Tag: Flood Insurance

Hurricane Isaac may cause $1.5 billion in damage

S.Vagus
Hurricane Isaac Homeowners Insurance Industry Damages

Eqecat predicts the havoc caused by Hurricane Isaac Hurricane Isaac may cause more than $1.5 billion in damage as it makes its way through Louisiana, according to Eqecat, a leading catastrophe modeling firm. The hurricane, which made landfall earlier in the week, is expected to makes its way through Louisiana, Mississippi and Alabama. Thus far, the storm has caused a significant amount of damage in and has left more than 644,000 people across several states without power. Eqecat suggests that Hurricane Isaac is just reaching its stride and the storm…

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New Jersey residents pick up more flood insurance in wake of powerful storms

S.Vagus
Flood Insurance

Flood insurance gets a boost after Irene With Hurricane Isaac on a rampage, attention is being drawn to flood insurance. In the past two years, damage caused by powerful storms has been punctuated by the sheer lack of flood insurance coverage. For the uninsured, the damage caused by flood presents a financial burden that consumers will have to bear alone. Those that have suffered loss as a result of flooding seem to be taking the matter seriously and are finally heeding the call to obtain comprehensive flood insurance coverage, according…

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Flood insurance still hasn’t been purchased by some homeowners

Julie Campbell
Flood Insurance

As hurricane season enters its peak period, warnings have been issued to those individuals. The most active part of the Atlantic hurricane season is now underway and homeowners who have not yet purchased flood insurance are being cautioned to do so as soon as possible. They are being warned that homeowners insurance may not cover the flooding from the storms. With a flood insurance policy, the property is covered against storm surges in addition to the torrential rains which can cause significant flooding. The Insurance Information Institute has explained that…

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Flood insurance may become more expensive in the Philippines

Nordstrom
Tropical Strom Haikui

Tropical Strom Haikui exacts terrible toll on Philippines capital A devastating flood has caused havoc in the Philippines in the wake of Tropical Storm Haikui. Heavy rains from the storm, as well as those occurring after the event, have caused nearly of fifth of the bustling metropolis of Manila to be submerged. More than 900,000 residents have been evacuated from the area, seeking refuge outside of the city and on nearby islands that were not affected by the disaster. The main island of Luzon suffered a serious blow to its…

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Louisiana consumers encouraged to examine their flood insurance policies

S.Vagus
New York Homeowners Insurance Rules

Commissioner Donelon advises consumers to make sure they are protected by their insurance policies Tropical Storm Ernesto has formed in the Gulf of Mexico and is expected to cause some damage in Belize and Mexico. Though U.S. states are not expected to see any significant impact from the storm, Louisiana’s Insurance Commissioner, Jim Donelon, is taking the opportunity to encourage consumers to make sure they insurance policies are capable of protecting them. Commissioner Donelon notes that because Ernesto is not expected to hit Louisiana that it is unlikely for future…

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