Misunderstanding Flood Insurance

The title of a piece from KELO caught my eye: “Act Now If You Want Flood Insurance” I acted immediately to read the article, which says in part that we need to get flood insurance at least 30 days before we need it–otherwise the policy is not in force.

Here we sit on the high plains (or at least the medium plains) with substantial drifts everywhere and enough snow moved off the roads and heaped up on the shoulders of the same that we cannot see when entering intersections–and someone is willing to offer flood insurance? By rough calculation, 8 inches of snow is 1 inch of liquid water. That means that across this state of ours we have anywhere from 1 to 6, 8 even 10 inches of water which is currently held in suspended animation above the frozen ground, just waiting to visit many different someones–with and without flood insurance.

Insurance is about sharing the risk. I get that. But if a sword is suspended by a thread–that’s not so much risk as it is a promise. Of course, if the insurance we are talking about in the linked article is part of the NFIP (National Flood Insurance Program) then everything becomes clear. You see, all of the insurance sold as part of that program is backed by the federal government you and me.

Now, how excited are you about those policies?

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