If you gotten any mail from your homeowners or business insurance pull it out now.  Go to usually the third from the last page and look for flood damage.  Often like bills flowing through the House or Senate, these policies simply tell you to  “delete these words” and “substitute these words’.  Unless you have an old policy to cross reference, you probably do not know  where you stand. Your friendly Democratic reminder.  These were put in place by Republicansand were buttressed against the Democratic assault to change them, by the Tea Party…   Their motto:  Private companies Know Best, won the day. Here is what to look for.

  • Homeowners’ insurance typically doesn’t cover floods; do you have a flood insurance rider?
  • Check the definition of “flood”.  Does it cover  storm surge, burst pipes, water seepage, and basements filling up with water?
  • Look for “anti-concurrent causation“;  does your insurance policy cover simultaneous events? From both wind AND water?
  • How much will your insurance pay?  Renew like new? To make it livable? Or to offer “some” financial assistance.
  • How high is your deductible.  When you bought, it was 50 dollars.  Today claimants are discovering it is $10,000…..
  • Does your coverage only cover hurricanes?  Sandy was only classified as  a depression when over Delaware.

That is what those who have private insurance through Bain Capital invested companies are discovering today….  Those fortunate to be in a Federal Disaster Area, have access to complete coverage through interestingly FEMA (the Federal Emergency Management Agency) which does provide insurance through NFIP (the National Flood Insurance Program). Romney said get rid of FEMA and give it to the states, or even better to private insurance companies…. which he owns, of course…. Bottom line, check your policies and if you see any Republican in your daily travels,   tell them STFU….