Live Insurance News

New FEMA maps may lead to more flood insurance policy sales

November 16, 2016November 14, 2016 G. Turner

A higher number of homeowners may soon find themselves being required to purchase coverage. In Tennessee, many homeowners who have never had to purchase a flood insurance policy before might find that situation changing. The Federal Emergency Management Agency (FEMA) has updated its flood maps and in certain counties, this has meant considerable change. For instance, in Davidson county, Tennessee, over 4,400 properties are newly considered to be in high risk zones. This means that thousands of property owners are also finding themselves in need of a flood insurance policy…

Thousands without Louisiana flood insurance risk financial devastation

August 18, 2016August 17, 2016 Julie Campbell

Uninsured residents may face overwhelming losses as a result of the rising floodwaters in the state. Thousands of people who don’t have Louisiana flood insurance are now risking considerable financial losses. While they aren’t without any assistance, the lack of coverage will mean significant out of pocket expenses. Many of the people whose houses are underwater have never had the slightest problem with flooding before. FEMA and other organizations will be prepared to provide a certain amount of assistance to the uninsured. These organizations are designed to help people such…

West Virginia flood insurance rare despite increased risk

July 15, 2016July 13, 2016 G. Turner

The vast majority of homeowners don’t have coverage against the most expensive type of natural disaster. West Virginia flood insurance has yet to become commonplace in that market. That is problematic when taking into account the fact that flooding is the fastest growing form of natural disaster. Moreover, it is also the most costly form of natural disaster in the state. In the majority of West Virginia counties, not even one percent of households have this insurance coverage. Not even a month after deadly flooding struck a great deal of…

Record number of homeowners purchase flood insurance in California

February 25, 2016February 24, 2016 Nordstrom

FEMA reports that more flood policies have been sold through NFIP this year The number of homeowners in California that have purchased flood insurance coverage has grown significantly, according to the Federal Emergency Management Agency (FEMA). This is due to worry concerning El Nino, which may result in several powerful storms in California. Heavy rainfall in the state may be good news for some, as California has been suffering from a severe drought, but this rainfall comes with the risk of flood disasters in several parts of the state. Worries…

Missouri homeowners are being encouraged to purchase flood insurance coverage

February 8, 2016February 7, 2016 S.Vagus

Consumers and businesses alike are being urged to acquire flood insurance Missouri homeowners, business owners, and renters are being encouraged to purchase flood insurance coverage, even if their properties are not located in risk-prone areas. Floods have caused significant damage in the past due to heavy rainfall and powerful storms. In Missouri, those without flood protection are being urged to acquire coverage in order to adequately protect themselves and their properties. Typically, however, the only place for people to find coverage is through the National Flood Insurance Program. Agencies in…

California homeowners are purchasing flood insurance aggressively

January 14, 2016January 13, 2016 Nordstrom

Worries over El Nino lead to an increase in the acquisition of flood insurance coverage Homeowners in California are beginning to show worry over the coming of El Nino. This year, El Nino is expected to be much stronger than it has ever been, which may place many homeowners in serious danger of having their properties damaged. Much of this damage is likely to come from flooding, which has lead more homeowners to purchase flood insurance coverage. According to the Federal Emergency Management Agency (FEMA), there has been an influx…

California residents are being encouraged to purchase flood insurance

November 13, 2015November 12, 2015 S.Vagus

FEMA urges homeowners to obtain flood protection ahead of El Nino Homeowners in California are being urged by the Federal Emergency Management Agency (FEMA) to purchase flood insurance ahead of the arrival of the El Nino storm system this winter. The National Oceanic and Atmospheric Administration predicts that El Nino will be particularly powerful this year and may strike the Bay Area in as little as two weeks from now. Notably, the majority of homeowners in the state do not have flood insurance coverage, largely due to a lack of…