Removed By Request.
Removed By Request.
This discussion has been locked.
StormChaser : Instead of simply insuring your home, you are subsidizing others. Wealth distribution.
KTownTexican : Welcome to casualty insurance where yu bet your premiums that your car wii be wrecked,or that your house will flood or be destroyed by fire, tornado, etc while you are doing everything you can to prevent those things from happening.
dan4182: Insurance companies are like casinos.. the house always wins... not talking about my house.
|
TEXASGIRLMAMMA
Flood insurance Ugh. I just got my renewal for my flood insurance policy. $727.00 😳 This house has never flooded, although we've come close in the last 5 years and were not in a flood plain. 2 years ago (maybe 3?), it was $410.00
StormChaser : Same!!! My mouth dropped when I saw the cost with the renewal in July.
MissAmericanPie : Also, for the contents, they give you depreciated value, not replacement value. So if you have a 5 year-old frig, they give you 50% of what you paid for the frig. Would be hard to get to $100k.
buffaloglenn : Yep! Same with HO insurance. People have to check terminology on their policies. If it says "cash value" to replace a roof and not "replacement value", they will depreciate your roof by age and if it's old, you won't get enough to replace it - AND you add your deductible in on top of that. It's all a game…
|
|
TEXASGIRLMAMMA : It's where the X-men live.
ExCTGuyInTX : Well, in that case, they for sure should not need flood insureance.
buffaloglenn : Yep! Same with HO insurance. People have to check terminology on their policies. If it says "cash value" to replace a roof and not "replacement value", they will depreciate your roof by age and if it's old, you won't get enough to replace it - AND you add your deductible in on top of that. It's all a game…
MissAmericanPie : Yes just used geico as my broker to find house insurance that pays full cost of roof regardless of age since my roof is coming up on 10 years. I loved liberty mutual with 2% wind deductible but was struggling that they only did cash value. What is interesting is geico sells liberty mutual for home as well but they have several others that do full roof replacement
StormChaser : private flood insurance offers same coverage, allows payments, and is much cheaper. You don't need FEMA flood insurance.
|
|
TEXASGIRLMAMMA : According to FEMA, Zone X: "Area of minimal flood hazard, usually depicted on FIRMs as above the 500â€year flood level. Zone C may have ponding and local drainage problems that don't warrant a detailed study or designation as base floodplain. Zone X is the area determined to be outside the 500â€year flood and protected by levee from 100†year flood." Source: www.fema.gov/glossar y/zone-c-or-x-unshad ed
Maver1ck : Thank you! This discussion has been locked.
« Back to ChatViews: 2,160
# Replies: 76