Share “Bailing out flooded homes near beach”

Bailing out flooded homes near beach

Published: January 13, 2013
Advertisement

“Congress approves $9.7B in flood aid for superstorm” (News, Jan. 5) says (regarding the FEMA flood insurance program), “Congress created the FEMA-run program in 1968 because few private insurers cover flood damage.” Well, any private insurance company would provide flood coverage — just like any business — for a price. It's just that the price might be more than the homeowner would want to pay because of the high flood risk of these homes built near the ocean and the knowledge that the homeowner would probably be bailed out by the federal government anyway.

Perhaps the National Flood Insurance Program needs to raise rates to cover its losses, like most smartly run businesses would, instead of borrowing or charging the taxpayer. The NFIP is coverage for those homeowners on the beach front who are unwilling, or unable, to pay the true cost of living on the beach front. They expect taxpayers to bail them out. This isn't an appropriate function of government. And I don't think most Americans like the idea of supporting this stuff.

Greg Clift, Anadarko


AROUND THE WEB

  1. 1
    Gay Tribal Members Not Guaranteed Their Own 'Big Fat Creek Wedding'
  2. 2
    4 arrested in Edmond after deputies find 120 grams of meth during traffic stop
  3. 3
    Report: Semaj Christon signs with Italy's Victoria Libertas Pesaro
  4. 4
    Olivia Munn is psyched to show off her killer 'X-Men' moves
  5. 5
    Report cites 'Latinization of U.S.,' warns of 'backlash' against whites
+ show more

FEATURED JOBS



× Trending opinion Article