I have a response to your flood insurance query.
The answer is yes; people will build in floodprone areas even if flood insurance isn't available.
The National Flood Insurance Program (NFIP)was created by an act of Congress in 1968. Prior to that legislation, people and businesses built in the floodplain even though insurance for flood damage was not available or difficult to obtain to pay for the damage.
People are attracted to water and want to live near it. The fact that insurance is now available hasn't changed that viewpoint. In fact, it may have encouraged more people to risk the threat of flooding by building in the floodplain.
Just Asking...
We realize that on any given day you turn to us for answers to important questions affecting your pocketbooks and wallets.
But, on any given day, we are struck by perplexing questions/issues in our own minds for which we have no answers.
So...today we're turning to you to see if you can provide us some help/perspective with issues that we, for the life of us, don't understand and can't solve on our own.
So...WE'RE JUST ASKING…
* Health care costs for a family of 4 are up over 7% since last year. Where are the new health care savings we were promised?
* Where are all of our "allies" whom we often help during their national disasters with money and personnel, offering U.S. aid for the tornado-stricken and flood-ravaged South?
* Why did we give the International Monetary Fund $100 billion last year if they're using it to bail out Greece, Ireland and Portugal and not us?
* If Congress thinks that Obamacare is SO great, why don't they have to use it too...rather than the special healthcare program(s) that they enjoy?
* Will another $3 billion in aid to Pakistan help them find the next Al Qaeda terrorist for whom we are looking--since they couldn’t find Osama right under their noses with the first $20 billion that we sent them over the past few years?
* Has the almost $1.2 trillion that we've spent on wars since 2001 been worth the results?
* If 47% of Americans pay absolutely no federal income tax ...will they EVER vote for smaller government?
* Since the Senate hasn't passed a budget in two years, why are we still paying them six-figure salaries?
* If the government didn't underwrite (with taxpayer money) flood insurance policies that private sector companies won't touch with a ten-foot pole, would people still build in flood-prone areas of the country?
These are just a few of the questions perplexing us.
Maybe you have some of your own.
So...whether you want to share your questions with us or answer some of our questions, we invite you to share your responses with us and the Dolans.com family.
YOUR help appreciated.
Ken and Daria Dolan have hosted their own national radio program for 22 years, anchored their own television shows on CNN, authored six books on money matters, served as money contributors on CBS This Morning and have now launched a comprehensive web site and free e-letter at Dolans.com.
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View unverified member's comment - posted by Steve Daroff