Some will be covered some won't, repetitive loss clause will apply. Any property that has flooded two times prior is not eligible for flood insurance unless it is elevated. National Flood Insuarnce Program pays owners up to $30,000 to demolish or elevate after the second loss and that includes claim. Very few people know that the NFIP is in worse financial shape than social security or Medicare. It is one more government boondoggle that the taxpayers are footing the bill for.
|