Why require Flood Insurance ?

If you live in a flood zone or near a flood zone you are required to get flood insurance by most financial institutions. Unfortunately many business owners elect to get the coverage because they do not want to pay the premiums or they think flooding is remote. Well, just look at Nasville a year or so ago when the whole town was flooded. Many of the business owner did not have flood insurance, neither did many homeowners. Now the Federal Government is bailing out the uncovered by buying up homes and business properties that were flooded. So if the government is going to buy up flooded properties then why even require flood insurance at all. It seems to me that the Feds might as well just wipe away the need for policies and premiums and just buy out areas that were flooded. I know this sounds a little ridiculous, but it seems to hold true in all areas where unexpected flooding occurs. Just a thought. Until next time be careful out there and know your risks. K

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