Recently I tried to scan our neighborhood for comments about the need for flood insurance.
This question fell flat and probably due the fact this insurance is mandated if the home has a mortgage.
For those who are interested, rather than cancelling my flood insurance, I will reduce the building coverage
from $200,000 down to $20,000 next year with premium reduction from $1500 down to $400!
My information source revealed that the average claims for flood from our general area rest
about $15,000 and mostly for property clean up.
I will probably keep contents coverage as is since reducing this coverage gives very little premium reduction.
I doubt that our structures will suffer much damage should a hurricane caused high tide flood our homes.
Beyond that I suspect our local Emergency Management philosophy over rates our flood potential.
We might see a slowly rising tide, wind driven, but not a smashing wall of water.
John P Derr
148 Cousley Dr
625-8459
jonderr@yahoo.com
April 29, 2013
Do residents of Charlotte County need flood insurance for both building and contents?
Are unnecessary evacuations in the offing?
Are we in effect subsidizing those folks along our nation's rivers who experience annual
flooding while we have had none?
If annual premiums are anticipated to double in the future, can we or should we afford
this insurance except for ones with property mortgage who have no choice?
Sometime back in the last century, I was the local Emergency Management Director 1977-1987
and used the SLOSH Model (Sea Lake on Shore Flooding from Hurricanes) data for assessing the
flood threat. Land heights above mean sea level were posted on street signs throughout the
county for use in evacuation studies. Today we see colored tags for that same use.
Is the flood threat for us a serious threat?
There are three hurricane tracks to threaten and only one serious, from a storm paralleling
our West Coast and turning for landfall above Boca Grande Pass.
The other tracks are crossing Florida from Miami when the storm fades over land, and a track
paralleling the coast headed for Pensacola area and we wave adieus to it.
If the flood threat is overrated, we pay too high premiums and local authorities will order
evacuations beyond the need and that with inadequate shelters for the public, a public safety issue.
Insurance Agents are a prime source for analysis on this potential annual threat and I
encourage a public dialogue here in the OPED Page.
John P Derr
148 Cousley Dr
625-8459
jonderr@yahoo.com
April 29, 2013
This is interesting stuff.
One has to respect the input Mr. Derr offers here based on his experience and credentials.
I have only the highest respect and appreciation for his opinion and service to our country.
My biggest Concern is that our planet has been experiencing 40, 50 and 100 year cycles of
severe weather events and as lucky as we have been in our area since Charley and the fact
that Charley was primarily a wind event.. I'm not sure cutting off the flood insurance would
be a good move at this time.
On a personal note .. My first reaction is to continue our coverage. Call it peace of mind..
But I do know that in the real scheme of things.
Only the end result.. After the fact of a claim.. will you know for sure if you made the right choice.
In any event.. Thank you Mr. Derr .. For your input.
Ed Barry
Century 21 Aztec
941-979-7838 www.edbarrytherealtor.com
