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Problem is she is just misinformed. Insurance companies DO NOT sell flood insurance. FEMA through NFIP does and they use brokers. If you go on FEMA/NFIP site you can actually pull up the insurance adjusters handbook where it tells you exactly what you can be paid for. For instance, no furniture in basement, Carpeting gets depreciated, but furnance does not. Also goes on to what types of personal property is covered. One has to just print out handbook and follow along.

Oddly, her house looks good to me, roof is on, windows and siding undamaged. She got four feet of water, I got 5.5 feet of water in my house. Unlike rich folk like her I did not have flood insurance. Uncle Sam was nice enough to pay me 31.9k.

I put in a new den, new bathroom, new laundry room, new boiler, new hotwater heater, new oil tank, new sheetrock, new insulation, new ceiling, new electric panel, new furniture, mold abatement, three new doors, etc etc. all for around 55k. Total.

Guess what I took a month off work, I worked 12 hours a day 7 days a week and wife and kids helped. I fronted the money for repairs. I hired folks to assist me and I self contracted. No charities or anything. I took FEMA handbook out and for that much damage I estimated I would have got paid 70K.

My neighbors all want Servepro, dumpster service, maids to clean, top notch contractors, licensed top of line electricians, new furniture, new paint, whole new kitchens etc. Basically an extreme home makeovers. Many are fighting with insurance companies. They are viewing this as a cash out.

I would love to see a stat showing on a block where all houses got the same amount of water the total cost of repair for folks without flood insurance vs folks with flood insurance the cost to repair homes.

My buddy bought an estate sale in Long Beach Bungalow a few years ago, too a few weeks off work, gutted whole thing and with help of a few handyman folks, he redid whole thing for 20K. Those places are small. Home Depot/Lowes quality stuff, Self Contract, hire some folks even out of HD parking lot to help you with hanging kitchen cabinets, sheetrock on ceiling is all he needed.

250K is crazy. Look at my nassauproperty and you will see many bungalows assessed at 350k where land is valued at 275K and house only 75K. They are little bungalows without a basement.

Also she has advantage of free rent in apt above bar by claiming that, folks like me had to get back into house quick.

We might be better off completely killing flood insurance.

From: Cut the red tape!

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