Why many Helene flooding victims don't have flood insurance
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- Опубликовано: 4 окт 2024
- FEMA says only 4% of U.S. homeowners have flood insurance and many of those affected by Helene flooding are just discovering they don't have coverage for their homes. USA Today money reporter Bailey Schulz joins CBS News with more.
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60 minutes just did a story on insurance companies straight up defrauding their customers…
Insurance companies are not your friend.
Been there done that. They did not cover mold. So get your house dried out fast.
@@SullyAfgarshe that's what they do..
In my state, if you financed your home, live in a Flood Plain, you are required to have flood insurance.
You would think this would be mandatory on that side of the country.. All those lives ruined
That's you alot people don't have it they can afford it but you in those states you assume the risk
@@easyviews It depends on the height of the water table. Fema offers maps with the info. Don't forget, most of the country are not on plateaus(Asheville) surrounded by mountains, allowing huge amounts of rain water to come down at highly accelerated speeds. A lot of factors although this was a perfect storm.
@@carolaguilera6911 ??
@@lorimcquinn3966 Perfect Storm is absolutely right .. but thats bull maan. The height of the water., Really?! That sucks.. Insurance companies getting rich by wording things the way they do. Thats sad
Insurance companies don’t cover flood insurance, you can’t even buy it with most insurance companies. If the water comes from inside the home like sump pump hole it’s covered but not from outside water.
Yes, if you want that coverage, you need to get federal flood insurance
FEMA didn't map out that area as a flood zone. That's why!
Yes, because a lot of states are fighting new flood maps because their citizens don’t want to pay for flood insurance
Stop rebuilding in flood zones. Stop thinking that insurance will cover it.
A former vice president who produced two documentaries about America's future natural disasters is becoming a prophet.
Insurance is such a scam!
In this case its a necessity
Until you need it then you cry that you don't have it.
Don't buy it
@@rooster1012 Thou shalt not state the truth to simpletons. They will never understand by choice.
Read the fine print, call your carrier or agent. It is their duty to tell you what is excluded.
Reporter did not sound like she had any idea what she was talking about.
She does
@@carolaguilera6911 Didn't sound like it.
THEY ALL SOUND LIKE THAT ITS INFURIATING!!!! I CAN"T WATCH THE NEWS
This is the capitalism that yall love so much.
They also do not cover mold. I found this out the hard way. Try those houses out fast.
If you have a mortgage of, say, $50,000 and your home gets destroyed as many did, and you don't have flood insurance, and your policy won't pay off, are you still on the hook for the $50K?
Yep.
Absolutely its the same as a car
@@easyviews
Sounds like grounds for filing personal bankruptcy.
Just like when you buy a car and it's totaled and the loan is not paid off you still owe it
@@carolaguilera6911
The difference is, if you have car insurance, they do pay. You might not get the value of a new car, but something.
Homeowner insurance can deny the whole thing.
It had already been raining for 3 days due to a nontropical weather front before Helene even arrived. The ground saturated rivers and streams already at high levels but would have been okay except for the remains of a cat 4 hurricane. The timing could not have been worse there was simply nowhere for the water to go.
Insurance companies are gambling on the odds that they take in more money than they have to payout. They use your insurance payments to invest to make money on the stock market and other investments. Insurance companies aren’t charities, they are there to make money; they aren’t there like a good neighbor.
I have flood insurance. Windstorm insurance is required by banks when you have a mortgage where I live also. When I paid my house off I dropped the windstorm as it jumped to $10,000 a year. That's crazy. Flood runs about $4000. If I were up in the mountains living in a place hundreds of miles from the coast that didn't have a history of catastrophic flooding I wouldn't have it either.
10k? Sheesh where do you live so I don’t go 😂
@@easyviews The Florida Keys. Insurance is a mess all over the state and we have a governor worried about "woke this, woke that."
@@user-qn4zh2pw6m I agree. They just need to do their damn jobs and make life as easy for us as possible. We gotta teach the young how to vote and to revolt when things go poorly.. This “woke” mess is a distraction from the real issues day to day tax paying folks deal with.
You're effing crazy to live in the keys.
The housing market is going to skyrocket.
@@Dustin-zd6zn it already is
Good luck finding a new home with everyone else doing the same. People who can should just move far away to a non-flood zone.
This is were the Governors will have to step in because of the Insurance sky rocketing prices so many people couldnt afford it. There are so many people who will be homeless if nothing is done.
Back in the 70s The Small Business Administration was empowered to issue low interest loans to assist homeowners in getting bac, on their feet.
Everyone needs flood insurance... only very very few can get away without it.. flash floods via rain events hurricanes tornados street flooding roof failures etc... If everyone had it we could cover more homes towns and infrastructure needs
Overbuilding creates new flood zones in older neighborhoods.
I’m trying to figure out how GROWN ADULTS don’t understand that flood insurance is different and separate from homeowner insurance……..???
C’mon people - you’re not 17-year-old children………🙄
I think there are going to be many more homeless people if flood insurance costs $8000 a year and with the climate change there could be multiple floods each year. It would be wise not to move where there is a flood plain or near a river or near the coast. However, there are floods in Dubai and that's a desert region. It's quite scary to see the destruction Helene did as complete homes were washed away without a trace. I'm not sure how many people would want to rebuild in that same area where homes were washed away as there's no way of telling when the next hurricane will hit. I'm really shocked as I didn't know that many areas were so vulnerable to heavy rains. I hope the government can help all those people who lost their homes and everything else they had.
FEMA flood insurance was super cheap till 2015 - 2016... the 1,000 year floods across the country SC etc.... caused FEMA to order all new flood maps to be updated.. since 2016 flood insurance cost has tripled.. I paid 254 dollars a year in 2010 I paid 425 dollars in 2016 I paid 850 dollars in 2018 same house same coverage 150k policy..
SCAM
My mom had flood insurance in a place with no rivers. You have to be very careful because if you have a flood, the Insurance may say it is WIND damage and not cover it. My wife is riding out the storm in NC, and says they have not had power for 8 days and not any help to be seen. Where is the authorities.? These are tax payers and deserve first class service. Thank God I live in a place with no tornadoes , no hurricanes, no floods and no nothing, totally Boring.
10-4-2024
My city's official high temperature. 99°
Unofficially at my house 110°
10-year high temperature range
coolest 64° in 2015 warmest 100° in 2014
20-year record high temperature 100° in 2014
The total is in the thousands if not a million.
Flood insurance is Special and Not CHeap, I understand. Can beachfront owners even get FLood or Hurricane insurance./???
the bank would require flood insurance
"We back you and will fund your support as long as it take" Oh i wasn't talking to American citizens
😂
Huh?
Why we fund anyone who isn’t ??😂
I really wouldn't call this a normal flood as this is more or less a flash movement of water or whitewater rapids.
< Americans discovering that they must pull themselves up by their bootstraps >
Good luck, as the Republicans would say, thoughts and prayers.
If you don't know what insurance is what flood insurance is and whether you need it or not you should not be allowed to own a home.
Facts
peace be upon you from me
Why are people being arrested for trying to get things from their homes? Volunteers are not being allowed to help either. Why?
According to WHO and WEF humans are overpopulated. This is their "solution". We are the carbon they want to reduce.
How could people take out a mortgage if there not properly insured. If i lived there and i jad a mortgage i would walk away from my home giving it to the bank and start over in a different place
Insurance is a damn scam
bruh i don't care, they should NOT get special treatment... wtf! they will get the same help everyone else gets..
Where have home owners been for 50 years? No home owners does not cover floods dah that why we have FEMA guess who you buy flood insurance from FEMA .. insurance companies only manage your flood insurance FEMA is your insurer.. I've been flooded many time I filed a claim with FEMA in 2016 for HVAC repairs. Yes I had flood insurance... Many of my neighbors didn't.. I helped them to manage their claims... You can file a flood claim with FEMA even if you do not have flood insurance ss a home owner ... a renter can too but only for losses clothes hotel some financial help and sometimes for loss of a car... FEMA pays about 32k to 36k averages to the uninsured home owners and about 3k to the uninsured renters and the added Biden Harris 750 quick cash help now in affect..
If you dont have flood insurance then you need to
"Wind damage" your house (tear it apart yourself ) BEFORE you file a claim of course
Dont tell anyone i told you this little trick, you heard it here first.
Most policies don't cover windstorm damage either.
😂
Insurance fraud is a felony that appears on your credit report as well as your prison record.
Oops, wonder why guys?
Not very informative
What aren’t you talking about the government giving so much to everyone but the American Citizens???????!??!
Who and what are they giving exactly? Are you talking about sanctuary cities? I can assure you there are none in the path of the Hurricane so throw whatever thoughts you had about that money going to you as it would have never done so in the first place.
You people voted for it to be like this, stop acting like you're surprised that capitalism runs exactly as designed.
@@Crismodin just recently approved by Kamala
8.7 Billion to Israel
8 Billion more to Ukraine
567 Million to Taiwan
This does not include the Billions for illegal aliens and I believe the us supports about few other countries as well
And they approved a one time $750 dollars for the victims of this disaster.
Make that make sense!!!!
Why don’t you ask the American citizen who doesn’t want the government handing out money every time there’s a disaster because they’re concerned about their taxes and the deficit. Or so they say
@@neilkurzman4907 they immediately change stance when it impacts them, I guarantee it.
Common knowledge is that if you don’t live in a flood zone, you don’t need flood insurance. It’s usually recommended by the insurance company. People are not stupid!!!!!
This area that got flooded was not considered a flood zone. They might consider going after the government for manipulating the weather!!!!!!!!!!!!!!!!!!!!
Yes, I think I saw that in James Bond
You don’t own anything. Your body is on lease.
Do you know what you don’t know? The ability to control the weather.
@@neilkurzman4907 I’m a decent sailor. Not the worst person to have on your side
@@neilkurzman4907 does this do video because the Mekong Delta is flooding outside my front door. And I’m going swimming for death and truth. 1st hand information