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Old 03-28-2013, 06:10 PM
 
30,434 posts, read 21,271,177 times
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Looks like they are gonna jack up rates on flood Ins.
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Old 03-28-2013, 06:21 PM
 
Location: Tampa, FL
27,798 posts, read 32,448,899 times
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FEMA..by how much?
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Old 03-28-2013, 06:37 PM
 
30,434 posts, read 21,271,177 times
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Quote:
Originally Posted by BucFan View Post
FEMA..by how much?
not sure yet. Maybe 5 fold or more and or less, depends on the area and state.
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Old 03-28-2013, 06:55 PM
 
27,214 posts, read 46,754,781 times
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With storm Debbie we saw how important flood ins. can be...
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Old 03-28-2013, 06:58 PM
 
Location: North of South, South of North
8,704 posts, read 10,907,195 times
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Quote:
Originally Posted by CHASLS2 View Post
Looks like they are gonna jack up rates on flood Ins.
They should increase the rates. It needs to be funded to meet potential claims and it needs to be funded by the people purchasing the policies. And YES, "I" have a policy and I think I should be charged more for it.

People in the highest risk areas should be charged the most and the lower the risk area, the lower the cost.
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Old 03-28-2013, 07:03 PM
 
30,434 posts, read 21,271,177 times
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Quote:
Originally Posted by PriusH8r View Post
They should increase the rates. It needs to be funded to meet potential claims and it needs to be funded by the people purchasing the policies. And YES, "I" have a policy and I think I should be charged more for it.

People in the highest risk areas should be charged the most and the lower the risk area, the lower the cost.
Well more power to ya if ya wanna pay more. People are already priced out thanks to the high cost of Ins, i will just keep going bare.
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Old 03-28-2013, 07:06 PM
 
17,535 posts, read 39,141,385 times
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Quote:
Originally Posted by CHASLS2 View Post
Well more power to ya if ya wanna pay more. People are already priced out thanks to the high cost of Ins, i will just keep going bare.
Some of us don't have any choice with our mortgages, and if they raise ins. much more I don't know if we can keep our house! I wish I had the choice of going bare....
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Old 03-28-2013, 07:11 PM
 
Location: North of South, South of North
8,704 posts, read 10,907,195 times
Reputation: 5150
Quote:
Originally Posted by CHASLS2 View Post
Well more power to ya if ya wanna pay more. People are already priced out thanks to the high cost of Ins, i will just keep going bare.
Well we can't just subsidize everything in life. Things need to be paid for and it really needs to be paid for by the people causing the need for it more than anything. I mean most people need a car. Are we to subsidize that too? I understand the pain people feel when anything goes up in price. That's never fun. Maybe they can grandfather in existing homeowners and start changing the rates as homes are sold. That way buyers should be aware of what the true costs are for a particular house and make whatever choice works form them. Maybe?
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Old 03-29-2013, 04:00 AM
 
Location: Hernando County, FL
8,489 posts, read 20,648,553 times
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Those that built above the base flood level would see a drop in price and those 10 ' below flood level would see the biggest increase, seems fair to me. The below is for a $200,000 policy with $80,000 in content coverage.

Quote:
Under the new rules, designed to make the insurance program pay for itself, a home elevated a foot above the flood level in those zones would see a drop to $819 a year. But a home a foot below the flood level would be charged $5,623 a year, and one that’s 10 feet below the flood elevation would get a bill for $25,000 or more a year, Richardson said.
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Old 03-29-2013, 04:55 AM
 
Location: Tampa, FL
27,798 posts, read 32,448,899 times
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Quote:
Originally Posted by bentlebee View Post
With storm Debbie we saw how important flood ins. can be...
It feels like throwing money down the sewer. I had my place covered for a few years (not in a flood zone, about 5-10 miles inland from Tampa Bay) and couldn't see a need other than the manmade lake about 50 yds away breaking lose so I cancelled it.
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