How about instead, quit paying the ones that collect, collect, and collect, and raise the premiums for the rest of us.
I am refinancing my condo I have lieved in for 7 years and have had a mortgage on.
the condo was built in the 80;s and NEVER was in a flood zone, albeit it is on the river. Out of nowhere, the bank sent me notice, get flood ins or we will get it for you.
Or I could get a review from FEMA...which would take at least 6 months.
They put 1300 dollars on my mortgage claiming my ins company ( where I got my own flood ins for $600) didn’t get them the proof. (MY condo assoc —14 condos — refused to get ins for the whole bldg cause we never had the need and most of the owners don’t have a mortgage.
Then it took me over a month to get the $1300 bank ins company “policy” off and get my money back. Here ensued countles 3 way calls with my insurance agent with such responses as “Oh that wasn’t the right fax number to fax it to us” or “OH, it will take 15 days to process this.”...on and on and on.
It is a scam the banks are running..they got one of my neighbors for $3200...
And its all LEGAL.