Tag: flood damage

Unveiling the Flood Insurance Gap: How Hurricane Helene Exposed a National Shortfall

Logan B.
Flood Insurance

Navigating Flood Insurance: Challenges and Insights Post-Hurricane Helene The recent hurricane season, marked by significant storms like Hurricane Helene, underscores the critical need for effective flood insurance coverage across the United States. As homeowners grapple with rebuilding and recovery, the spotlight turns to the intricacies of flood insurance, its accessibility, and the broader implications for those in high-risk areas. This Year in Floods and Insurance The past year has been a stark reminder of the unpredictable nature of weather patterns and their devastating impact. Key statistics and developments in flood…

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86 percent of homeowners think they have their hurricane preparedness under control

Nordstrom
Hurricane Preparedness - Hurricane Laura as a category 4

Many property owners aren’t taking into consideration the additional challenges from COVID-19. Even after the devastation left behind by the major storms last week, most homeowners feel they have made adequate hurricane preparedness efforts, according to a recent survey. When Hurricane Laura reached the US Gulf Coast, it struck as a highly powerful category 4. According to the research conducted by ValuePenguin, most homeowners – 86 percent – feel that the hurricane preparedness steps they have taken are enough. However, thousands of people who were in the path of last…

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Hurricane Preparedness Week encourages homeowners to check their insurance

Logan B.
Hurricane Preparedness Week - big waves from hurricane

The industry is reminding property owners to review their coverage and update if necessary. The insurance industry used this week, Hurricane Preparedness Week, to remind homeowners that storm season is on its way. This makes the week the perfect opportunity to go over insurance policies and make changes to prepare properties for what could potentially be an active year. The insurance industry has released lists of helpful instructions to keep customers properly covered. Hurricane Preparedness Week arrives just before the official season begins. That way, homeowners have time to look…

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House Republicans pass flood insurance bill to overhaul NFIP

Nordstrom
flood insurance bill

Bipartisan opposition was overcome and the bill was passed to continue helping policyholders at risk of flooding. A controversial flood insurance bill has been passed in the House as Republicans overcame bipartisan opposition. This legislation will both reauthorize and overhaul the National Flood Insurance Program (NFIP). The program is currently facing considerable strain following a highly active hurricane season. NFIP was forced to pay billions of dollars to policyholders this year after several hurricanes made landfall in the United States. The House passed the flood insurance bill in a vote…

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Allstate Insurance gathers supplies for North Carolina flood victims

Marc
cost of hurricanes to insurance

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…

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