House Insurance, recent floods is there any point in having insurance now?

GSBellew

Going to get backlash for this no doubt, but here goes.

Whilst I have sympathy for people who were caught out in the recent and previous flooding, with the government moving to compensate homeowners and business who have been impacted by flooding is there any real reason for others to pay for insurance cover beyond the requirements of coverage for borrowings.

Personal responsibility appears to be a thing of the past now, in that even if you have not taken the steps to have adequate coverage you can rely on the tax payer to step in and cover you anyway.

So, in our ever more socialist state, should people bother taking steps to protect their property? Would they not be better keep that money as they will be covered by the state if it comes to it.

Ten of Swords

Whilst I have sympathy for people who were caught out in the recent and previous flooding

Do you though?

GSBellew

https://www.boards.ie/discussion/comment/121269780#Comment_121269780

I do, must be crap, but thats why insurance is available, if we have de-facto state coverage it renders insurance redundant.

In other words, If the tax payer has to cover insurable events then there is no reason to have insurance for these events.

HorseSea

https://www.boards.ie/discussion/2058319132/house-insurance-recent-floods-is-there-any-point-in-having-insurance-now

A lot of the properties flooded would not have had flood cover already, or have had a massive excess applied, or if they did have cover won't have it from next renewal.

GSBellew

https://www.boards.ie/discussion/comment/121269803#Comment_121269803

I pay a massive premium because other properties in my area had claims before, so should I not pay now because I am covered anyway?

HorseSea

https://www.boards.ie/discussion/comment/121269806#Comment_121269806

Your choice, I wouldn't count on the government to come to the party everytime. Remember most of those houses / businesses are unsaleable too.

Atlantic Dawn

If the elected TD's fadder built the road I'm shure the idiot population of the towns will vote for him again.

GSBellew

https://www.boards.ie/discussion/comment/121269807#Comment_121269807

But they do, and they will again, do not forget that most of Dublin has the potential to be a flood plain within 20 years, so we will all be paying for that too

Is the govt paying to fix homes after floods? Got any further info op? They never have before and I doubt if they are going to start now

What is being provided is humanitarian assistance and support.

Apart from floods, insurance covers lots of other things. Fire, theft, subsidence, etc.

Akrasia

There is no way the government are going to pay the same level of compensation that an insurance policy will. (if the people could even have gotten flood insurance

eightieschewbaccy

Most of my estate are making insurance claims and none of us are expecting some magical government compensation. I'm a lucky one overall in terms of minimal enough damage. The government scheme is gonna give me something back but not a whole lot.

And honestly, you can bitch about your premiums but I think everyone in the towns affected are full on traumatised. Nobody in Midleton town has flood coverage, same for one of the other estates. It's still sinking in for myself, first two days I was coping but since yesterday I've been a mixed of depressed and angry. Honestly the fact this is your reaction instead of being angered by the failure of the state to deliver flood relief schemes in a timely fashion.