Is this going to be a stressful time for insurance companies in the Houston area?

  • by Dogstar Ascendant
  • Aug 29,2017
  • 6 answers

Is this going to be a stressful time for insurance companies in the Houston area?


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Insurance Answers (6)

Insurance Pickle.com 6 months ago

Flood insurance is run by the gov't. If you're going to troll, be accurate at least.

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StephenWeinstein 6 months ago

No. They only have to think of one reason: which is that nobody has flood insurance from them. Insurance companies in the U.S. don't pay out on any flood insurance, because the only flood insurance available for homes in the U.S. is from the National Flood Insurance Program of the federal government.

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Jo5 6 months ago

people should read their policies. there are tons of ways built in for ins. cos. to weasel out

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Hondo98 6 months ago

Just wait. They gave a TON of bribes we inaccurately call 'campaign contributions' to the Texas legislature to change the laws to make it difficult to sue an insurance company that refuses to pay. Anyone filing before 9/1 is not affected. Just wait until you see the results of typical GOP corruption.

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Zarnev 6 months ago

All flood insurance is Federal and goes through the FEMA. FEMA pays the insured through the insurance company so there is no expense to the insurance company.
One problem is a regular home owner's policy does not include flood damage. Another problem is you can only get flood insurance if you're in an established flood plain. For those you are only required to buy flood insurance if you have a mortgage. A great many that don't have mortgages won't buy flood insurance because "there hasn't been a flood in my neighborhood in 150 years". This flood is historic, though, and is flooding homes not in the flood plain. Those homes are not covered and will have to be helped out by FEMA, not the insurance companies.
Auto insurance will cover your car if flooded. If people will take a picture of their car in water and turn that into the insurance company no questions will be asked.

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Beverly S 6 months ago

Most people don't have flood insurance. Homeowners insurance does not cover floods, you have to buy flood insurance seperately & it's not required unless you live in the 100 year flood areas. Most of Houston doesn't.

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