Monday, January 07, 2008

Wrong. Just Wrong.

My inlaws are getting the newspaper from a friend who is on vacation. Every morning they bring it over to my place - in fact, my father in law just brought todays paper to me.

While there are a lot of ways to read local news online, I do love the paper - not enough to get a subscription though!

A few days ago I read an article in the paper. In the spring of 2007, due to a problem with the cities NOT THE HOMEOWNERS drainage, a bunch of peoples houses were flooded - with sewage.

The city has fixed the problem, the home owners insurance has paid for the fix, and it will not happen again.

The problem is that now the home owners who were flooded - through no fault of their own, who have a written letter from the city for insurance providers explaining about why the flooding happened and what has been done to ensure it does not happen again- the home owners cannot get insurance.

No one, not even SGI, the government owned insurance company will give them coverage.

For some, this is a scary problem, they are not covered from theft, fire, nothing, for others it is even more of an issue.

When we got our mortgage one of the clauses is that we carry home owners insurance on the house. If the insurance lapses, our home will be foreclosed.

I can understand that the companies do not like to pay out to fix things, but they are getting monthly or yearly payments to cover the things they fix. Also, the flooding will not happen again, there was a problem with the city and its inability to deal with spring run off. Its fixed. its done.

At the very least, the insurance companies ought to give them coverage for everything but flood - after all they are refusing them on the grounds of the flood, so why not give them the rest?

I think they are just being cheap bastards and I hope like hell nothing happens to the home owners while their houses are uninsured!

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