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Reply #1: Not sure what you mean [View All]

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Home » Discuss » Archives » General Discussion (Through 2005)

Sgent

(1000+ posts) Send PM | Profile | Ignore

Thu Sep-22-05 03:18 AM
Response to Original message

1. Not sure what you mean

The maximum payment for NFIP flood insurance is 250,000 -- not exactly a mansion.

In addition, the rates are set on value -- someone with a 100k policy pays approximately half of someone with a 200k policy.

3rd, although there is an implicit gaurentee by the feds. The NFIP has collected 186% more premium than paid in claims since its founding. Most insurance companies shoot for 100% and try to make the profit on the portfolio returns.

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