Tag: new jersey homeowners insurance

Homeowners insurance may spike in New Jersey

Logan B.
New Jersey Homeonwers Insurance Rates

New FEMA flood maps may have a drastic impact on homeowners insurance rates The U.S. Federal Emergency Management Agency (FEMA) is revising its flood maps for 2013, and this may have a drastic impact on homeowners insurance, especially in the East Coast, where many homeowners are still struggling to recover from the impact of Hurricane Sandy. In New Jersey, Governor Chris Christie, who has levied harsh criticism against FEMA for its handling of Hurricane Sandy, is now warning state residents that they could see their homeowners insurance rates spike in…

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Flood insurance concerns to get more attention in New Jersey

Flood Insurance

New Jersey officials continue to wrestle with problems concerning flood insurance Despite the best efforts of lawmakers, New Jersey residents continue to experience difficulties with their insurance coverage in the wake of Hurricane Sandy. Though Sandy struck the state in late October 2012, the storm’s effects continue to be felt to this day. The storm caused modest wind damage, but most of the destruction associated with Hurricane Sandy comes from the widespread flooding it caused. As such, many consumers have been experiencing problems with their flood insurance coverage, with claims…

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Homeowners insurance bill in New Jersey requires policy rewrites

H. Cutner
New Jersey homeowners insurance law

Following Superstorm Sandy, a new proposal would mean that coverage would be easier to understand. Assemblyman Paul Moriarty (D-4, Washington Township) is the primary sponsor of a New Jersey bill that would require homeowners insurance companies to lose the industry jargon in the wording of their policies, in favor of a “plain English” alternative. This would allow the details of the coverage to be easier for policyholders to understand. The bill, A3642, requires that homeowners insurance policies that are renewed, initially issued, or delivered within the state of New Jersey…

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Homeowners insurance will skyrocket for New Jersey residents who don’t build higher

Flood homeowners Insurance Rates raising homes

Sandy victims are required to rebuild their homes higher than they were before or their costs will soar. Last Thursday, new federal flood maps were issued that will provide the guidelines for rebuilding that will occur in New Jersey following the damage that Sandy left behind and the implications that choices will have on homeowners insurance. They have made it clear that many people will need to build higher in order to avoid paying more. The new regulations will mean that residents of flood zones will need to choose to…

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Hurricane Sandy incites major confusion in New Jersey

S.Vagus
Flood Insurance Hurricane Sandy Jersey Shore

Hurricane Sandy causes widespread confusion The impact of Hurricane Sandy continues to be felt despite the storm having made landfall and dissipating several months ago. A New Jersey State Assembly committee met late last week to address yet another issue that has arisen in the wake of Hurricane Sandy. Over the past few months, lawmakers and citizens alike have been working to overcome problems with insurance coverage, claims, and the damage caused by widespread flooding. Now, however, state officials must combat the growing confusion that Hurricane Sandy has generated, which…

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