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Posted by ng_reader on March 24, 2008, 11:23 am
To answer your point, though, not really.
You may have some recourse with whomever sold you flood insurance that caps
at $5000.
Although that plan likely covers only the dwelling and not the contents, but
you try and hire a contractor to build you a new home for 5k. Not bloody
likely. So - you are UNDER insured.
The rule of thumb in insurance is rising water is not covered, falling water
IS. The opposite for flood.
HTH
>>I have lived in my home for 6 years. When I bought the home, one of the
>> biggest selling points was the dry basement. Neither the street I live on
>> or
>> the house had seen flooding in over 35 years. Some of the older homes had
>> "wet" basements because they were built before sump pumps were invented.
>> The
>> water would enter through a drain in the basement. But even when it
>> rained
>> really hard - I never saw a drop in my basement. I have a sump pump and
>> the
>> crock has always been relatively dry. Being a single mom, I still
>> purchased
>> flood insurance "just in case". I dry locked the walls and floors and
>> stuccoed the inside walls. This past October, we finished the basement
>> with
>> drywall and added bedrooms for my kids. Carpet, entertainment center,
>> exercise equipment - the whole deal. This year.....we flooded.
>>
>> The water table in our town is so high rght now, the water has no where
>> to go.
>> Everyone on my street has been pumping out water for over 5 days - it is
>> going nowhere. My walls on my first floor are cracking. My doors won't
>> shut
>> and worst, we just noticed that the basement flooring is buckling. The
>> water
>> is now coming through the floor in the basement and we see no relief.
>>
>> My flood insurance gave me a cap of $5,000.00. Not sure if my Homeowners
>> will
>> cover any more of it, but the adjuster said it is doubtful. I still have
>> a
>> Lake in my front yard and a pond in my back yard. Four sump pumps in my
>> basement are keeping the water down low enough to run the furnace and the
>> water heater. All of my neighbors are in similar shape and we are just
>> entering the rainy season.
>>
>> Has anyone out there ever dealt with this? What do we do? Will our floors
>> and
>> walls crack more? Is it fixable? Should our homeowners insurance cover
>> more
>> than the flood insurance. We are not in a flood zone - so most didn't
>> even
>> have flood insurance. We are all at a loss. Please help.
>>
>
>
> Where do you live?
>
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