Homeowner's Insurance

Does anyone have any experience with (or info about) Universal Property and Casualty Insurance Company?

Unbelievable. Does the federal government have a monopoly on flood insurance, or are there private options?

They've got probably 85-90% of the market, and are frequently significantly cheaper than having to go the private market unless you're talking very high dollar (ie. million dollars or more) structures. I remember some discussion about that here many moons ago.

The feds are less than thrilled with being in the insurance biz, but only really got into it because the private insurance companies didn't feel like the risk was worth the profit potential for them. I suspect they'd love it if the private market would undercut them for the low-moderate-medium value homes that are the NFIP's bread and butter.

. I suspect they'd love it if the private market would undercut them for the low-moderate-medium value homes that are the NFIP's bread and butter.

HUH?

The NFIP has a limit of $250K.

There is NO way insurance companies would supplant the NFIP.

Get a private insurance quote and you will see how the magnitude of the NFIP bailout.

Granted it helps around here.

That article was very revealing. Since this is real estate I'll avoid making comparisons between the success fo federallly funded flood insurance and federally funded health insurance.

One difference is everyone needs health insurance.

HUH?

Get a private insurance quote and you will see how the magnitude of the NFIP bailout.

Granted it helps around here.

End of the day, I think that the feds are as thrilled to be running the NFIP as the state of Florida is to be running Citizen's. But the political will is there because it's a program that provides benefit to both private citizens directly and businesses/developers indirectly.

...somehow I smelled the GCT & SS in your future.

Didn't get the house. Try, try again.

Didn't get the house. Try, try again.

There's plenty of homes in the sea (read: underwater)--take what you've learned and apply it to the next opportunity. There's more granite and stainless steel bubble-houses out there and many, many more to come. Trust that what happened was meant to be and move on to the next.

And for goodness sakes, don't let the "Now's a Great Time to Buy" crappola get you jiggy.

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