FEMA Strikes Again

Now that I'm back in the flood plain I get to enjoy the pleasure of dealing with FEMA again. Specifically, flood insurance. When we moved in it wasn't too bad, but now that the government thought over how much it spent on floods & Hurricane Sandy relief they decided to raise everybody's insurance premiums. So my coverage, which used to cost about $60 a month, went up to almost $350 a month.

On the bright side, we really had more coverage than we needed. See, we learned our lesson in the 93 flood. Sure, we had flood insurance. Just enough to pay off the mortgage. The bank took the money & said 'Don't call us, we'll call you.' This time we took out enough insurance coverage to rebuild our house if a flood completely destroyed it, which is extremely unlikely. It's more likely that the water would come up, get everything all wet & funky then go back down. We'd have to replace a lot of stuff, like carpets & drywall, but wouldn't have to rebuild the house from scratch.

But now we can't afford the premium coverage, so we're going to have to drop it down to cover the mortgage plus about $15,000 to rehab it. Maybe not Better Homes & Gardens material, but liveable. We'd have enough money left over to fix it back up & won't go broke in the meantime. So now we won't get rich if it floods but we won't get bent over either.