[StBernard] HR3922 - Flood Insurance Buy In Plan

[Westley Annis]

Westley,
 
 
    As to the house bill, I would also like to see it expanded even further
than just the elderly, and I'll explain to what point. You see I had flood
insurance. On the advise of my agent, I would only need $100,000 to "redo"
my home if we ever flooded. While everyone of us knew at some point and some
time we would have to deal with this situation, I don't think any of us
could have predicted this extreme distruction. Any who, I owe $108,000 on my
mortgage, meaning I am underinsured by $8,000. While I can take this out of
my "content" money, it takes away from my ability to recover. And from what
I have been hearing, there are several "new" home buyers that might be in
the same predicament. We always knew we would have to rebuild, just never
expected a total loss. I believe the bill needs to be modified in that it
would allow homeowners to expand their policies to cover the balance of
their loans as well which would also increase their content just slightly.
 
 
Wendy Hall