Quote:
Originally Posted by villagerjack
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.
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Isn't this the same as sinkhole insurance? Now we can no longer buy it because private insurance providers won't offer it because of fraudulent cases?
I am not trying to argue, just to understand. It seems that rates go up when the risk go up...the government cannot underwrite everything. In Ohio people along the Ohio river would flood, rebuild and flood again.