Katrina slab case.. Big News!

[Lindaloo]

100 miles of the coast? What about all the folks in tornado alley?

[stormcrow]

NFIP brings in aout 1.5 billion in premiums, they have paid out in Katrina over 10 Billion, someone has to make that up.

[Lindaloo]

NFIP brings in aout 1.5 billion in premiums, they have paid out in Katrina over 10 Billion, someone has to make that up.

Well, let's not make some of us pay. I do not live in a mansion and I have lived here all my life.

HEy, at least the NFIP paid their premiums. The insurance industries greedy, deceptive practices are going down stormcrow. Can you say
REGULATED?"

[Derek Ortt]

100 miles of the coast? What about all the folks in tornado alley?

The chances are significantly lower of a tornado causing significant damage than a hurricane.

Even the largest tornado only covers a little over a mile. The chances are small that you are within that swath. That might be why insurance companies are willing to provide coverage there.

In contrast, the chances of a hurricane are much higher as is the return rate. This is because a cane is so much larger in size

The only other area that may need a federal program would be the WC. However, the destructive earthwuake rate there is also significantly less than a major hurricane as demonstrated by the differences in return rate

[Lindaloo]

Regardless, the high risk is there all the time for tornadoes.

[Dionne]

We have three properties that were damaged by Katrina. All three were damaged by wind and tree fall.

The most serious was our Hattiesburg home. This home is insured by Shelter Insurance. They are a small insurance company. It took them more than a month to get an adjuster to the property. By the time the adjuster arrived we had done most of the necessary work out of pocket. The adjuster cut us a check for the full amount right on the spot.

Our home and business property in Crystal Springs both sustained light to moderate damage. We did the repairs and never filed a claim. These properties were insured at the time by Mississippi Farm Bureau. When renewal time came around they cancelled us. We were offered policies by an outfit named Mississippi Casualty. Our premiums came close to doubling.

My biggest concern is that there doesn't seem to be any continuity when insuring property inside the Katrina disaster zone.

A short note....our daughter that was trapped inside our Hattiesburg home has graduated from USM. She moved inland. She now lives in Memphis. We have allowed a realtor to handle the Hattiesburg home. Remax. They rented the home for a ridiculous amount of money.

[MSRobi911]

I know Dionne, none of what the insurance companies in general are doing makes a whole lot of sense. My daughter was at Ole MS at the time and worried to death about us here in Pascagoula. Fortunately Cellular South cell phone company was the only one working in our area and I could call her, nobody else, but I could call her. I talked to her just about through the entire storm. Her roommate and her boyfriend and several other kids from the coast where at her house and they were only getting any word from me. The boyfriends parents had got through to him one time and told him they were moving to the second floor because their house had about four feet of water inside and they are about 3 miles inland. He was scared to death for his parents and little sister. My daughter would take down phone numbers I had and call the people I wanted her to in the other areas of the state or US and let them know that we were OK. She was our only link to the outside world. They even lost power up there for 3 days. One of her roommates parents had gone up there to evacuate and couldn't get home for a week because of the gas situation. She said there were trees down all over Oxford and the surrounding areas and they canceled classes because of no power. She wanted to come home so bad, but we told her not to because she might not get gas to make it back up to school. It was hard for her when we told her that there was only a slab left of our home and that all of her "stuff" along with ours was gone. She wanted to see for herself and had to wait for a month and a half before she could come home. We had no place for her to stay as we were living with my mother and brother and there were 3 of us, my son was going to Perk at the time and they sent everyone home so he was with us. Plus we had some other people staying at the house so every available bed and couch and floor space with blow up mattresses was taken up.

I thank the Good Lord Above for all the supplies that people sent from around the US to us. I don't know what we would have done without the food, clothing and blankets and everything else. We were so blessed!

Mary