014, 09:51 AM
 
819 posts, read 1,006,102 times
Reputation: 957
I like the sound of it; I had to pay more than $2k to insure the house I just tore down between the time I closed and the time it was removed (6 weeks); would love to get a refund of some of that.
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Old 03-08-2014, 11:08 AM
 
Location: North of South, South of North
8,706 posts, read 8,776,076 times
Reputation: 5072
The people who are spreading panic about flood insurance doom and gloom are just spreading propaganda. I have said from day one there is no way either side in the end will let homeowners pay what it really costs to insure their flood risk home.
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Old 03-08-2014, 11:11 AM
 
15,296 posts, read 17,492,672 times
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This bill has a new $25/year annual assessment fee for every owner occupied flood ins policy.

a new $250/year annual assessment fee for rental homes, vacation homes,2nd homes, businesses...basically every flood insurance policy that isn't owner occupied gets the $250/year increase.
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Old 03-08-2014, 11:36 AM
 
Location: Tampa Bay, FL
237 posts, read 333,240 times
Reputation: 303
Anyone who gets subsidized home insurance is getting a hand out on the back of taxpayers. I wonder if those that are taking the taxpayer to town even care?
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Old 03-08-2014, 11:53 AM
 
21,103 posts, read 30,175,528 times
Reputation: 19472
Still worth reading given the topic...

Why Taxpayers Will Bail Out the Rich When the Next Storm Hits - NBC News
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Old 03-08-2014, 12:28 PM
 
819 posts, read 1,006,102 times
Reputation: 957
Yeah I personally agreed with the tax law as it was written. It cost me a little bit to temporarily insure a home I was tearing down, but my new home will be built properly several feet above the required flood elevation and my resulting insurance bill would have been small either way. I don't think people in mainland coastal communities that are relatively immune to serious flooding should subsidize those who made the choice to live on barrier islands, along rivers below the 100 year flood stage or even stupider, BELOW sea level like in New Orleans.

I can sympathize with those who've been in their St Pete Beach homes that were built in the 1950's for decades, but the simple fact is that it's more unfair to have everyone else pay their insurance bill than it is to expect them to pay a reasonable bill. Those homes are just waiting for a storm surge to flood and ruin them; they need to be updated to code or replaced.
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Old 03-08-2014, 12:34 PM
 
Location: Tampa Bay, FL
237 posts, read 333,240 times
Reputation: 303
Quote:
Originally Posted by spbbound View Post
Yeah I personally agreed with the tax law as it was written. It cost me a little bit to temporarily insure a home I was tearing down, but my new home will be built properly several feet above the required flood elevation and my resulting insurance bill would have been small either way. I don't think people in mainland coastal communities that are relatively immune to serious flooding should subsidize those who made the choice to live on barrier islands, along rivers below the 100 year flood stage or even stupider, BELOW sea level like in New Orleans.

I can sympathize with those who've been in their St Pete Beach homes that were built in the 1950's for decades, but the simple fact is that it's more unfair to have everyone else pay their insurance bill than it is to expect them to pay a reasonable bill. Those homes are just waiting for a storm surge to flood and ruin them; they need to be updated to code or replaced.
Well said.

Along with the article posted above which in essence chaps my arse that right now a homeowners assets arent held accountable for a loss the taxpayer will have to shoulder.
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Old 03-09-2014, 06:54 AM
 
2,261 posts, read 1,554,529 times
Reputation: 2947
We can always count on our government to make the tuff decisions. Not!! just kick this can down the road boys and girls.
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