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…

Allstate Insurance gathers supplies for North Carolina flood victims

October 27, 2016October 24, 2016 Marc

The massive insurer has been working to provide help to uninsured people affected by rising water. Allstate Insurance has been working to assist its North Carolina policyholders who were victims of Hurricane Matthew. That said, they have also been making an effort to assist the members of several communities who are not insured. The insurance company has established its Greenville, NC office as their donation center. Since the storm, Allstate Insurance has been using that location to help to gather supplies for those who need them. They recognize that many…

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…

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…

Flood insurance may no longer required for Tucson homeowners

December 28, 2015December 27, 2015 G. Turner

Certain areas in the downtown portion of the city may be taken off the federal floodplain maps. Certain parts of downtown and midtown Tucson have required flood insurance for the last few years but if certain expected changes take place, removing those zones from the federal floodplain maps, then it won’t be long before homeowners will no longer be required to purchase that coverage. The floodplain maps changes would mean about 600 property owners can decide if they want to keep coverage. While the flood insurance policies would still be…