As some of you may know, the US Government has a monopoly on flood insurance. As we were warned last week of the coming rains, I decided to look into the subject, and one of the things I discovered was that there’s a 30-day activation period when you buy it, I guess to keep folks like me from signing up when inundation is imminent. So we’ll take a financial hit on this one — it’ll sting, but we’ll be OK.
Apparently the government insurers believe that folks would simply sign up for insurance (which is expensive) during high-risk periods, and drop it during other times. Of course, if the government were forced to insure anyone who applied — despite the pre-existing condition of living in a possible flood area — it would be a financial nightmare, right? Fortunately, our legislators had the wisdom to avoid such foolishness.
Hey — does something about this conversation sound familiar?