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…
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FEMA tours North Dakota to promote flood insurance awareness
Flood insurance continues to be a major issue for consumers and insurers alike. The outlook for the National Flood Insurance Program is bleak as federal legislators continue, without success, to fix the debt-riddled program. In an effort to raise awareness of the issue, FEMA, along with officials from the federal government, has embarked on a tour through one of the states most at risk of flooding events: North Dakota. The tour began in North Dakota on January 23 and will come to an end on January 26. During the first…
Read MoreSome Lafayette parish residents will see a lower flood insurance rate
The Federal Emergency Management Agency has announced that some of the residents of Lafayette Parish and its incorporated parts will see a drop in their flood insurance premiums by up to 10 percent. The reason for the savings is that the Lafayette Consolidated Government is now taking an active role in the Community Rating System for the National Flood Insurance Program. This means that business and homeowners, as well as renters in Lafayette city and the unincorporated areas of Lafayette Parish may qualify for a decrease of between five and…
Read MoreFEMA to update flood maps for Florida by 2012 hurricane season
FEMA has begun updated its flood maps for the state of Florida and the new maps will be put into effect before the 2012 hurricane season. The maps determine what properties are at risk of flooding in the event of a natural disaster or severe storm. Insurers rely on these maps and the risk they place on certain regions to price insurance coverage. Typically, areas that are classified as high risk are required to have some form of flood insurance protection. Collier County will have the most drastic change next…
Read MoreNational Flood Insurance Program wins extension from Senate
The National Flood Insurance Program seems to have avoided expiration again, as federal legislators passed a new short-term funding bill that would keep the program afloat until December 16 of this year. The program has been burdened by crippling debt since 2005’s Hurricane Katrina. The majority of people in the U.S. have flood insurance provided by the program, which has put pressure on lawmakers to fix the program before these people lose their insurance coverage. Fixing the program, however, seems to be easier said than done. NFIP was scheduled to…
Read MoreUnderstanding how flood insurance protects your home and belongings
Flood insurance is a form of protection that provides coverage for a home and the possessions it contains, in case they should ever be damaged or lost as a result of water rising from an outside source. Though standard homeowners insurance will usually protect against flooding due to a broken pipe, for example, it would not cover damage from water that flowed into the home from a rising river, creek or even rain. While many homes are not located within areas that are recognized as having a high flood risk, those…
Read MoreCongress approves short-term National Flood Insurance Program fix
In Washington D.C., Congress has given the nod to an extension of the National Flood Insurance Program (NFIP), to maintain it until November 18, 2011, after having failed to pass a reforming bill for the program. It is hoped that this extension will provide enough time for a reported deal to close, which is supported by both parties. What this means to homeowners in any of the 20,000 communities that take part in the NFIP, is that if you will be purchasing a home or if you are attempting to…
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