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Old 08-08-2022, 08:57 PM
 
Location: Long Island
56,936 posts, read 25,873,676 times
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Quote:
Originally Posted by Mathguy View Post
No actually those are all anecdotes.

Warming in general yes, but that doesn't mean more flood risk in the US, it could actually mean less...or less in some areas and more in others.

For example, do you know that if the polar ice melts enough...Ireland freezes?
https://www.technologyreview.com/202...c-circulation/

The idea of "all weather getting worse everywhere" because of global warming is complete anti-science bunk.
How many events are needed to be meaningful, the earth has warmed over 1 deg C over the last century, more moisture in the atmosphere, more sea level rise, more severe moisture events. That’s science not bunk unless you can provide a scientific source other than Ireland freezes.


I don’t want to make this into a climate change thread but if you have a scientific source that indicates sea level rise isn’t an issue with coastal properties I would like to see it.
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Old 08-08-2022, 09:07 PM
 
15,181 posts, read 7,230,769 times
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Quote:
Originally Posted by EDS_ View Post
Apparently there are a number of homes in one area around Houston that have flooded and been rebuilt via National Flood Insurance 3x and a few 4x.
There are some townhouses in Houston I know of that have flooded at least 5 times. I understand none of them have flood insurance now, they just pay the cost to fix when they get flooded. Ground floors are all tiled, cheap appliances, use green board or cement board instead of drywall, etc.
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Old 08-08-2022, 09:33 PM
 
19,549 posts, read 17,806,917 times
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Quote:
Originally Posted by WRM20 View Post
There are some townhouses in Houston I know of that have flooded at least 5 times. I understand none of them have flood insurance now, they just pay the cost to fix when they get flooded. Ground floors are all tiled, cheap appliances, use green board or cement board instead of drywall, etc.
This is much like what we have at our lake house. Floors are tile and concrete. Water & electrical run from the attic I can kill all 120 VAC power below five feet from the floor via four breakers and all 220VAC power via four more (clothes dryer, range/oven, electric tankless water heater and boat dock power) but I could keep watching movies, run some lights and the microwave for several more hours/feet of rising water. We'd lose the fridge, dish washer and maybe the range/oven and maybe the water heater in a 50 ish year type flood. We'd lose the clothes washer and dryer in a 100ish year flood.

The next time the house does flood, which would be the first time FWIIW, I'll R&R all lost drywall with cement board. The house was built in 1971 legend has it, we've had the place for four years, water has been almost to the back door twice but never in the house at all.

My biggest problem.......a 50ish year flood would float my jet skis off their lift over the spillway and probably eventually into The Trinity Basin and worse crush the top side of my boat against our boat house ceiling......the thing is made from welded oil stem so the boat would lose for sure.
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Old 08-09-2022, 02:58 AM
 
Location: The Heart of Dixie
10,130 posts, read 15,805,843 times
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Those who support raising flood insurance are often not just liberal, but totally clueless about how flood insurance actually works and who needs it. In many of their minds, the images that come to mind are Hollywood actors homes in Malibu, or vacation properties in Palm Beach or the mansions on Long Island.

However many ordinary people like here in Louisiana live in flood prone areas. Many rural communities in Kentucky and West Virginia like we saw recently, and in the Midwest are also prone to river flooding. Now I'm not against a higher flood insurance rate if the property in question is an investment property or not someone's primary residence, but if the property IS our primary residence, then our rates should not be jacked up. The government has a responsibility to our own citizens to provide storm relief, to give us funds to repair damages, and to maintain levee systems. In fact the federal government deserves most of the blame for Katrina's damage in the New Orleans area for not maintaining the levees properly.

I remember how many blue state liberals said that areas flooded by Katrina, Harvey and Ida shouldn't be rebuilt and how people shouldn't live here. Based on their logic maybe people shouldn't live in California because of the earthquakes and constantly fires that seem to happen yearly now. When will they start charging quake insurance and fire insurance for California?
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Old 08-09-2022, 05:48 AM
 
Location: the very edge of the continent
88,650 posts, read 44,393,360 times
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Quote:
Originally Posted by kell490 View Post
I have heard of these beachfront properties in hurricane prone areas get cheap federally subsidized insurance using the excuse they want to preserve the small towns near the coast. These homes cost 1+ million $ taxpayers are subsidizing insurance for wealthy people.
It's not cheap. The cost of a FEMA flood insurance policy for an oceanfront home in my area is about $7,000 per year. The maximum payout is $250,000 and the policy pays only the depreciated value on the home.

Several oceanfront homes were wiped out a little south of here by a hurricane several years ago. They were 40-ish year old 5 to 6 bedroom homes which together with the land they were on were each worth about $1.5 million. Because of the depreciated value on the homes, FEMA flood insurance paid out only $70,000 or so per home. That came as a shock to quite a few people. If not required by a mortgage, FEMA flood insurance isn't a good deal. Put the $7,000 per year premium in an investment account, make money on it, and in about 7 years or so you'd have whatever FEMA flood ins would pay out without having to pay any premiums in perpetuity.

Last edited by InformedConsent; 08-09-2022 at 05:57 AM..
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Old 08-09-2022, 06:00 AM
Status: "Mistress of finance and foods." (set 28 days ago)
 
Location: Coastal Georgia
50,091 posts, read 63,455,214 times
Reputation: 92706
I’m in favor of flood insurance paying for homes that wash away because they had no business being built in the first place. Of course it will be expensive. Everyone’s tax dollars shouldn’t be spent over and over again.

What is unfair to me, is that my house did not require flood insurance when I bought it, but now, since one corner of a detached garage is in the new flood plane, I must pay it.....even though outbuildings are not covered.
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Old 08-09-2022, 06:02 AM
 
Location: Long Island
56,936 posts, read 25,873,676 times
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Quote:
Originally Posted by InformedConsent View Post
It's not cheap. The cost of a FEMA flood insurance policy for an oceanfront home in my area is about $7,000 per year. The maximum payout is $250,000 and the policy pays only the depreciated value on the home.

Several oceanfront homes were wiped out a little south of here by a hurricane several years ago. They were 40-ish year old 5 to 6 bedroom homes which together with the land they were on were each worth about $1.5 million. Because of the depreciated value on the homes, FEMA flood insurance paid out only $70,000 or so per home. That came as a shock to quite a few people. If not required by a mortgage, FEMA flood insurance isn't a deal. Put the $7,000 per year premium in an investment account, make money on it, and in about 7 years or so you'd have whatever FEMA flood ins would pay out without having to pay any premiums in perpetuity.
You are right it's not cheap but many of these high risk homes even at those rates aren't paying the associated premiums that would be commensurate with risk. Most mortgage companies require flood insurance in high risk areas, it's not an option.
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Old 08-09-2022, 06:06 AM
 
Location: the very edge of the continent
88,650 posts, read 44,393,360 times
Reputation: 13565
Quote:
Originally Posted by Goodnight View Post
You are right it's not cheap but many of these high risk homes even at those rates aren't paying the associated premiums that would be commensurate with risk. Most mortgage companies require flood insurance in high risk areas, it's not an option.
A $7,000/year premium for a $70,000 payout isn't commensurate with the risk. It's WAY overpriced.
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Old 08-09-2022, 06:45 AM
 
Location: Long Island
56,936 posts, read 25,873,676 times
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Quote:
Originally Posted by InformedConsent View Post
A $7,000/year premium for a $70,000 payout isn't commensurate with the risk. It's WAY overpriced.
A multi-million dollar property on the oceans edge one foot above sea level, I wouldn't expect any insurance company wanting to take on that policy at any price. That is why the NFIP is insolvent, it is expensive but it doesn't cover the loss. They aren't required to get flood insurance if they own the home, that's their choice.


https://www.pewtrusts.org/-/media/as...t_billions.pdf


One house flooded out 22 times
https://www.wsj.com/articles/one-hou...ram-1505467830
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Old 08-09-2022, 06:50 AM
 
77,878 posts, read 60,016,891 times
Reputation: 49248
Quote:
Originally Posted by Goodnight View Post
How many events are needed to be meaningful, the earth has warmed over 1 deg C over the last century, more moisture in the atmosphere, more sea level rise, more severe moisture events. That’s science not bunk unless you can provide a scientific source other than Ireland freezes.


I don’t want to make this into a climate change thread but if you have a scientific source that indicates sea level rise isn’t an issue with coastal properties I would like to see it.
For someone that is behind 0-1 on sourcing anything, I'd urge you to go google on the topics and read about wheather hurricanes will increase or not.

As for proper credibility, there are books on the topic. Anecdotes and perception of "more" are fraught with peril considering you're at the whim of news coverage changes. (aka the year of the shark).
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