Quote:
Originally Posted by TNLAKEPANDA
Any break in flood insurance cost will come from the tax payers! The program has not been solvent for years now. Every new large flood event gets more expensive. Cost to make repairs are much higher than anyone would ever pay out of their own pocket. The should be no subsidy for secondary homes (which most beach front homes are).
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Zing Government created this problem and withdrawing suddenly now will create an even bigger problem. Many economies dependent on tourism have been built up, homes constructed and businesses started because of availability of Flood Insurance. Many areas not prone to flooding are being penalized because of their location, not their flood history. A second homes and investment properties should be treated the same as primary homes. Risk is exactly the same. This has become a political issue more so than an insurance issue.