Flood Insurance Question(Raymond?)

[fishwater]

That's the only way to do it, if they just made the state affected premiums go up your payment would be about 1 million a year because of katrina and rita. I have flood insurance on my house not in a flood zone i, but its only about 400 a year i will never not have it, I have heard we never thought it would flood way to many times.

[TarponTom]

Originally Posted by fishwater

That's the only way to do it, if they just made the state affected premiums go up your payment would be about 1 million a year because of katrina and rita. I have flood insurance on my house not in a flood zone i, but its only about 400 a year i will never not have it, I have heard we never thought it would flood way to many times.

A lot of areas will be impact. The flood rates have a 5 year span to hit actuarial rates (rates on the private market with a profit included). I wouldn't purchase any property in any area where flood insurance is required and its not geographically located inside a federal protection levee system that is certified. I talked to someone yesterday who recieved a quote in Slidell, LA for 250k and 50k contents for 23,500 per year. Its going to be a blood bath for many parts of Louisiana.

[lsuriot]