Homeowners now have more time to file claims through the National Flood Insurance Program
Homeowners with properties that have been damaged by floods caused by 2012’s Hurricane Sandy now have more time to submit claims. The Federal Emergency Management Agency has announced that it has extended the claims filing period for victims of Hurricane Sandy by six months. The initial deadline had been set at April 29 this year, but the problems associated with the natural disaster have proven difficult to manage in a timely manner.
NFIP continues to struggle with overwhelming financial problems
FEMA manages the National Flood Insurance Program, through which the majority of U.S. homeowners receive their flood protection. The insurance program has struggled to make ends meet for several years and has been crippled by financial problems that have made it nearly impossible for the program to appropriately manage claims relating to Hurricane Sandy. These financial problems have delayed the issuance of claims payments, leaving many homeowners with properties that have not yet been repaired even after a year after the natural disaster.
Governor Christie seeks extension from the federal government
New Jersey is one of the state’s that was most heavily impacted by Hurricane Sandy. The majority of the damaged caused by the natural disaster came from flooding, which most homeowners did not have protection from. New Jersey Governor Chris Christie has petitioned the federal government to provide homeowners affected by Hurricane Sandy with an extension on the time period when claims can be submitted. Governor Christie noted that the floods caused by Hurricane Sandy caused more damage than had been initially estimated, which caused unforeseeable problems regarding claims.
Some homeowners may be eligible for further extensions on the claims timeframe
The extension provides homeowners affected by the natural disaster with more time to file their claims. Some homeowners may be eligible for further extensions on the timeframe depending on how they were affected by the natural disaster. Many homeowners lacked flood insurance, however, but may still be able to receive some degree of financial support that could help them recover.