Another reason this will be devastating.

[tndefender]

Seeing scenes of tens of thousands of homes at least partially submerged made me cringe, but for an additional reason. As an attorney for a major insurance company I realize that many, if not most of these homes, may not have adequate insurance coverage. The typical homeowners insurance policy covers wind-related damage, wind-driven rain damage, or damage from debris that's airborne, or a tree fallng on a house. It does NOT cover flood damage.

In order to have flood-related coverage you have to have purchased a policy that's underwritten by the federal government through the National Flood Insurance Program. Unfortunately many people do not purchase that even though it's relatively inexpensive and ubiquitously available. It's through the same agent that sells your standard homeowner's policy, but it's the government that provides the insurance.

Flood insurance is not required, regardless of where you live, and a lot of people just simply try to save a few dollars and hope that "it won't happen to me." If you live on the Southeastern or near a flood plain you would do well to consider this investment.

I just feel for all these poor, hardworking folks who may have just truly "lost everything."

[shorrock]

umm,

we have to have flood insurance here in florida. part of a requirement on the mortgage. In laws in LA just bought a house, and had to have the insurance even though they are in a 300 year flood plane to satisify the mortgage company. Think this is pretty standard everywhere in the US.

[traciepb]

I live in Florida and am not required to have flood insurance. I am building a home in Tampa as we speak, and flood insurance is NOT required..

[anniecros]

Interesting. My elderly mother could not purchase flood insurance because her property was not within a flood plane, even though the next door neighbor is within a flood plane that flooded about nine years ago.

Go figure.

[artist]

we don't either have to have it- think it depends on the mortgage co. and the flood zone you live in.

[tndefender]

To clarify, what I meant was that flood insurance is not required by law. A lender may well require you to have it.

[tailgater]

A little northwest of N.O.here, we are required to have flood insurance here a live in the 100 year flood plane. But I'm not sure if it would cover saltwater damage or due to storm surge.

[HurriCat]

We did not have to get it, but the guy buying the house next door (within 20 feet) was told he's in a "flood plain" and has to have the insurance. Well, my survey sheet signed-off on by the county says that MY house is not on a flood plain. I gave him a copy to send to his lender and they immediately shut up about it.

[NC George]

I have access to the FEMA Flood zone maps (street level for entire country) through a GIS class I'm taking. I looked yesterday, and most of Southern LA is in a flood zone that would require flood insurance for a mortgage.

Since Floyd in our area, you have to be elevated above the 100 year flood level in order to get a mortgage, so you see some mobile homes elevated 15 feet off the ground now (the previous ones at that location were obviously underwater in Floyd.) A lot of flooded homes were turned into parkland, as the homeowners were told if the rebuilt in the same location they wouldn't be reinsured, and wouldn't get paid again by FEMA in the event of a loss while uninsured.

[inotherwords]

We did not have to get it, but the guy buying the house next door (within 20 feet) was told he's in a "flood plain" and has to have the insurance. Well, my survey sheet signed-off on by the county says that MY house is not on a flood plain. I gave him a copy to send to his lender and they immediately shut up about it.

What might have happened here was what happened in my neighborhood: In the past few years, FEMA revised the areas locally that were designated as flood zones, and this has led to some confusion. A number of properties formerly not considered in flood zones are now in them and vice versa.

If you're in a flood zone and have a mortgage, you have to have flood insurance. If your mortgage is paid up, you can opt out of it and both windstorm if you so choose. I'm not recommending it, just saying that only under a paid-up mortgage situation can you elect not to have it.

[Deenac813]

Just as a little side note. 33% of all flood claims happen in "non" flood zones. I am not sure about other states but I know here in florida everyone is in a flood zone. However, some flood zones are not required by lenders to carry flood insurance. When we had Hurricane Irene here in 1999 about 25% of our flood claims were for "non" flood zones.