All About Flood Insurance – What you need to know

Flood Insurance and rain

Floods occur in every state in the United States. Recent flooding in Colorado resulted in multiple fatalities and property damage estimated at more than two billion dollars. Amidst the tragedy there are reports that 10 to 25 percent of Colorado homes have separate flood insurance policies. Six percent of the 77,000 detached homes in oulder County had flood insurance, only 2.3 percent of El Paso County single-family homes (170,000) had insurance for floods, and only 1.5 percent of Larimer County’s 90,000 homes were covered against floods. Flood insurance is an…

Read More

Flood insurance is an uncommon solution to a common problem in the United States

This Week’s Trending Topic: Flood insurance in the US is often misunderstood In the U.S., flood insurance is often a misunderstood issue. Many homeowners throughout the country live in regions that can be considered to be at high risk of flooding, either due to heavy rainfall or because of the region’s exposure to hurricanes. While homeowners in these regions of the country are exposed to flooding disasters, very few people actually have flood insurance protection. This could be due to a simple misunderstanding that most people have regarding their homeowners…

Read More

MEMA releases flood insurance information for consumers

New York Homeowners Insurance Rules

MEMA information could help consumers understand their policies and file claims The Mississippi Emergency Management Agency (MEMA) has released information that aims to help the victims of flood file flood insurance claims. Mississippi residents that have flood insurance receive their coverage through the National Flood Insurance Program (NFIP). The majority of the state’s homeowners, however, do not have coverage that protects them from the damage caused by floods. Yet, many of these homeowners believe they are adequately protected by the coverage they receive through the state’s wind pool policies. MEMA…

Read More

Oklahoma gap insurance to fill the additional need for flood coverage

According to a news release from the Federal Emergency Management Agency (FEMA) at the U.S. Department of Homeland Security, despite the fact that flooding is the most common form of natural disaster in the country, statistics continue to indicate that individuals are ignoring this risk and are failing to purchase the gap insurance required to cover them against this circumstance. There are approximately 1.7 million households in the state of Oklahoma, and fewer than 34,000 (approximately 2 percent) of them are covered in the event of flooding, from a policy…

Read More

Mississippi could lose its access to flood insurance because of state law

Residents of Mississippi are in danger of losing their flood insurance if state legislators do not take action on a particular law. The state was put on notice by the Federal Emergency Management Agency late last week because one of the state’s laws makes hunting and fishing camps exempt from the building codes that govern the flood prone areas of the state. FEMA claims that if the issue is not resolved by May 5th, those receiving coverage through the National Flood Insurance Program will see their policies canceled. According to…

Read More

Maine insurance regulators urging consumers to purchase flood insurance before the stormy season begins

The Maine Floodplain Management Program, a state-run initiative that works in tandem with the National Flood Insurance Program, is urging state residents to purchase flood insurance before the stormy season gains momentum. According to state regulators, floods in Maine are often the result of coastal storms that happen near the beginning of spring and during the hurricane season later in the year. Regulators note that while flood insurance is often very affordable, few consumers have policies because they do not think that such disasters will happen to them. March and…

Read More

Army Corps of Engineers warns that last year’s floods could spur yet more damage along the Mississippi River this year

Last year’s record breaking floods along the Mississippi River could put a significant amount of people in danger of similar events this year, according to the Army Corps of Engineers. The events of last year have dealt a significant amount of damage to protective structures that block floods, such as levees and overflow channels. The communities that were affected by these events last year will be notified of the Army Corps of Engineers concerns in February. The Corps has identified several places where floods could be a major problem this…

Read More