A Nurse with a Gun

Sunday, November 13, 2005

You know you're from New Orleans when:

From the Times Picayune:
Some friends of mine were clearing out their belongings from their home in the Fontainebleau area and were going through the muddle of despair that attends the realization that you were insured out the wazoo for a hurricane but all you got was flood damage and now you're going to get a check for $250,000 to rebuild your $500,000 house. [flood insurance caps out at $250,000]
As they pondered this dismal circumstance in the street, their roof collapsed. Just like that. It must have suffered some sort of structural or rain-related stress from the storm and now, two weeks later, it manifested itself in total collapse.

Now I ask you: What would you do if you watched your home crumble to pieces before your eyes?

What they did was, realizing their home now qualified for a homeowner's claim, they jumped up and down and high-fived each other and yelled: "The roof collapsed! The roof collapsed!"

Our home is destroyed. Oh, happy day. I submit there's something not right there.



Blogger PilotBill said...

Real life at work, Thanks for sharing. I think few people know the nances of insurance better than the people of New Orleans

10:10 AM  
Anonymous Anonymous said...

When you have paid for insurance out the "you know what" for twenty or thirty years, and you lose everything you own, including your dignity, within a matter of hours, then you learn you will only receive about a third of what your home is worth, trust me when I tell you, you would be thrilled at having additional damage in order to be able to pay for whatever it is you are going to live in. The Homeowner/Flood/Content Issue desparately needs investigating by Congress.

7:20 PM  
Blogger Mike said...

I wonder if they will be able to purchase flood insurance on the same property.

8:01 AM  
Anonymous Anonymous said...

Please keep in mind that flood insurance is a federal government program and is administered by a federal bureaucracy. There is no profit motive on the part of the flood insurance administrators.

The insurance is purchased through normal insurance agents that make a small profit on the transaction though.

In addition, though the 250,000 of coverage is normally considered to be the max. available more can be applied for and purchased by a homeowner. (As as side note, 250,000 of structure coverage and 100,000 of contents coverage costs less than $400.00 a year - this is not even close to the true cost of this coverage, which is one reason among many why private insurers do not offer flood coverage).


2:14 PM  

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