Fundraising for Katrina victims - an option
Sep 5th, 2005, 01:36 PM
#41
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Hi Crefloors, too true! I have some family members that are not wealthy but the value of their homes are worth so much now as you know. Some people complain about Prop 13 but it has allowed seniors to stay in the house they spent 30 years struggling to pay off so personally I think it is a good things.
But sure worry about the young families and the fact that such a low percent can afford to buy a house in these times.
And the Oakland fire. What a nightmare that was! I remember that Sunday morning like it was yesterday! Even though we were in Benicia it was sooo hot by 10:00am and suddenly a vicious hot wind came up and actually bent our trees to the ground. And then the fires errupted in the beautiful Oakland hills.
And one of the sad things was that so many homeowners had not increased their HO insurance over the years to correspond to the cost of rebuilding.
What a lot of people do not understand is this. The value of your house, the equity and/or what your house would sell for should not concern you when it comes to insurance. What your mortgage is on your house is of no matter either when figuring replacement cost to rebuild.
You need to know the square footage of your house. And is it one story, two story etc. Is a a basic plan, a semi-custom, an individual custom home. Then find out what it would cost to rebuild that house, same size and ammenties. A good contractor should be able to tell you this. So should a good insurance agent. In otherwords, what would your house cost to build per square footage? Do not worry about the value of the actual land, that will still be there. If you have an older home do ask your insurance co. about buying the endorsement to your HO policy that will cover you for upgrading code requirements in your community. If you home is older it no doubt will not be up to your local and state code. Rebuilding will require the house be built to today's higher standards. That is normally a cost over and above the following example (2500 sq ft at $200.00 per sq ft to rebuild).
So if you have say a 2500 sq ft house and the building cost in your area for like and kind is $200.00 per sq ft then insure your dwelling for $500.000.
Can't afford the premium? Take the largest deductible your insurance co. offers. That will keep the premium lower. And then work at taking the amount of the deductible and save that amount and put it into a safe investment such as a MM a/c at your bank.
And don't take the attitude that you are insured properly because the mortage co. has not asked you to increase your coverage. All they care about it that you are insured up to the value of the amount of your mortage loan. And of course the longer you own your house the lower your mortgage loan is. So they don't care, and have no obligation to advise you that you are underinsured.
Do not buy insurance for claims that you can cover yourself. Buy your insurance and keep it up to date to cover you for that which you would not be able to replace out of pocket.
Good grief....think that is my Tape 29 regarding insurance, LOL. Cheers!
But sure worry about the young families and the fact that such a low percent can afford to buy a house in these times.
And the Oakland fire. What a nightmare that was! I remember that Sunday morning like it was yesterday! Even though we were in Benicia it was sooo hot by 10:00am and suddenly a vicious hot wind came up and actually bent our trees to the ground. And then the fires errupted in the beautiful Oakland hills.
And one of the sad things was that so many homeowners had not increased their HO insurance over the years to correspond to the cost of rebuilding.
What a lot of people do not understand is this. The value of your house, the equity and/or what your house would sell for should not concern you when it comes to insurance. What your mortgage is on your house is of no matter either when figuring replacement cost to rebuild.
You need to know the square footage of your house. And is it one story, two story etc. Is a a basic plan, a semi-custom, an individual custom home. Then find out what it would cost to rebuild that house, same size and ammenties. A good contractor should be able to tell you this. So should a good insurance agent. In otherwords, what would your house cost to build per square footage? Do not worry about the value of the actual land, that will still be there. If you have an older home do ask your insurance co. about buying the endorsement to your HO policy that will cover you for upgrading code requirements in your community. If you home is older it no doubt will not be up to your local and state code. Rebuilding will require the house be built to today's higher standards. That is normally a cost over and above the following example (2500 sq ft at $200.00 per sq ft to rebuild).
So if you have say a 2500 sq ft house and the building cost in your area for like and kind is $200.00 per sq ft then insure your dwelling for $500.000.
Can't afford the premium? Take the largest deductible your insurance co. offers. That will keep the premium lower. And then work at taking the amount of the deductible and save that amount and put it into a safe investment such as a MM a/c at your bank.
And don't take the attitude that you are insured properly because the mortage co. has not asked you to increase your coverage. All they care about it that you are insured up to the value of the amount of your mortage loan. And of course the longer you own your house the lower your mortgage loan is. So they don't care, and have no obligation to advise you that you are underinsured.
Do not buy insurance for claims that you can cover yourself. Buy your insurance and keep it up to date to cover you for that which you would not be able to replace out of pocket.
Good grief....think that is my Tape 29 regarding insurance, LOL. Cheers!
Sep 5th, 2005, 01:49 PM
#42
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"Do not buy insurance for claims that you can cover yourself. Buy your insurance and keep it up to date to cover you for that which you would not be able to replace out of pocket."
This is about the best advice I've ever seen on this forum! And it can apply to travel!
This is about the best advice I've ever seen on this forum! And it can apply to travel!
Sep 5th, 2005, 02:06 PM
#43
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That's a very interesting point -- about covering what you can afford yourself. I've never done trip insurance and the amount I've saved with all the very long trips I've taken would pay for a full 6 month trip I suppose. And if I did have to cancel a trip, I wouldn't be happy, but I could afford to cover it. And if I had to do so with one trip, it would still be less than what I would have paid out in insurance for all my trips.
Meanwhile I have clients with a home worth a couple million dollars. When their insurance costs escalated to approaching $100,000 a year several years ago, they decided to go without (although they have a separate liability policy). So they cancelled all their homeowners, flood, fire, wind, etc. If worse came to worse, they could afford to replace the entire house. But this year they are selling and moving to a "retirement" apartment. He mentioned that they have saved over $500,000 by NOT buying insurance over the past 5 or 6 years. That kind of gamble isn't for all of us, but they felt it was smart for them.
Meanwhile I have clients with a home worth a couple million dollars. When their insurance costs escalated to approaching $100,000 a year several years ago, they decided to go without (although they have a separate liability policy). So they cancelled all their homeowners, flood, fire, wind, etc. If worse came to worse, they could afford to replace the entire house. But this year they are selling and moving to a "retirement" apartment. He mentioned that they have saved over $500,000 by NOT buying insurance over the past 5 or 6 years. That kind of gamble isn't for all of us, but they felt it was smart for them.
Sep 5th, 2005, 02:08 PM
#44
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Well thank you Judy, if I have helped anyone understand insurance that is a good feeling.
And not to belabor the subject but a thought just struck me. Especially since a tenant in another building where I live put a pot on the stove the other morning, forgot about it and went to work. Fortunatly the FD arrived and took care of the situation before flames erupted. But oh my, the smoke that poured out of the apt. was amazing. I know all his upholstered pieces either have to be cleaned by professionals or replaced.
For anyone that rents. Please, buy renters insurance. Your landlord has insurance on the house, apartment building etc but they do NOT cover your personal belongings. So many people think they do. A renters policy does not cost that much. Wander around and mentally add up what you own and what it would cost to replace.
Also, if you, the tenant, are responsible for the damage to the rental the landlords insurance co. can will come after you to pay for the damage. That is called subergation. If you have a Renters policy you will have liability included in the policy. This will cover you if you are responsible for the damage (like leaving a pot on the stove). Buy more then the minimum liability offered under the Renters policy. And do an inventory of your personal belongings, including in cabinets and closets. Take photos or video tape your belongings. Put this info somewhere other then in your residence such as a safe deposit box or a family or good friends house. You don't want this info burned up with your belongings.
This will "prove" to your insurance co that you had what you say you had. It will also help you remember all the items you own. You cannot imagine what even all your kitchen supplies, bathroom supplies, linen closets items etc. can add up to.
And you should get a Renters policy that will give you coverage to replace your lost items at todays price, without any depreciation. That is important. So that 27 inch TV that is 15 years old can be replaced with like and kind etc. The queen size mattress set, the sofa etc.
But may we all be safe with no calamities.
And not to belabor the subject but a thought just struck me. Especially since a tenant in another building where I live put a pot on the stove the other morning, forgot about it and went to work. Fortunatly the FD arrived and took care of the situation before flames erupted. But oh my, the smoke that poured out of the apt. was amazing. I know all his upholstered pieces either have to be cleaned by professionals or replaced.
For anyone that rents. Please, buy renters insurance. Your landlord has insurance on the house, apartment building etc but they do NOT cover your personal belongings. So many people think they do. A renters policy does not cost that much. Wander around and mentally add up what you own and what it would cost to replace.
Also, if you, the tenant, are responsible for the damage to the rental the landlords insurance co. can will come after you to pay for the damage. That is called subergation. If you have a Renters policy you will have liability included in the policy. This will cover you if you are responsible for the damage (like leaving a pot on the stove). Buy more then the minimum liability offered under the Renters policy. And do an inventory of your personal belongings, including in cabinets and closets. Take photos or video tape your belongings. Put this info somewhere other then in your residence such as a safe deposit box or a family or good friends house. You don't want this info burned up with your belongings.
This will "prove" to your insurance co that you had what you say you had. It will also help you remember all the items you own. You cannot imagine what even all your kitchen supplies, bathroom supplies, linen closets items etc. can add up to.
And you should get a Renters policy that will give you coverage to replace your lost items at todays price, without any depreciation. That is important. So that 27 inch TV that is 15 years old can be replaced with like and kind etc. The queen size mattress set, the sofa etc.
But may we all be safe with no calamities.
Sep 5th, 2005, 02:21 PM
#45
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Thanks Kavey for providing just one more means to help us raise a few more bucks for the cause. I for one took advantage and ordered a lovely photo for my grand daughter. In the years to come I will tell her how she happened to come in possession of such a lovely token of good will. Meanwhile, I will remind myself that I'd rather part with my money freely through charitable donations than to have the federal government confiscate it arbitrarily through taxes.
Take care!
Sep 5th, 2005, 03:26 PM
#49
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This article explains why a lot of people were not able to leave: www.wtopnews.com/index.ph...sid=563880
I still wonder why the city of New Orleans didn't use their buses to evacuate people, though.
Lee Ann
I still wonder why the city of New Orleans didn't use their buses to evacuate people, though.
Lee Ann
Sep 5th, 2005, 03:42 PM
#50
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The city didn't use their buses because they were under water. Just saw an ariel photo and they are STILL under water. Coulda, woulda, shoulda...moved them to higher ground before the storm. Once the sea wall broke, they were done for.
Sep 5th, 2005, 03:44 PM
#51
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The evacuation order was given only 24 hours before Katrina struck..by that time it was a mute point. Did you see the pictures of those highways? There is NO way they could have gotten that city emptied out in 24 hours or less.
Sep 5th, 2005, 04:20 PM
#52
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I saw a story (last night? the night before? channel? It all runs together...) about a teenage boy who found a school bus, in a parking lot, with the keys in the ignition. Obviously not knowing how to drive a bus, he turned the key and started driving. He picked up as many people as he could on his way out of town. Great story, but if there were buses so easily accessible, why wasn't anyone else using them?
Sep 5th, 2005, 04:24 PM
#53
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Sorry, I also meant to say thank you to Kavey for having the initiative and creativity to turn your hobby into a fundraising event. It's one thing to wring your hands and agonize over something, but you're taking action and I applaud you. 
Sep 5th, 2005, 04:25 PM
#54
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Don't watch Anderson Cooper if you don't want to cry over the pets.
There are concerts and events being planned all over this part of the US to raise money for the victims. Portland is sending a huge amount of guardsmen .. they are preparing to leave now.
And Portland is about to receive about a thousand survivors here..
I think by the end of this week, there will be a huge difference in the circumstances of those poor people...*I hope*
There are concerts and events being planned all over this part of the US to raise money for the victims. Portland is sending a huge amount of guardsmen .. they are preparing to leave now.
And Portland is about to receive about a thousand survivors here..
I think by the end of this week, there will be a huge difference in the circumstances of those poor people...*I hope*
Sep 5th, 2005, 04:56 PM
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>>The city didn't use their buses because they were under water.<<
They weren't underwater before Katrina went past and the levees broke.
I realize some people still wouldn't have left, but I bet a lot of people wouldn't have died if the city had gotten out the buses, given people a short time to get some stuff together, and helped them leave.
Lee Ann
They weren't underwater before Katrina went past and the levees broke.
I realize some people still wouldn't have left, but I bet a lot of people wouldn't have died if the city had gotten out the buses, given people a short time to get some stuff together, and helped them leave.
Lee Ann
Sep 5th, 2005, 05:22 PM
#56
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I completely agree with M-kingdom. Nothing should be expected from Europe. Likewise, Europe should fend for itself.
Of course, that wasn't the case throughout the entire 20th century, when Europe created massive world wars that resulted in <b>hundreds</b> of millions dead. And not to mention to the post-coldwar period, when America single-handlely protested Europe for dozens of years (is there even such a thing as a European Union army? I didn't think so).
So ingrates are ingrates. Let the Euros fend for themselves. <i>That</i> will be funny!
My guess is they will come begging for help very soon...
Of course, that wasn't the case throughout the entire 20th century, when Europe created massive world wars that resulted in <b>hundreds</b> of millions dead. And not to mention to the post-coldwar period, when America single-handlely protested Europe for dozens of years (is there even such a thing as a European Union army? I didn't think so).
So ingrates are ingrates. Let the Euros fend for themselves. <i>That</i> will be funny!
My guess is they will come begging for help very soon...
Sep 5th, 2005, 05:39 PM
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Kavey, I'm not sure if you'll even see my post before this thread is pulled but I wanted to thank you for sharing hope, and for providing another option for people who CHOOSE to donate to this disaster.
Sep 5th, 2005, 05:52 PM
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Please let me put this into perspective for you. On Friday at noon, this storm was heading for Florida and was not an issue for us in New Orleans. By 4:00, the updates said it was heading our way, and might be a 3 when it hit on Monday night. My company (a bank) implemented our DR plan just in case, and we notified staff. By now, it was 5:00 on a Friday, and many were gone for the weekend. Many, many people had no idea until Saturday that this was a major storm. I left on Saturday at 2:00, expecting to be home on Tuesday. I took my photos, a suitcase of clothes, a few work items so I could work from my parent's home on Monday, and my dogs. Little did I know that it will be months before I can go home. I am one of the lucky ones...my home is apparently relatively unharmed, I still have a job, and my family is all safe and accounted for. I still have not contacted all of my friends, but I pray that this is only because of the phone problems.
Contrast this with one of my staff...her inlaws are missing (I don't know why they didn't evac, but I know they don't have a car). They know they were rescued from the rising waters, but have no idea where they are. She and her husband and 3 children are living in hotels some nights, shelters others. They just bought a home; it is destroyed. His job is gone. She has to get her kids in school somewhere, but the schools are gone. Our company is going to continue pay for a while and is providing assistance to our displaced employees, but most companies can't do that. Insurance will cover some losses, but how long before they are both fully employed again? Do you have any idea how much it costs to buy the basics for a home again?
I have 2 pair of shoes with me, and about 5 outfits. I can afford to buy new clothes, but many cannot. It will be months before there is any sense of normalcy. Many people are being evac'd to cities where they know no one, and have no means to leave the shelters. THAT is why we need help, and we need it from individuals, companies, insurance, and governments.
Thanks to all of you for your donations of money and goods, and your prayers. PLEASE quit making this political...we don't need that. We are a strong bunch of people, and will make it, but not if we have to fight public sentiment, in the US or elsewhere in the world.
Anne
Contrast this with one of my staff...her inlaws are missing (I don't know why they didn't evac, but I know they don't have a car). They know they were rescued from the rising waters, but have no idea where they are. She and her husband and 3 children are living in hotels some nights, shelters others. They just bought a home; it is destroyed. His job is gone. She has to get her kids in school somewhere, but the schools are gone. Our company is going to continue pay for a while and is providing assistance to our displaced employees, but most companies can't do that. Insurance will cover some losses, but how long before they are both fully employed again? Do you have any idea how much it costs to buy the basics for a home again?
I have 2 pair of shoes with me, and about 5 outfits. I can afford to buy new clothes, but many cannot. It will be months before there is any sense of normalcy. Many people are being evac'd to cities where they know no one, and have no means to leave the shelters. THAT is why we need help, and we need it from individuals, companies, insurance, and governments.
Thanks to all of you for your donations of money and goods, and your prayers. PLEASE quit making this political...we don't need that. We are a strong bunch of people, and will make it, but not if we have to fight public sentiment, in the US or elsewhere in the world.
Anne
Sep 5th, 2005, 05:55 PM
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Here's a site that gives a breakdown by country donations to this disaster:
http://edition.cnn.com/2005/US/09/03/katrina.world.aid/
http://edition.cnn.com/2005/US/09/03/katrina.world.aid/
