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Thursday, August 31, 2017

Insurance Won’t Cover Damage To 80% Of Homes Flooded By Hurricane Harvey

When the flood waters left behind by Hurricane Harvey eventually recede, they will leave behind billions of dollars in property damage. However, a large majority of homeowners will likely have to spend their own money to make their homes livable again. 

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8 comments:

  1. AnonymousAugust 31, 2017 at 5:56 AM

    Imagine that, insurance companies don't pay.

    ReplyDelete
  2. AnonymousAugust 31, 2017 at 6:17 AM

    Not so much that they don't pay, it's that they don't offer a comprehensive plan with the standard homeowners' insurance policies. For that, you have to pay extra, sometimes a lot extra. Some can't afford it, some don't know about it, others are willing to gamble.

    ReplyDelete
  3. AnonymousAugust 31, 2017 at 6:29 AM

    I was reading Houston's mayor's FB page and someone said in their development of 42 houses only one had flood insurance.
    The cost is what keeps people from purchasing it. I know someone in Selbyville whose mortgage required it. Over $8000/yr and this is a small, modest home valued at less then $100,000.

    ReplyDelete
  4. AnonymousAugust 31, 2017 at 6:38 AM

    Floods have never been part of regular home owner insurance.. again no one reads their policies. Flood insurance is through the Fed gov. and it is minimal in coverage. Sometimes it is mandatory to obtain a mortgage..if you live in flood plain.

    ReplyDelete
  5. AnonymousAugust 31, 2017 at 8:01 AM

    "Act of God"

    ReplyDelete
  6. AnonymousAugust 31, 2017 at 8:20 AM

    Insurance is a scam and tax on poor people.

    ReplyDelete
  7. AnonymousAugust 31, 2017 at 8:43 AM

    Why buy flood insurance for a once in a thousand year flood? It would be a waste of money. You can fix, or replace everything damaged or destroyed by the flood with what you would have paid for the insurance over the 30 years that it took to pay off your house.

    ReplyDelete
  8. AnonymousAugust 31, 2017 at 10:07 AM

    They aren't responsible for acts of war.
    Everybody knows that if you read the insurance rider.
    Geez

    ReplyDelete

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