Categories
Flood Insurance

Video Friday: Federal Flood Insurance Inequities

Although this news clip is Michigan-specific, it goes a long way toward explaining the extended debate over the federal flood insurance program. The people along the Gulf Coast need it . . . but the people of Michigan and other areas feel like they’re paying for it. Unlike healthcare, which attracted the national radar, this is a twisted insurance question with no good solution in sight that gets minimal air play. Given the numbers cited in the video, however, it’s difficult to dispute that the current system is fraught with inequities.

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By Beth

Beth Foster, 27, joins our team from the field of real estate and property development. Originally from the east coast and now living in Florida, she is familiar with the overlap in homeowners insurance and specialty policies that cover extreme weather events like hurricanes and flooding. "People don't find out the gaps are there until something big happens and then, at the worst possible moment, they find out they aren't protected," said Blair. "Most folks just renew their policies every year and don't evaluate the terms. You'd be surprised how many people insure things they don't even own any more!" Contact Beth at info@cheapinsurance123.com with your homeowners and specialty insurance related questions.

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