foxtrapper wrote: Lloyds is a rather famous one. For a price, they will insure virtually anything against anything, as long as they can make money at it.
begins brainstorming how to exploit this
foxtrapper wrote: Lloyds is a rather famous one. For a price, they will insure virtually anything against anything, as long as they can make money at it.
begins brainstorming how to exploit this
Lloyds of London is a gambling society. Seriously. It consists of high rollers who gamble that so and so won't happen, they split the pot (the insurance premium) if it doesn't. If it does, they come out of pocket to cover the costs.
It is not even a remote possibilty that my house could flood. I do not appreciate being told I have to buy insurance I do not need or want. I want a scalp.
TRoglodyte wrote: It is not even a remote possibilty that my house could flood. I do not appreciate being told I have to buy insurance I do not need or want. I want a scalp.
you could just pay off your loan and then nobody can tell you what coverage you have to carry. Until then, it's not really your house to decide whether or not you need the flood ins.
FEMA has never made a payment on it. I have never missed one.
why should FEMA make a payment on your house? flood insurance is for something that could happen tomorrow not what happened yesterday.
if you don't like the terms of your loan, you can pay it off, then they can't tell you that you have to have flood insurance. any other loan is going to carry the same stipulations if you live inside the 100 year floodplain.
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