Tag: FEMA

Insurance news from Superstorm Sandy continues a year later

Julie Campbell
hurricane sandy flood insurance news

Many homeowners are still waiting and fighting with FEMA to be able to receive payouts. Though a year has now passed since Superstorm Sandy started making insurance news headlines, there are 88,750 people among the 155,287 who have filed a claim with an insurer or FEMA, who have been deemed unqualified for payments. There are hundreds of homes that were demolished during the storm that remain off-limits. Today, the insurance news has transformed from the initial devastation that occurred as a result of the storm, into the ongoing battle that…

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Flood insurance premiums spike has strangled home values

H. Cutner
flood insurance

The cost of the coverage has skyrocketed upward by seven times and is holding real estate hostage. Following the rewriting by U.S. Congress of the federal flood insurance program, the monthly premiums that are paid by over 1 million homeowners in the United States are now slated to rise considerably. The result of this increase in cost for covering the homes has had a large impact on the real estate market. Due to the higher cost of flood insurance coverage in certain large areas, which has meant that the price…

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Flood insurance rates are on the rise in the US

S.Vagus
flood insurance bill

Financial burdens increase as flood insurance costs grow Health insurance is not the only kind of coverage that is undergoing significant changes in the U.S. Flood insurance has long been a problematic issue for many homeowners throughout the country, but this type of coverage has begun to attract more attention as homeowners and businesses begin to bear a larger financial burden. Friendly Insurance of Texas suggests that flood insurance rates for homeowners will grow, regardless of whether their properties are located in flood-prone areas or not. Policies through federal program…

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Flood insurance expenses cause real estate woes

H. Cutner
flood insurance rates

New home purchases have been kicked down due to the suddenly higher premiums connected with coverage. Now that the flood insurance zoning maps have been changed by FEMA, even new home buyers who went to the effort to do their due diligence are finding that they are ending up with a losing deal. The risk zones have been changed and this is leading new home purchasers to face far higher expenses than expected. Individuals who have consulted the correct resources and who have found the designation of their homes according…

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Importance of flood insurance highlighted in Colorado

Logan B.
Flood Insurance

Colorado disaster draws attention to flood insurance The importance of flood insurance coverage has again been exemplified in Colorado. The state has fallen victim to heavy rainfall, which has sparked floods in many densely populated communities. Record-breaking rainfall and the steep mountains found throughout the state created a major flooding disaster for residents of Larimer and Boulder counties. Thousands of homeowners were evacuated from some communities, returning to find that their properties were uninhabitable. Moreover, many of these homeowners found that their homes were not protected because of their lack…

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