Wind vs Water again

The debate when there is flooding and water damage is which came first. If wind causes the damage then standard insurance covers the claim. If flooding causes the damage then the NFIP covers the claim. When both happen at the same time that is when the problems occur. First the standard insurance companies will say it was water that did the damage and the Feds will say it was wind that did the damage. This was very evident after hurricane Katrina. This week in congress a new act was introduced in an attempt to mitigate this problem. The Coastal Act has a formula to determine which caused what when there is nothing left of the structure. This will be a an interesting development if it is passed. Maybe it is the answer to finally settle the wind vs water issue. Only time will tell. Until next time be careful out there and know your risks. K

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