Trent Lott: Insurance paying to rebuild his waterfront home?

[Bozita]

An awful lot of folks are having trouble collecting.

How about Trent's place?

[warrens]

1. I dunno

Did he have flood insurance? Does his insurance company wish to continue in business? Or does it wish to be nationalized and sold to some conglomerate based in Dubai?

[BOSSHOG]

2. He has sued State Farm

Our Congressman in South Mississippi, Gene Taylor (D), said that a national registry for insurance executives should be established like the one for sex offenders. Gene lost his home in Bay St Louis.

[Hubert Flottz]

5. I wish Gene Taylor had ran against the atomic cheerleader from

hell. I'll bet you he'd kick the pig shit out of Trent.

[BOSSHOG]

9. Gene would win in South Mississippi

but I don't know if he could win statewide. I would rather he continue to gain seniority in the House. Actually south Mississippi would be a tussle for him and Trent since both of them are from the coast. Gene has token opposition from some yahoo republican from Biloxi who wants to take care of the taxpayers money. Gotta love those republicans who want to take care of our tax money.

[Hubert Flottz]

10. Taylor is a good man!

I've watched him go to bat for the storm victims. He don't cut the rats any slack. We need lots more like him in Washington.

[BOSSHOG]

12. Another Taylorism from current events

"FEMA could screw up a one car funeral procession." I'm fortunate to have a veteran like him (and a democrat) as my representative in South Mississippi of all places.

[Skidmore]

6. Well, why isn't he helping his constituents sue, then, or making

it easier for them to get assistance?

[in_cog_ni_to]

3. Being a US Senator, I'm sure his insurance company paid up. n/t

[pitohui]

11. you're wrong, they didn't pay

last i heard he had joined the lawsuit against state farm

storm surge got 'em, this is flood insurance and not wind, and flood insurance is capped -- eh, i'm forgetting the figure, i think it's $250K -- his home was valued at $750K so a flood insurance claim is not a pimple on the butt of the money he needs to rebuild

his entire neighborhood was destroyed

[in_cog_ni_to]

16. Well I'll be damned. n/t

[bleedingheart]

4. last I heard he is fighting state farm...

his home wasn't covered by flood insurance so he insists it is wind damage...but State Farm says it was flood damage...

[Horse with no Name]

8. It is a fight many are having

If you jump off of a building intending to commit suicide and get shot on the way down by a stray bullet, the person that fired the bullet is legally responsible for your death.
On the same note, if you roof wasn't ripped off by 175 mile an hour winds, the rain wouldn't have been able to flood your home.
But the deal is, insurance isn't going to paid and they aren't going to be made to pay.
Each person is having to fight these battles on their own which I think is despicable. There should be government intervention so they can get this mess cleaned up.

[pitohui]

14. on a technical note

if his roof had been ripped off and the rain flooded the house falling from the sky, state farm would've paid under his homeowner's policy

been there, done that!

rising water is covered under a separate policy, the national flood insurance program, for whatever reason, while the coverage it provides is better than not being able to get any flood coverage at all, the reality is that it is not a profitable insurance to sell and it does not provide as good of coverage as regular homeowner's insurance, most importantly, there is a cap on what you can collect, it doesn't matter if you lost a five million dollar home, all you get is the maximum cap on the coverage, which is around $250K

as lott's house was destroyed by storm surge, which is rising water by any definition, i think he's screwed as far as getting sufficient money to replace his home, it won't even be close to enough

[Horse with no Name]

15. Some of my friends in that neck of the woods

State that yes, there was a storm surge, however, the wind and rain came first.:shrug:

[pitohui]

17. well here is the problem

if you have some documentation that the house was already destroyed by wind, you'd be OK, because you could collect under homeowner's

however if you were on the beach at biloxi snapping photographs when the storm surge came and washed everything away down to the slab, then you're dead, jim, and collecting on your insurance is the least of your problems

one of my friends lost two million dollar homes at bay st. louis/waveland, another's friend's apartment at gulfport was completely vanished from this earth

there is too little left for them to be able to show what was damaged before the storm surge hit

now i do know a friend in lakeview whose house was destroyed by the 17th street canal breach, because his home was not entirely washed away, he can show that there was a huge oak tree on the roof, which is clearly wind damage, his homeowner's insurance is actually giving him enough money to remove the tree (not that the tree will be removed, the structure must be demolished because of the flood damage) but even a few thousand extra dollars from his home owner's policy is worth going after since the flood insurance is capped and his home is worth more than that


so your friends have a point but they are going to have issue proving their point, even in lakeview w. a tree obviously on his house, my friend had some difficulty getting his homeowner's insurer to come out because he was on a map of an area supposedly totaled by flood

[The Backlash Cometh]

7. What is his deductible?

If it's high, has someone figured how to reimburse him through a back door?

[pitohui]

13. deductible ain't the issue

for many home-owners even home-owners who have a $250 or $500 plan when it's a hurricane the deductible is raised to $2K

it isn't the $2K, i'm sure the senator can come up w. $2k to meet a deductible just fine

it's the argument between the nat'l flood insurance coverage and homeowner's coverage, you buy homeowner's insurance that covers the complete cost of home and contents, whereas flood insurance is capped

lott's home was completely swept away, ain't nothing left but a slab

if he could collect under his homeowner's, he can afford to rebuild and refurnish his $750K home because he would be receiving the policy maximum

but flood insurance, assuming he even had it, is capped at around $250K, it doesn't even come close to making him whole, if he had a mortgage, which most folks do, he would still be in debt and required to make payments on a property that no longer exists

state farm argues, and correctly alas under current law, that his loss is a flood loss and he can't claim anything under homeowner's policy


you may not care for mr. lott, ain't got much use for him myself, but his entire neighborhood and many others were destroyed like this, including many fine homes, and it becomes a big issue

if we can't insure homes worth more than $250K (including contents) then this puts a really low limit on the contruction industry, what homes people can build and buy, it puts an upper limit on the economic development of the region

so it is an issue that prob. needs to be addressed in some manner

i read his interview abt this back in january, more recent information from anyone greatly appreciated

[The Backlash Cometh]

18. $2K is nothing.

In Florida deductibles are 2%-5% the value of the house. So, a house worth $500,000 would have a deductible of $10,000-$25,000.