We Need to Reform Flood and Hurricane Insurance

We don't currently charge those in flood/hurricane-prone locations sufficiently. And, that makes the rest of the USA pay for cheaper housing in those areas.

 The National Flood Program is in the hole, financially. This has to stop. A really bad season can wipe out disaster relief for years to come.

Let's start phasing in the changes - at the end of the next 10 years, ALL locations in the USA must have their residents charged according to what their actual risks are. What will that likely mean?

• In some locations, housing will become absolutely unaffordable. Housing, for all but the very rich, will be higher than can be paid for.
• Some weather-disaster-prone locations will experience less growth, even shrinkage.
• Other areas will find that they are advantaged, as they seldom have catastrophic events happen.
• Individuals will try to go without insurance. Some will be wiped out.
• Bankers, on the hook for much of the money, will refuse loans for those not having high enough levels of insurance.
• NGO's will start screaming 'RACISM' - cuz' that's what they do.

The approach mentioned here, is wrong-headed. I'm in favor of Tough Love - for the next 5 years, those wiped out by flood damage can EITHER:

• Get a check, OR
• Rebuild in the same place

It's a relatively gentle boot in the butt to locate in a NON-flood-prone area. It's a ONE-TIME payout, for the lowest-cost housing ONLY. Those with homes above some set amount will receive NOTHING. If you can afford a pricey home, you can afford to insure it properly.

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