Buzzword: Wind versus water
Life is hard enough without having to decipher everything. Each week, Marketplace Money brings you a word or a phrase that has bubbled to the top of the news. For instance, wind versus water. You hear it, you see it, but do you really know it?
Gulf Coasters seeking shelter from a financial storm bring us this week's Marketplace Money Buzzword: Wind versus water.
The phrase blew into public discussion after Hurricane Katrina.
Insurance companies told thousands of people that their property damage wasn't caused by hurricane . . .
Winds.
But by flood . . .
Water.
This week a Mississippi judge decided against one family. He said their insurance policy clearly didn't cover flood damage.
The family was seeking $150,000. They were awarded $1,200 for wind damage.
