|
This is really simple:
If you live in an area that is susceptible to storm surge/floods--any occurance of water from a body of water touching your house--than you MUST buy flood insurance. Are people idiots? Surely Trent Lott is smart enough to read his policy and rich enough to buy appropriate coverage.
If you redefine the coverage of an insurance policy after the fact, you destroy the entire concept of insuring against risks. If non-flood insurance covered floods, then the rates would be higher and the insurance companies would have re-insured against that risk.
These lawsuits could make the whole system break down. What idiots. It's not like insurance companies exist in a vacuum.
|