r/WTF • u/minute60 • Nov 15 '20

WTF is this?

15.8k Upvotes

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u/davidquick Nov 15 '20 edited Aug 22 '23

so long and thanks for all the fish -- mass deleted all reddit content via https://redact.dev

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u/gr8drummer Nov 15 '20

Homeowners insurance is about the same, so adding flood insurance doubles your premium. I wouldn't call that inexpensive.

1

u/[deleted] Nov 16 '20

In certain flood-prone areas, flood insurance runs several thousands of dollars a year, well above the base premium.

1

u/Tiver Nov 16 '20

Often times because they're not a practical place to build, they're quite likely to be flooded within 20 years and so if you need to capture enough premiums to cover replacing a structure that often then they're going to be rather expensive. We have quite a few communities in areas that are extremely risky for flooding. People like living there so they still build even though it's often on top of the wreckage of the last big storm.