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"pay for the privilege"
Posted by Craig [Email] (more from Craig) on Thu, 18 Sep 2008 09:32:30
In Reply to: Re: Way OT: Hurricanes and barrier beaches, swede-murphy [Profile/Gallery]
, Wed, 17 Sep 2008 20:53:22
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Correct me if I'm wrong on this, but by the fact that you're paying for federal flood insurance, you live in an area where private insurance companies won't provide coverage. So while you're paying extra to live in a flood area, you're paying below market rates with the federal government essentially assuming the rest of the risk. So while yes, you are paying for the privilege, you're paying less than the actual cost of the privilege with the federal government assuming the rest.
Craig
posted by 69.134.202...
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