Have to pay flood insurance, had to file a claim and now the insurance costs have gone up?

Question

is this some kind of joke? would the cost have remained the same if i hadn't filed?

Answer 1

Contrary to the above posts, flood insurance rates are set by the federal government - it makes no difference what company you buy it through.

Answer 2

The joke is that we have a federally funded flood insurance program for certain people (because the private insurance companies are smart enough not to offer them in certain places), so that people can continue to live in flood zones and file claims over and over again.

Answer 3

Back in the old days we would have all gotten together on one certain night, marched down as a group to that old codgers place, carrying sticks & torches & pitchforks or whatever's handy, and taken care of business.

The joke is how Insurance companies have come to the point in time that they have us all convinced that we need insurance in the first place, and then steal away with all that loot.

Think about it!

And I feel your pain, right there in the backside.

I better go file a claim!

Answer 4

I really don't want to get started on insurance companies. It's a legal scam and they continue because the industry has strong lobbyists in Washington. The sad truth is: Isurance companies are in the business of selling policies, not paying claims. However, if you do submit a claim, you're punished financially for it. So don't ever do it again. They're going to make an example out of you.

Answer 5

If you hadn't filed a claim, then they would not have known about the damage.  However, could you have flipped the bill and paid for the damage yourself?

Answer 6

Your rate would have gone up whether you filed or not.  The rates are set by the federal government based on your flood zone, your elevation, your dwelling limit, contents limit if any & deductibles.  If you were not in the 100 yr flood zone & your area remapped & you are now in one, that is a reason why it may have gone up.  If you increased your coverage it would have gone up.

When quoting a flood policy the only time I am asked about claims is if quoting in Preferred Risk & they ask for 2 or more claims, not one.  That is the only time the rate would be more for claims (not in a designated special flood hazard zone with 2 or more claims).

Answer 7

Oh man don't get me going on this one! What a s******g these insurance companies give us! Bend over :)