Quantum Windbag
Gold Member
- May 9, 2010
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Good point. Yes, flood insurance is underwritten by the Federal government. And it's a good program. I'd like to see it changed to catastrophic insurance so it would cover any devastating act of nature. Tornadoes, earthquakes, etc.If you live near a flood zone, you probably buy flood insurance. Something I was surprised to hear was that a while back after a big flood the insurance companies said they could no longer finance flood insurance. Sooooooo...FEMA finances it, which means that we do. I wonder if people who buy flood insurance know this?
FEMA: The National Flood Insurance Program
I'm quite sure that many people actually get some kind of funding from the federal government and have no idea that they do.
You think flood insurance is a good program? Why is a program that encourages people to build homes in flood plains a good idea?