No. of Recommendations: 1
Flood insurance was available to New Orleans.

The important issues about the Suze Orman show was that it pointed out flood insurance doesn't always properly insure you. Sometimes you're not insured at full-replacement value, but instead of X% over what you paid. Some banks don't even require insurance for 100% of your mortgage. And flood insurance covers the dwelling, not your possessions. For those in MS where their whole house literally blew away, those with Hurricane insurance most likely have a hurricane deductible, which could mean they have to pay $10K's first. And there's also the issue of lost equity. It just made me realize that in this instance, renters probably faired off better, especially those with renters insurance.
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement