Flood Insurance Warning

[Bill Collector]

I haven't been on here in a while because my house was flooded back in August. I had flood insurance for my house but when I called my agent after the flood she informed me that i didn't have contents coverage. WTF? Who sells someone a flood insurance policy and doesn't let the policy holder know that contents is a completely separate policy? My agent and a ton other agents, that's who. So after losing my mind, I called a few weeks later and added contents coverage. It increased you annual premium $64. For an extra 5 seconds that it would have taken her to ask me if I wanted contents coverage and $64, I could have had $50,000 to replace everything I lost. So, all that rambling to say, if you have flood insurance you better call and make sure you have contents coverage. If you live in a flood zone and don't have flood insurance, get it. I can show you countless people that are ruined financially because of this flood and no insurance.

[hntrpat1]

Yep my buddy in zachary i was telling you about said the same thing. between fema and insurance the middle class is getting screwed

[REBEL DUCK]

In Mississippi it can be on the same policy. Most folks that are forced to buy it don't want contents they just want to make lender happy. If it's a preferred risk it gets contents no matter what. That's ms

[camlock]

I'm depositing my check today...it was surprisingly a simple and easy process....they devalued my property $13,000 even though the collected premiums for full value all these years ( < NOTHING SHORT OF LEGALIZED ROBBERY)

But the process went kinda easy and I'm getting another check for a second inspection for some needed repairs the first adjuster missed.

[stang67]

Every year when I paid my flood ins premium, it gave me 2 choices for how much contents coverage I wanted. I never remember contents not being a part of it.

[Deltaquack]

Also, in MS if you are in a flood zone, you are required by law to have Flood Insurance now. I had contents on my cabin and in the end left several things that i knew insurance would replace b/c it was just too hard to move in a boat and i didn't want it to fall out of boat and then not be covered if by some chance the flood didn't get that high.

On another note, you need to change insurance agents.

[1010]

I would encourage folks that have room to get a FEMA trailer!
I haven't heard what will happen to the trailer after but it could be offered to the home owner first.
note I said could be!!
If FEMA needs to cross adjacent landowners with the trailer or power, and W&S has to come from across the adjacent landowner has to sign a very simple form granting access! Even the trailer can be partially on the adjacent landowner as long as he signs the one page form!
they would make awesome deer camps!! Or you might could sell and put a few $$ in your pocket!!
you just need to show (to FEMA) how you are making progress to get back into your residence.
FEMA will clean up the trailer spot and dirt back to original condition. Just keep in mind this is temporary only!
just saying!

[1010]

on a second note my prayers for all those affected! EPIC doesn't cover how many houses got wet! And debris is still every where right now!! Folks sleeping in tents!! I had no Idea how many and how big this flood was!

[REBEL DUCK]

Cam lock this is a good lesson to everyone that reads this. What you had was a ACV policy, actual cash value. Unless your policy is a replacement policy they are going to depreciate when they make the adjustment. People need to read their polices when they get them and ask the agent on the front end and they want be surprised on the back end.

[NyssaAquatica]

Didn't they recently reclassify much of New Orleans as being outside a flood zone? Who makes these decisions?

[deltadukman]

As an insurance agent you're dammed if you do, dammed if you don't. Many times we are contacted on a home closing and the client says "I don't need any flood coverage but the bank is making me have it". I give them the premium with contents and they say "contents, I don't need contents. Make it as cheap as you can get it to KEEP MY NOTE DOWN". I remove contents. House floods and they don't have contents on the flood and they get upset at us. I have started making people sign plain English documents that they specifically want to exclude certain coverage's. I have customers with flood and no contents and they know this, but you can bet they forget that when it comes claim time. Most all flood I've seen has a box to add/increase contents or increase the amounts on dwelling and contents on every renewal.

[stang67]

I'm liking my agent more and more.

[ScottyLee]

As an insurance agent you're dammed if you do, dammed if you don't. Many times we are contacted on a home closing and the client says "I don't need any flood coverage but the bank is making me have it". I give them the premium with contents and they say "contents, I don't need contents. Make it as cheap as you can get it to KEEP MY NOTE DOWN". I remove contents. House floods and they don't have contents on the flood and they get upset at us. I have started making people sign plain English documents that they specifically want to exclude certain coverage's. I have customers with flood and no contents and they know this, but you can bet they forget that when it comes claim time. Most all flood I've seen has a box to add/increase contents or increase the amounts on dwelling and contents on every renewal.

sounds like we have the same customers. I thought it was just me, who dealt with this!

[Bill Collector]

I think that's great that you make your customers sign a waiver because I was never given an option of contents coverage and for $60/yr for 50k coverage, I would have been a fool to decline it.