it pours, or as may be the case come this fall, it "poors". I've heard the flooding in Iowa described as a "once in five hundred years" event, surpassing the '93 floods in water levels and crop destruction, not to mention the billions in property damage. In many cases you'll find property owners that have no flood insurance because they never expected to need it.
Flood losses are not covered by the standard homeowners insurance policy. There are some perils, such as flood, where you just can't accurately predict losses. In the case of Florida and other states that border an ocean, many insurance companies are refusing to write business in hurricane prone areas because the possible maximum loss far exceeds any insurers ability to cover the losses.
That's where the federal government steps in. Flood Insurance is underwritten by the feds, even though the policy comes through on the "paper" of an insurance company. You can check with any insurance agent and they'll be able to provide you with a policy. It's something that most of us who don't live immediately on the water seldom think about, but the price of the insurance is usually worth at least the peace of mind it gives you.
The really scary part is that this is just the beginning. All that water has to go somewhere, and it will infuse the Mississippi to the point that we'll be seeing these floods for weeks to come.
Corn futures were climbing even prior to the flooding due to the increased use of corn in the making of ethanol. Expect to see very active trading Monday morning; who knows where the price will end the day.
It would appear that FEMA, the Red Cross, and many others are responding as quickly as possible to help the folks in Iowa, so apparently some lessons were learned from Katrina.
I always try to view the glass half full, but the confluence of events are starting to make me concerned. Rising gas prices, no indication as to what ungodly amount it will cost to heat homes in the Northeast this coming winter, wheat and corn crops damaged or destroyed - it doesn't signal the end of the world, but you may want to put another notch in your belt.
The point of the preamble is this: When a disaster assumes the proportions of the current flooding situation, this is when we need the Federal Government to be involved on many levels. As opposed to trying to manage our lives through progressive legislation, this is where government, local, state and national needs to shine. Even with everything the various levels of government can provide, the American people never fail to support their countrymen who are in need.
Blood supplies are always low, so if you have the opportunity to donate a pint or two, why not help out the Red Cross. Money, food, clothing - it's not hard to find relief organizations. If you know someone who needs help, here's FEMA's website for Iowa disaster relief:
http://www.hud.gov/local/ia/library/disasterrelief.cfm
When I googled "Red Cross Iowa Relief" I found a New York Times article and a similar article on the "Philanthropy News Digest" regarding the monetary collections made by the Red Cross after the tornadoes hit in Iowa recently. At this point, I think I'll stick to giving them blood and make a donation elsewhere.
On this Flag Day, let's show the folks in Iowa their countrymen care.
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2 comments:
We moved to Florida just in time for Jeanne, Francis and Charley. We live 50 miles north of Sewell's Point where Jeanne and Francis made landfall as cat 5 storms. The devastation in Indian River County were we live was mind boggling. Several other things were mind boggling as well. First, the cooperative effort; people helping people. Second, local government did a great job in the short run and got greedy and stupid in the long run. Third, FEMA did a great job. Within a few days they had crews putting blue tarps on damaged homes. They has water and emergency supplies available. They had a generator reimbursement program. They supplied trailers. They were easy to contact given the magnitude of the problem. This was the year before Katrina and FEMA was magnificent. Forth, the arrival of the opportunistic vultures; pretty much anyone with a pick-up truck became a contractor. The fraud and out and out larceny by mostly out of state thieves was stunning. Fifth, the insurance companies for the most part stepped up to the plate. They had adjustors from all over the country handling claims. My experience was that they overpaid more often than they underpaid. Nothing like the Gulf Coast after Katrina.
Then the bill arrived. Homeowners rates soared to pay for the losses. The State of Florida went nuts and have tried to legislate lower rates. Standard insurers have stopped writing homeowners. The largest writer of Homeowners insurance in Florida today is the State owned and operated insurer, Citizens Insurance Co. It has the lowest rates and no reinsurance. If we have another year like '04, the State of Florida will literally be bankrupt.
The bottom line is that disasters like Florida's hurricanes and the tornadoes and flooding in the mid west bring out the very best and the very worst in people. There are always people willing to give their last buck and people only looking to make a buck.
Sir,
A lot of people claim to be "glass-half-full" kinda guys, but I think you actually ARE.
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