Year After Hurricane Sandy | Flood Insurance Will Not Go Away
The havoc and devastation that Hurricane Sandy wreaked on all of us in Rhode Island is still remembered well. I had a home closing for a house in a flood zone that day in October 2012 (the home
survived the storm well thank goodness), made sure all my cared for properties had been battened down and headed home to make sure my house was as well.
Now on this one year anniversary of that hurricane, coastal shores everywhere are facing flood insurance premium changes (although at this point the flood insurance increases have been put on hold for now 10/29/2013).
It is the tsunami of federal flood insurance subsidy losses that do not lessen. It is man’s right to own property, it is not a right to be able to obtain insurance for it. So the question will be in the next year how we deal with flood insurance and make it bearable to the homeowner and the U.S. government that has been bleeding its coffers to cover the losses.