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Actually it does make the news even in the DC area.
I have a question: how is a Homeowner's claim for fire different, in your world, from a flood insurance claim?
No it doesn't, but why argue?
Not sure what the point of your question is. I think people should insure their own risks without government interference. If you live in a higher risk area you should have to pay a higher premium or fix the damage yourself. The government should stay out of it. There shouldn't be different rules for beach houses.
Yeah but the NFIP premiums have historically been subsidized. I know they had a big review of it a while back though and were going to try to fix the program but I don't know how many changes they made and the extent.
Some of these houses are those that private insurance companies won't insure at a cost these homeowners can pay. What does that tell you?
And it's really not a "bailout". People in the NFIP pay premiums for it just like people pay for Homeowner's health and car insurances.
This is what its come to in America, and its the source of the problem.
No one ever thinks that THEIR welfare/subsidy is actually welfare/subsidy. No...but everyone else's is.
I don't mind subsidizing American homeowners with disaster insurance. Totally cool with it. That's what we're here for as citizens of a common nation. Plus, I don't begrudge you having beachfront property. I'm actually happy about your good fortune.
But let's call it what it is. If you can't afford that insurance on the free market (and I mean "you" in the generic sense), then the taxpayer is giving you a subsidy if you're buying it from the government.
A.K.A...big government interference in the free market.
We have a distinct problem, many of these communities date back hundreds of years so just cutting off these homeowners is not possible. What needs to happen with the flood insurance is one shot deal and that property is no longer eligible. Build at your own risk after that.
This is what its come to in America, and its the source of the problem.
No one ever thinks that THEIR welfare/subsidy is actually welfare/subsidy. No...but everyone else's is.
I don't mind subsidizing American homeowners with disaster insurance. Totally cool with it. That's what we're here for as citizens of a common nation. Plus, I don't begrudge you having beachfront property. I'm actually happy about your good fortune.
But let's call it what it is. If you can't afford that insurance on the free market (and I mean "you" in the generic sense), then the taxpayer is giving you a subsidy if you're buying it from the government.
A.K.A...big government interference in the free market.
Actually I'm not beachfront, about 600 feet inland. Just outside the old 100 year plane so I'm not required to have NFIP. The new maps might have me in it. I see that I am while the Town Engineer says no.
Not sure what the point of your question is. I think people should insure their own risks without government interference. If you live in a higher risk area you should have to pay a higher premium or fix the damage yourself. The government should stay out of it. There shouldn't be different rules for beach houses.
The problem with that argument is that in certain areas insurers won't write under right policies, period. Without government guaranteed insurance home and business owners wouldn't be able to purchase insurance. Now I would grant I would be opposed to government backed insurance for people who purchase homes on a damned sand dune on an outer island just because they want to have a home along the beach, but for farmers, fishing communities, and others whose livelihood depends on being set in these locations I think that government backed insurance is the right thing to do. The problem is political. I doubt that it would it is possible to provide such insurance for one without providing it for the other (it isn't like folks with multi-million dollar homes on the ocean are without political influence).
Hope your family is safe Gizmo. Have you heard from them? Heard AC is pretty badly flooded already.
Thank you for your concern... it's nice to know somebody cares about their fellow Americans, since I was beginning to lose hope on here! My relatives in MD, MA & NY are all fine, but haven't heard from the ones in NJ yet - just texted my mother to see if she's heard anything.
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