EDITORIAL: Too many of us are flirting with disaster
A recent extension makes the insurance program -- a requirement of many loans -- viable through the end of the year while members of
Unfortunately, even as this debate unfolds, troubling word has hit.
Recent numbers show that participation in the NFIP has actually decreased in our local area.
In
Following last year's devastating floods and this year's costly hurricanes, we might expect to see more people seeking flood insurance to protect their largest investments.
"If you live in south
Unfortunately, the opposite is true.
Perhaps, with hurricanes Harvey and Irma making such terrifying hits in the
Buying flood insurance is easy and, thanks to the heavy federal subsidies, it is extremely affordable.
As
Because so few people take advantage of the program, it has far less revenue pouring into it than it should. Under any long-term fix of the program, there should be a way to get more people and businesses signed up for it to help increase that revenue.
But the recent drop in the local numbers -- a trend that stretched across 43 of the nation's 50 states -- suggests that more must be done to educate people about the advantages of participating and the low cost of doing so.
As far too many people learn every time a storm hits, flood insurance can be the difference between financial ruin and being able to rebuild.
That is a message that more of our friends and neighbors need to hear.
Editorials represent the opinion of the newspaper, not of any individual.
___
(c)2017 The Houma Courier, La.
Visit The Houma Courier, La. at www.houmatoday.com
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Based on preliminary rates, federal approval of Minnesota’s reinsurance program would help bring down premiums for several individual market health insurance plans in the state. Without federal approval, rates for many individual market plans could increase substantially.
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