The Biggert-Waters legislation was written to replenish the coffers of the National Flood Insurance Program. It is ill-conceived and draconian. And it does nothing to fix the real problem: shoddy construction on low coastal areas. A truly future-looking and comprehensive plan would not only adjust the rates, but adjust them in a way that encourages sound construction in coastal areas. By that, I mean that homeowner’s rates should be adjusted: 1) on the type of substrate (people who build on sandy barrier islands are more likely to experience losses than those who build on solid rock in the Keys); 2) the type of construction (cast concrete is the strongest, then concrete block, then wood); and 3) the actual height of the floor of the house above sea level (a house on 10 foot pilings on an island 3 feet above sea level will have less flood damage than one on the ground at that same location). Biggert-Waters simply flogs homeowners, while ignoring a permanent fix to huge damage claims. Build better homes, and there will be fewer claims — duh!
that’s the reason i did not buy the 627-629 Eaton St building.
The Biggert-Waters legislation was written to replenish the coffers of the National Flood Insurance Program. It is ill-conceived and draconian. And it does nothing to fix the real problem: shoddy construction on low coastal areas. A truly future-looking and comprehensive plan would not only adjust the rates, but adjust them in a way that encourages sound construction in coastal areas. By that, I mean that homeowner’s rates should be adjusted: 1) on the type of substrate (people who build on sandy barrier islands are more likely to experience losses than those who build on solid rock in the Keys); 2) the type of construction (cast concrete is the strongest, then concrete block, then wood); and 3) the actual height of the floor of the house above sea level (a house on 10 foot pilings on an island 3 feet above sea level will have less flood damage than one on the ground at that same location). Biggert-Waters simply flogs homeowners, while ignoring a permanent fix to huge damage claims. Build better homes, and there will be fewer claims — duh!