[Winona] Insurance/flood insurance

[Joliene Olson]

I agree with Linda Fort and her posting about insurance in general.  Home
owners insurance should be written to protect our homes. period.  One policy
should do the trick.

 

Traditionally, however, if we wanted protection from floods we need a
separate policy called 'flood insurance'.  Or, as the family in Brownsville,
have a rider on their homeowners for earthquake etc. Some are required to
carry 'flood insurance' if they have a mortgage and live in a flood plain.
Here in Winona (City) we had to carry flood insurance on our house until the
dike system was fully installed or until the mortgage was paid in full.
Then we could stop paying.

 

I would like to know if anyone knows the real information on Flood
insurance.  I have heard (but haven't verified) that there are people right
now who do have flood insurance but won't get a dime for some/various
reasons.  WHY NOT!  If a person has flood insurance and their house is in a
flood why don't they get protection?????  Again, I have heard that it
depends on how the policy is written.  But why!  A flood is a flood.

 

Are there any of you who are reading and participating in Online Democracy
who have any more information than I do?  Does flood insurance pay off for
those who have it??

 

Thanks

Joliene Olson

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