We are hearing stories like that a lot here in New Jersey.  There was a lady on the radio Tuesday morning wanting to know how Governor Christie could help her since her vaction home was ruined.  She didn't have flood insurance because her family has owned the home for decades without a mortgage company telling her she had to have it.  And of course homeowner's insurance only covers wind and rain damage, not surging tides.  She thinks the government owes her back a beach house on the Jersey Shore.

I wanted to reach right through the speakers and shake her and say, why should I be paying for your beach house?  If you took the risk of not maintaining insurance on your home, then shame on you when a distaster strikes.  The most I think this lady should have is a loan to rebuild properly and a lender requiring her to have this insurance in the future.  Because odds are now, she is going to need it.