So, here is the deal, and we in Louisiana and South east Texas have learned it over the past decade.
If you own a home in a hurricane zone, your storm deductible is set at about 20% of the value of the home. And, if you don't have flood insurance, nothing is covered if you are house floods.
In the clip below, Varney talks about the economic impacts of the recent hurricane in Florida. These impacts are on the property owners, and if his figures are correct, many of them will be wiped out. Property in southwest Florida just got a whole lot cheaper, and I'm not in the market for any of it.