Flood Insurance

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by mouse1976, Oct 11, 2011.

  1. mouse1976
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    mouse1976 Rookie

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    Hey there,

    I am learning basic stuff about insurances right now and I am unable to answer the following question:

    what characteristics of insurable risk is there for flood risk for cars but not for homes?

    - loss is accidential
    - definite and measurable
    - no catastrophe potential

    My guess would be that the catastrophe potential is smaller for cars. What would you say?

    Thanks:)
     
  2. Serithi
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    Serithi Rookie

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    This is really helping and informative for me..
    Such insurance is necessary for your own safety... And one should avail this option if they get one...!!!
     
  3. Mr. H.
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    Mr. H. Diamond Member

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    Pick up a phone. Talk to an insurance agent.
     
  4. Beria
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    Beria Member

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    Insurance crooks get rich off peoples fears!
     
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  5. editec
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    editec Mr. Forgot-it-All

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    Talking to guy thinking about buying a home in FLA yesterday.

    He told me that (just!)FLOOD INSRANCE in FLA on a $50,000 house would like $1,800 a year.

    That amount did not include the normal homeowners policy that was JUST flood ins.


    Holy smokes!!!

    Well a lot of you folks may not believe that Global Weirding is really happening but your insurance companies obviously disagree.
     
  6. waltky
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    waltky Wise ol' monkey Supporting Member

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    Flood insurance program under water...
    [​IMG]
    The country’s flood insurance program is sinking. Rescuing it won’t be easy.
    July 16,`17 — Time after time, as the river has risen and the water has crept up Roosevelt Street, Leni-anne Shuchter has fled the white clapboard home she bought more than four decades ago.
     
  7. Toro
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    Toro Diamond Member

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    When I first bought flood insurance 15 years ago, it cost me $350. Last year, it was $1800.
     
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  8. debbiedowner
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    debbiedowner Silver Member

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    Not on a $50,000 house in Florida, no way. Here is an average chart. For $1800 per year on Flood you should be insuring over a $500,000 home.

    Average Cost of Flood Insurance 2017
     
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  9. debbiedowner
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    debbiedowner Silver Member

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    In Florida, you buy a regular homeowners HO-3, fire, theft, etc and you have to purchase a separate wind policy and depending whether or not you're in a flood zone you may or may not have to get a flood policy. It is recommended though.
     
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