skymama 37 #1 August 16, 2006 I took a minute to actually look at my new property insurance packet that came in the mail instead of just throwing it in the drawer like I usually do. In it, I found that I get to pay an additional $70 on my insurance to cover the losses that other people had to their homes in the 2004 hurricanes. Lucky me! I also see that I'm not covered in case of flood. Of course, that would be silly because it never floods in FL, right? However, I am quite relieved to find that I am covered for future volcanic eruptions and weight of ice, snow and sleet. I can sleep well tonight now. She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
BillyVance 34 #2 August 16, 2006 Quote I also see that I'm not covered in case of flood. Of course, that would be silly because it never floods in FL, right? No insurance company will cover flood damage in a standard policy, as far as I know. You would have to get a separate policy, sometimes through the state... Lucky me, I live on a dam-controlled lake, but above flood stage so I don't need flood insurance. One day it rained so hard the lake rose 7 feet, inundating most of my backyard but my house was safe. That happened to be a 100-year flood."Mediocre people don't like high achievers, and high achievers don't like mediocre people." - SIX TIME National Champion coach Nick Saban Quote Share this post Link to post Share on other sites
skymama 37 #3 August 16, 2006 Oh, I know I'd have to get a separate policy. I just think it's stupid that I'm covered in case of volcano but not a flood. The insurance company really went out on a limb to cover me with that one!She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
BillyVance 34 #4 August 16, 2006 QuoteOh, I know I'd have to get a separate policy. I just think it's stupid that I'm covered in case of volcano but not a flood. The insurance company really went out on a limb to cover me with that one! Yeah, you got that right... a volcano??? Nearest one is probably in Mexico... "Mediocre people don't like high achievers, and high achievers don't like mediocre people." - SIX TIME National Champion coach Nick Saban Quote Share this post Link to post Share on other sites
lawrocket 3 #5 August 16, 2006 QuoteI found that I get to pay an additional $70 on my insurance to cover the losses that other people had to their homes in the 2004 hurricanes. Ah, yes, the wonderful world of pooled risk. QuoteI'm not covered in case of flood. Talk to Congress. They made flood insurance exclusively governmental. QuoteI am covered for future volcanic eruptions and weight of ice, snow and sleet. I don't know why you'd need it, but it sounds like something any husband can use to cope with a wife's mood changes. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
jshatzkin 0 #6 August 16, 2006 My insurance company informed me that I am not covered in the case of a nuclear attack, or any terrorist related damage. If Hezbollah were running through my neighborhood bombing my house, I think the last thing on my mind would be collecting on the insurance Jen Quote Share this post Link to post Share on other sites
stitch 0 #7 August 16, 2006 Is there a "Bobbi" clause???"No cookies for you"- GFD "I don't think I like the sound of that" ~ MB65 Don't be a "Racer Hater" Quote Share this post Link to post Share on other sites
PLFXpert 0 #8 August 16, 2006 You're so cute. And......I can't believe you didn't re-review your policy during the major hurricanes of '04! I live at the beach, hunny, and I don't have flood insurance. I'm not in a flood zone, and my property is supposedly on the highest ground. Flood insurance can be REALLY hard to obtain in some places in Florida and when you do find it, it's really expensive. Such is life. Paint me in a corner, but my color comes back. Quote Share this post Link to post Share on other sites
PLFXpert 0 #9 August 16, 2006 QuoteI just think it's stupid that I'm covered in case of volcano but not a flood. Ummmm, didn't you see the movie? I INSISTED on volcano coverage. Paint me in a corner, but my color comes back. Quote Share this post Link to post Share on other sites
goofyjumper 0 #10 August 16, 2006 QuoteI took a minute to actually look at my new property insurance packet that came in the mail instead of just throwing it in the drawer like I usually do. In it, I found that I get to pay an additional $70 on my insurance to cover the losses that other people had to their homes in the 2004 hurricanes. Lucky me! I have dealt with insurance and insurance law for about 2 years now and what I have learned is that the whole flood thing is rediculous. You have to pay for a separate coverage in case you do get a flood. But remember that if you have a home warranty, it may cover any flood that happened due to faulty pipes or what ever may go wrong. So keep that in mind. Also, call your home owners insuance company every year to get an appraisal done to your home on what the value to rebuild your home would be if it was destroyed. In other words, homes go up in value every year or more. But your insurance doesn't unless you call them and request a new appraisal for your home. So if you took out a policy when you first buy the home, they appraise it at a value of how much it would cost to rebuild at that time, not what the market value is. So it is important to keep your policy updated, because the cost to rebuild a home goes up every year also. Example: the market value of your home may be $300,000. But the cost to actualy re-build the home may only be $150,000. But 2 years from now your home may be worth $400,000, so the cost to re-build it may be $200,000. But if you do not update your insuance every year the original cost to rebuild the home may only be $150,000, and that is all your insurance company will pay! If you are confused PM me.----------------- I love and Miss you so much Honey! Orfun #3 ~ Darla Quote Share this post Link to post Share on other sites
skymama 37 #11 August 16, 2006 QuoteIf you are confused PM me. Thanks, but I get it. Everyone in my family is either a builder or has a real estate license (including me) so I know about most of this stuff. I'm basically just whining. She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
skydemon2 0 #12 August 16, 2006 And doing a swell of a job too!!! I almost passed you some cheese!! Beauty is only skin deep, but ugly goes clean to the bone! I like to start my day off with a little Ray of Soulshine™!! Quote Share this post Link to post Share on other sites
plowdirt 0 #13 August 16, 2006 Damn Mamma, you lucked out. My insurance went out of buis, but Im covered till the end of Jan 07. My poor neighbor got doubled. Everything is going up you think they were jumpers or something. Good luck Quote Share this post Link to post Share on other sites
SpeedRacer 1 #14 August 16, 2006 QuoteI took a minute to actually look at my new property insurance packet that came in the mail instead of just throwing it in the drawer like I usually do. In it, I found that I get to pay an additional $70 on my insurance to cover the losses that other people had to their homes in the 2004 hurricanes. Lucky me! I also see that I'm not covered in case of flood. Of course, that would be silly because it never floods in FL, right? However, I am quite relieved to find that I am covered for future volcanic eruptions and weight of ice, snow and sleet. I can sleep well tonight now. MOst home owners insurance doesn't cover flood damage. But sometimes you are required to get flood insurance if you live in a designated Flood Zone, ie, a place that has a high risk for flooding. I love that line about insurance against "Acts of God" so, do they sue God for you when that happens?? How much money do I get if I have been "smote with fire and brimstone"?? Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites
Andy9o8 2 #15 August 16, 2006 QuoteHow much money do I get if I have been "smote with fire and brimstone"?? See "Volcanos" Quote Share this post Link to post Share on other sites
Andy9o8 2 #16 August 16, 2006 It gets better. This raises an issue as to the 2 most common causes of damage to homes during a hurricane: wind and water. Wind damage is generally covered by standard homeowners' insurance policies. But they usually exclude damage from water enters the house from the exterior. The ambiguity is: what about when the wind makes a hole in your roof or wall, allowing rain to come in and damage the interior of the house and/or the property inside the house? The answer is: there is no definitive answer, and it's being hotly debated. Below is a link to an article about a court case that doesn't bode too well for homeowners' insurance policy-holders. I suggest you contact your insurance agent ask find out what your policy does and does not cover, so that you can decide whether your present coverage is adequate to cover anticipatable losses in the event of a hurricane. http://news.yahoo.com/s/ap/20060815/ap_on_bi_ge/katrina_insurance Quote Share this post Link to post Share on other sites
skymama 37 #17 August 16, 2006 QuoteBut sometimes you are required to get flood insurance if you live in a designated Flood Zone, ie, a place that has a high risk for flooding. Yeah, we build in an area where some of the houses are in flood zones. I've spent countless hours sending paperwork to the government at our customer's requests to get them excluded from flood insurance. It's the biggest PITA and takes months for a decision. These are all $500,000+ homes...I don't think I'd want to take that risk with a house that expensive!She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
cruzit 0 #18 August 17, 2006 We are obligated to have insurance if we finance a home, but the first time you have a legitimate claim, the insurance company penalizes you by jacking up your rates, or canceling your insurance, regardless of how long you have been paying premiums without a claim. Can you say shill game, boys and girls. Quote Share this post Link to post Share on other sites
lawrocket 3 #19 August 17, 2006 QuoteThese are all $500,000+ homes...I don't think I'd want to take that risk with a house that expensive! Flood insurance is limited to $250k for residential building and $100k for contents. Some private companies give excess insurance, but you can expect to spend a cool grand per year and pay a higher deductible. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
billeisele 130 #20 August 17, 2006 this hurricane wind vs. water damage thing is being settled now - one judge has said tough shit if the wind opened the house but the flood water did the damage then no $$ hurricane Hugo - 1989 Charleston SC - knocked over 3 trees that hit the house and the rain came in, the insurance paid for everything since it was not "flood" water so if it looks really bad and the flood water is coming, and you were crazy enough to stay, just light a candle so you can see and let the damn thing burn down - you'll be coveredGive one city to the thugs so they can all live together. I vote for Chicago where they have strict gun laws. Quote Share this post Link to post Share on other sites
