Did I Just Get Lucky??????

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Watching the Texas tragedy.......
A subdivision of houses 4 to 5 feet deep water in the front lawn.
A very sickening sight. Most don't have flood insurance and if they did it is about bankrupt anyways.

But wait. One house is on fire and no one can do anything but watch it burn.
Did this homeowner just get lucky???? It burned didn't it????? Will their insurance now pay for the loss????
 
Should federal flood insurance pay to rebuild houses in a flood plane over and over again? USA today had an article that some people have built their homes over and over again many time the value of the home.
 
I thought this thread was going in a whole other off-topic direction1
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In all seriousness, I guess it would depend on the cause of the damage.

Insurance: Lucky for you, Mr. AirgunSavant, the flood water prevented the house from burning down completely. Good news! As soon as you rebuild the entire house (which was destroyed by flood waters) we'll cover the cost of a new roof for you!
 
Originally Posted By: saginawmale50
Should federal flood insurance pay to rebuild houses in a flood plane over and over again? USA today had an article that some people have built their homes over and over again many time the value of the home.


I have no issue with your comment but that was not the jist of my post.
Its was since it burned will their homeowners policy pay...
 
Originally Posted By: gathermewool
I thought this thread was going in a whole other off-topic direction1
13.gif


In all seriousness, I guess it would depend on the cause of the damage.

Insurance: Lucky for you, Mr. AirgunSavant, the flood water prevented the house from burning down completely. Good news! As soon as you rebuild the entire house (which was destroyed by flood waters) we'll cover the cost of a new roof for you!


The house is gone... Nothing left but the foundation.
 
Originally Posted By: saginawmale50
Its like when the Coast Guard rescues people from a capsized ship, they dont then buy the owners a new ship.


That analogy is not comparable.
 
They will say that the house was already destroyed by flooding before the fire. Thus there is no loss.
 
Originally Posted By: AirgunSavant
Originally Posted By: gathermewool
I thought this thread was going in a whole other off-topic direction1
13.gif


In all seriousness, I guess it would depend on the cause of the damage.

Insurance: Lucky for you, Mr. AirgunSavant, the flood water prevented the house from burning down completely. Good news! As soon as you rebuild the entire house (which was destroyed by flood waters) we'll cover the cost of a new roof for you!


The house is gone... Nothing left but the foundation.


Before or after it was destroyed by flood waters?
 
Originally Posted By: AirgunSavant
Originally Posted By: saginawmale50
Its like when the Coast Guard rescues people from a capsized ship, they dont then buy the owners a new ship.


That analogy is not comparable.


Yea, I don't get it.
 
Originally Posted By: gathermewool
Originally Posted By: AirgunSavant
Originally Posted By: gathermewool
I thought this thread was going in a whole other off-topic direction1
13.gif


In all seriousness, I guess it would depend on the cause of the damage.

Insurance: Lucky for you, Mr. AirgunSavant, the flood water prevented the house from burning down completely. Good news! As soon as you rebuild the entire house (which was destroyed by flood waters) we'll cover the cost of a new roof for you!


The house is gone... Nothing left but the foundation.


Before or after it was destroyed by flood waters?



The truth? During, not funny but true. I'm wondering if the homeowner torched it???
 
Originally Posted By: mk378
They will say that the house was already destroyed by flooding before the fire. Thus there is no loss.


No doubt!!!
 
Once the federal government rescues everyone, how is it that the taxpayer should help to rebuild those that did not have flood insurance? If I get flooded, Im pretty sure I dont get free anything if I dont have insurance.
 
Originally Posted By: saginawmale50
Once the federal government rescues everyone, how is it that the taxpayer should help to rebuild those that did not have flood insurance? If I get flooded, Im pretty sure I dont get free anything if I dont have insurance.


What makes you think the feds will pay to re-build a home that did not have flood insurance. They won't.... the most they will do is offer SBA loans.
 
Last edited:
Flooding might have caused an electrical problem, which may have lead to the fire.

Probably not covered.

And even if it wasn't related, insurance will probably only cover a portion, since it was already ruined.

The ideal situation would be for the house to catch fire the day before the flooding
 
Originally Posted By: Nick1994
Flooding might have caused an electrical problem, which may have lead to the fire.

Probably not covered.

And even if it wasn't related, insurance will probably only cover a portion, since it was already ruined.

The ideal situation would be for the house to catch fire the day before the flooding


+1
 
Worse case scenario, you pay both deductibles and let them fight it out.

Generally, you won't get a building permit if your house has flooded twice and or gone over a large percentage o of cost in damages.
 
Originally Posted By: philipp10
Originally Posted By: saginawmale50
Once the federal government rescues everyone, how is it that the taxpayer should help to rebuild those that did not have flood insurance? If I get flooded, Im pretty sure I dont get free anything if I dont have insurance.


What makes you think the feds will pay to re-build a home that did not have flood insurance. They won't.... the most they will do is offer SBA loans.


This is exactly the case. It has been explained to us several times by officials during this storm. I would not live here without flood insurance. Plenty of folks willing to risk it though.
 
According to my insurance company, I have to carry the entire value of my home on my policy which is bull to me because the lot won't burn down and it doesn't cost $250,000 to build a single story 3 Br/ 2 Bath house.
Thier reasoning is if the house is deemed to be in a location unsuitable for reconstruction or damaged by high toxic material of Sinkhole ( which believe it or not- coverage I have) and they have to replace with a home of same value which is more location than construction. So I guess insurance companies consider this or consider how to get more money out of me.
 
Originally Posted By: Nick1994
Flooding might have caused an electrical problem, which may have lead to the fire.

Probably not covered.

And even if it wasn't related, insurance will probably only cover a portion, since it was already ruined.

The ideal situation would be for the house to catch fire the day before the flooding


I see a s!ow racheting down of expectations as the years pass. People are starting to accept being dealt with in an unethical way. You see it in insurance and banking. I don't know if millennials are responsible or what is going on.

Do you really think that's a reasonable scenario? Maybe we see an insurance adjuster career in your future? Or you could work at wells Fargo?

People need to get their fight back
 
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