Let me update you Panic boy. I have negotiated with my Insurance...

Let me update you Panic boy.
I have negotiated with my Insurance Company and had the flood/cyclone damage component removed.
We are now only insured for damage caused by fire, theft, riots, accidental damage etc.
Saved $1000's.
Why did we do this?
Risk management.
Six months ago we survived a 1 in 100 year flood/storm event with no real damage.
So what's the point insuring for a risk that only occurs in 100 years?