Tag: flood insurance program

Homeowners insurance premiums in UK continue to fall

G. Turner
UK Insurance regulations

At the same time flooding coverage is maintaining its threat of overwhelming expense. At the beginning of 2012, the premiums for homeowners insurance across the United Kingdom started to fall, and that trend has continued throughout the last three months, says the latest data released by AA. The most recent figures have indicated that the coverage is rapidly becoming cheaper to buy. In fact, the homeowners insurance data released from the period ranging from July through September has shown that the premiums for the coverage fell by almost six percent…

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Legislation may put a halt to rising flood insurance rates in the US

Marc
flood insurance rates

Flood insurance continues to be a worrisome issue Flood insurance has become a hot topic in the U.S. with rates on the rise and FEMA’s revising of flood maps, which could have a costly impact on homeowners throughout the country. As the cost of flood insurance continues to attract attention, finding ways to solve this problem are gaining momentum. New legislation is expected to reach the U.S. Senate next week concerning the state of the country’s flood insurance program and the Biggert-Waters Flood Insurance Reform Act of 2012. Federal law…

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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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Flood insurance costs send homeowners to rally and demonstrate

G. Turner
flood insurance rates

The residents of the coastal regions of the United States are gathering together to speak out against the skyrocketing prices. Following regular and continual announcements that flood insurance rates are significantly rising, particularly in the coastal regions of the country that were damaged by Superstorm Sandy, residents are rallying to speak out against the astronomical prices. Some of the residents are seeing premiums of over $30,000 per year, which is a potentially devastating figure. Flood insurance premiums at that level could easily annihilate some of the shorefront communities, according to…

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Flood insurance costs compel homeowners to raise their homes

G. Turner
Flood homeowners Insurance Rates raising homes

The new maps that have been released by FEMA are placing pressure on policyholders through rising costs. Now that the Federal Emergency Management Agency (FEMA) has released its new maps, many homeowners are finding that their flood insurance costs are high enough to have them pay hundreds of thousands of dollars to raise their homes to bring the premiums down. FEMA has rewritten the Louisiana flooding zone maps, requiring many to raise their homes. The increased risk of water damage has caused FEMA to have to change the rules when…

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Flood insurance program in UK is potentially inadequate

G. Turner
UK Flood homeowners insurance program

According to a recent study, the new plans from the government underestimate the risk and its associated cost. Researchers have been analyzing the data from the newly created flood insurance program from the government of the United Kingdom and are predicting that it will fall short because it has underestimated the number of properties that are at risk of rising waters as a result of climate change. The study proposes that climate change will vastly increase the number of properties at risk of flooding. The research was conducted by a…

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