Quote:
Originally Posted by Mattyk72
I've said that ultimately people are responsible for evaluating their own risk level, BUT, if I'm given bad info and make a decision based on that bad info... shouldn't there be some recourse?
If a bank tells you that you don't need flood insurance because you lived in a low risk area... is it so unreasonable to think that some people might decline the coverage?
We sure are quick to bail out bad decisions made by big corporations, but when the little guy makes a bad decision all bets are off it seems.
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No its not unreasonable to think that when banks say they are in a low risk area people tend to not buy flood ins. AS I stated earlier I sell flood ins and have to deal with people daily who had a bank, realator, or someone say that they are not in a flood zone or that they are in a low risk zone. I do believe the bank notice does state that you may want to check with your agent and that you may still need coverage.
Goverment bails out very few corporations that fail so thats not a very good example.