Tag: american flood insurance

Flood insurance continues to cause problems for homeowners and realtors

S.Vagus
flood insurance rates

Insurance woes continue to mount for many Flood insurance has become a controversial issue in the U.S. The problems the country is facing in terms of insurance coverage are linked heavily to the National Flood Insurance Program. The majority of homeowners throughout the country currently receive their flood protection from the federal program, but the program itself has been crippled by financial calamities that emerged over the past several years. FEMA, which manages the flood program, has been working to resolve these issues while also redrawing its flood maps, and…

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Flood insurance affordability demanded in Hurricane Sandy report

Julie Campbell
Hurricane Sandy Damage flood Insurance surcharge

The task force that has been assigned to the Superstorm in the United States has released a report. According to a report that was just released by the Hurricane Sandy Rebuilding Task Force, there are 69 recommended actions that coastal areas should take as a lesson from the superstorm, including making flood insurance a more affordable form of coverage for home and property owners. The American task force identified these various recommendations to help to prevent the recurrence of similar devastation. At the start of this year, the Disaster Relief…

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Rising flood insurance premiums spark protests among homeowners

Marc
Flood Insurance - FEMA

Flood insurance rates prove controversial for FEMA Rising flood insurance costs may soon become a problem for the U.S. federal government. The Federal Emergency Management Agency (FEMA) has been working to revise the flood maps that determine what regions of the country can be considered “high risk” areas. According to FEMA, such areas are prone to floods that can cause significant damage to properties and are under considerable risk to falling victim to floods that are caused by storms. Revisions to FEMA’s flood maps have many implications, the most concerning…

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Flood insurance legislation filed by U.S. Senator

H. Cutner
flood insurance rates

The goal is to delay the rate hikes for the coverage to help businesses and residents prepare. This week, U.S. Senator Mary Landrieu (D-Louisiana) has filed legislation with the purpose of delaying increases in flood insurance premiums in order to help to provide homeowners and businesses to deal with the current repairs from previous damage and then prepare for the higher costs that they will be facing to continue their coverage. Officials feel that the cost of these policies could skyrocket in many areas before the end of the year.…

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