Live Insurance News

Mudslide insurance likely won’t cover Washington victims’ homes

March 27, 2014March 25, 2014 Julie Campbell

The majority of homeowners policies do not include protection for this type of disaster. The already devastating recent news for homeowners who have suffered tremendous losses – or even who have lost everything – in the deadly Washington disaster, could become much worse as most likely do not have mudslide insurance coverage to protect them. The Snohomish County community will likely discover that this bad news is only going to get worse. Unfortunately, mudslide insurance is not included in standard homeowners and business policies. Additional coverage above and beyond the…

Flood insurance rates still rising, regardless of law reforms

March 26, 2014March 24, 2014 G. Turner

Even with the overhaul of the federal program, the prices homeowners will pay will still be higher. Millions of homeowners across the country were breathing a sigh of relief when the flood insurance law was reformed in order to bring down some of the skyrocketing rates for that coverage, but many continue to face much higher premiums than they have seen in previous years. The rising cost of this coverage may not be as high for some homeowners as expected, but it’s still going up. The subsidies through the National…

Flood insurance may be set for reform in Alabama

March 25, 2014March 25, 2014 Logan B.

New legislation seeks to address problems with insurance coverage New legislation in Alabama could have a major impact on flood insurance throughout the state. Currently, homeowners throughout the state must rely on the National Flood Insurance Program in order to find the protection that they need. The program, however, is riddled with debt and has come under fire for its inability to pay claims effectively. Moreover, coverage through the federal program is becoming significantly more effective for many people throughout the country. The problems with the federal program have lead…

Flood insurance bill is now a law with Obama’s signature

March 24, 2014March 24, 2014 G. Turner

The President has now signed the long awaited and fought for legislation to help to keep coverage affordable. President Barack Obama officially added his signature to the hard fought legislation, turning the flood insurance bill into a law and making certain that the increases in premiums would not rise by any more than 18 percent per year. This was not legislation that came about easily or without considerable controversy. Senator Mary Landrieu (D – Louisiana), was among the bill’s most vocal and adamant supporters. She received a call early in…

Florida may soon be home to a private flood insurance market

March 20, 2014March 18, 2014 S.Vagus

Legislation aims to make flood protection a private market rather than something handled by the federal government Homeowners in Florida are facing rising flood insurance rates that could threaten their financial stability, but state lawmakers may be able to provide some relief through new legislation. The legislation would create a competitive, private insurance market throughout the state. This would take flood insurance out of the jurisdiction of the federal government, allowing private insurers in Florida to provide this coverage to homeowners. State lawmakers believe that this will be beneficial to…