Live Insurance News

Flood insurance continues to cause problems for homeowners and realtors

December 30, 2013December 28, 2013 S.Vagus

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…

Flood insurance rates battle now includes another state

December 3, 2013November 30, 2013 H. Cutner

Mississippi has been trying to combat the federal plans to boost the price of coverage. The intentions to increase federal flood insurance rates is currently being challenged by Mississippi, and that state is far from being alone as Louisiana, its neighbor, has now joined the others in this legal action to try to keep the cost at an affordable level. The original lawsuit was filed by Mississippi in an attempt to stop increases at the start of October. The National Flood Insurance Program (NFIP) had announced that premiums for most…

Flood insurance prices may ease for Tampa Bay homeowners

November 27, 2013November 25, 2013 H. Cutner

Residents of the area had been expected to pay up to ten times more for coverage, but this may not be the case. Homeowners living in the Tampa Bay area who were feeling increasing concern about flood insurance prices that could soon be skyrocketing may now be breathing a great deal easier with the chance that relief may be on its way. Over the last few months, the cost of this type of coverage was sent skyward in the region. Homeowners found themselves facing flood insurance bills that they couldn’t…

Flood insurance rates spike in California

November 21, 2013November 19, 2013 S.Vagus

California homeowners may soon contend with higher flood insurance premiums A sudden increase of flood insurance rates in the U.S. may soon force people from their homes. Rising flood insurance costs have become quite common in states like Florida and Louisiana, both of which experience a high degree of exposure to natural disasters. Homeowners in the San Francisco Bay Area may be feeling a great deal of financial pressure from the latest hike in flood insurance rates, however. For many, this coverage may soon become too costly to manage. Rates…

Flood insurance costs could be stifled by new legislation

November 1, 2013October 29, 2013 S.Vagus

Relief for rising flood insurance rates could come from Louisiana Homeowners in Louisiana may find some relief from rising flood insurance rates thanks to new legislation that has been introduced to the state. This legislation seeks to reform flood insurance in Louisiana, putting an end to the increasingly costly problem that this type of coverage has caused homeowners and businesses alike for several years. Rising rates are putting homeowners under inordinate financial strain and stifling the growth of the housing market. Federal program continues to grapple with financial problems State…