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Flood insurance coverage

Insurance premiums rising, become deal breakers

November 15, 2013

Skyrocketing flood insurance premiums have scuttled a few local real estate deals and have some property owners facing rate increases of several hundred percent as a 2012 federal law takes effect....

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BeRight

Nov-16-13 9:59 AM

Super Storm Sandy: "Transparency is woefully lacking. We don't know where the money is. We know people have been approved for grants, but the money has not been distributed," said New Jersey Assemblywoman L. Grace Spencer, chair of the environment committee.

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BeRight

Nov-16-13 9:57 AM

We are bailing out all the Super Storm Sandy victims who had no insurance because the Democrats needed a new victim to bail out and they guilted the Repulicans to go along.

Of the 50 BILLION appoved for Sandy relief only 6 Billion has been spent. The Democrats set up one heck of a SLUSH fund for their voting block.

We will be hearing about mis-spent relief funds for years. Happens everytime the Dems get invovled with something like this. Make them feel good and we all pay the price.

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Tessie

Nov-16-13 9:51 AM

Insurance companies are not in the business of providing care, repair, or replacement of your home, car, boat, or life. They are in the business of making money for their shareholders. Period. And they've convinced us and the government that it's necessary. I carry insurance only because I'm required to by law. I don't expect it, or anyone else to bail me out if there's a flood, a tornado, a derecho, earthquake, or any other catastrophe.

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oldhickory

Nov-15-13 2:45 PM

Here is a Thanksgiving Sampling of the Hypocrisy of Congressman Bill Johnson, using govtrack.us I discovered that he voted for the original act in 2012. He also voted for amendments that will increase regulations in unrelated attachments. He claims that he voted for an amendment to delay the implementation of the Biggert-Waters Flood Insurance Reform Act of 2012. If so, I would like to know which one because I unable to find any that survived the assignments to committees. Lies and hypocrisy seem to be the congressman's code word. As our friend hockeypuck would say...there is no cure.

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MaryPoppins

Nov-15-13 2:13 PM

One person's opinion: If I own a boat, I get boat insurance; same for a car and a house; even life.

If I lived in a flood plain; I definitely would buy flood insurance. FEMA will not help at all.

For those who continue to have property near the rivers in the USA; homes or businesses; you know, and I know, you will be flooded more than once.

The choice is yours....remain or move.

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bobcatfan

Nov-15-13 1:56 PM

Insurance needs to be regulated? Are you serious? It's one of the most regulated things in this country. Nothing can be done without approval from a state commissioner. You are obviously clueless.

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Lizard

Nov-15-13 11:48 AM

We should have Obamainsurance proposed! The govt could take over the insurance market totally. If you like your current plan you can keep it. But, you'll get a cheaper and better policy through the Obamainsurance market place website: insurance.gov. If you have lower income, it will be subsidized but the govt will FORCE all people who don't live in flood plains to buy flood insurance.

It's BRILLIANT!!

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watchdog1

Nov-15-13 11:39 AM

Insurance,of all kinds, is nothing but a big racket and needs to be regulated!

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BeRight

Nov-15-13 11:26 AM

I remember seeing an interview with a Sandy survivor. He complained that his insurance company was screwing him and only paying $7,000 on a totally destroyed house. It made good news that night but a follow-up found out that he and many other did not carry flood insurance.

If you are going to live in the flood plain Flood Insurance becomes very simple: If you buy flood insurance, you are betting that you will be flooded. If the insurance company writes you a flood insurance policy, they are betting that you will NOT BE FLOODED.

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bobcatfan

Nov-15-13 9:32 AM

Blame the feds entirely for this. They set the rates. They set the rules.

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arearesident

Nov-15-13 9:00 AM

Barack alone does not deserve this blame. Over 90% of the republican led house voted for it. And of course the insurance and bank lobbies led the charge on this bill. Another way both parties squeeze the middle class.

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living

Nov-15-13 8:52 AM

these policies are outrageous and should be illegal.

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hockeypuck

Nov-15-13 7:13 AM

Hope and Change, baby!! How do you like Barack now?

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mrhomer

Nov-15-13 5:39 AM

They announced a couple months ago that we would all be paying for Sandy and the east coast...also most have stopped paying for wind and hail....but theres another surprise coming with our auto insurance in late Dec. since they raised the liability in Ohio...like they said...unless we all pay with cash we are screwed.

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