With Alabama's Coastal storms, a homebuyer must seek the best coverage. But, will the 'wind and flood' bill pass and offer more affordable coverage?

Quite unexpectedly, the ‘wind and flood’ bill passed the
House in September as part of a broader remodeling of the flood program. But it hasn’t become a law yet and is facing
a possible veto threat at the White House. 

This ‘wind and flood’ bill would allow the federal government
to offer coverage for wind as well as flood damage to the insured. This would be of interest particularly to the
Gulf Coast of Alabama where they have been seeing heaps of storm damage claims
that have become known as ‘wind vs. water’ lawsuits. The bill would also mean that the risk would be spread over a larger area and lower the overhead; which is particularly good news for the sky-rocketed costs of the value of property covered by the ‘beach pool.’

The hope of this bill is to place flood and wind coverage
both under the same federal bill and not place insurance companies that carry
wind coverage in a position to always go for the ‘flood’ damage out that is the
federal government’s coverage responsibility.

The impact of this bill will be hug considering that Alabama
residents alone hold about 55,000 policies of the estimated 5.5 million in the
program.

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