This year, the Federal Emergency Management Agency has changed Florida’s flood maps. Starting in August, the number of homes in flood zones has increased and a lot more inland houses require flood insurance.
Flood insurance costs an average of $781 per year, according to MarketWatch. For my home, it would cost $2,800 a year, and many homeowners, including my own parents, don’t want to buy it. Why should we need to? In the 11 years we’ve owned this house, we’ve been through more hurricanes than I can think of and it’s never even come close to flooding.
Flooding is a big problem in certain areas of Florida, but not all of them. And housing prices down here are already terrible. Why add to them by making us buy insurance that we just don’t need? The insurance for being in an area that’s considered “high-risk” is also much more expensive than in an area that’s lower-risk, and with a sudden change like this, it could change people’s financial situations. Many just don’t have the money to spend on a large unexpected expense like that.
Even in the scenario that these flood zones need to be increased, is the best option really to pass on the insurance costs to the consumer?
You can’t fix the root of the flooding problem without environmental regulation.
If there’s nothing we can do about the risks of rising sea levels, then our tax dollars should be going to better infrastructure rather than forcing us to give money to private companies if we want to live in our homes.
Overall, it’s simply greedy of these private companies. We’re forced to buy their insurance, and they jack up their prices because they know we have no other choice.
One is left to wonder: Is this really about safety and protecting your investments in case of a flood, or just an attempt to funnel money from regular people into private companies knowing full-well that some people just don’t want or need flood insurance?
Anaum Hussain, sophomore communication major, is a reporter for The Current.
Be the first to comment on "Don’t force us to buy flood insurance"