Tag: floodwater insurance

Flood insurance rate hike opposed by congressmen

G. Turner
flood insurance rates

Several have called for a delay to the increase in the premiums for coverage against floodwater damage. A growing number of congressmen are now working together to help to delay the increases in flood insurance rates for victims of Superstorm Sandy through the introduction of a new bill. The congressmen were working together to introduce the bill to boost the timeline before the increases. So far, the congressmen involved in the introduction of the Flood Victim Premium Relief Act 2013 (H.R. 960) include Congressmen Michael Grimm and Gregory Meeks, who…

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Flood insurance being encouraged in Minnesota

Flood Insurance and reinsurance

Homeowners being encouraged to purchase flood insurance policies Residents through Minnesota are being strongly encouraged to consider purchasing flood insurance for their homes. State officials have experienced the damage wrought by Hurricane Sandy in the East Coast, much of which was caused by heavy flooding in several states, and want to avoid seeing similar problems arise from the lack of adequate flood insurance coverage. The state has experienced some strong storms in recent months, which have highlighted the fact that many people throughout Minnesota lack flood insurance protection. Snowfall could…

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Flood insurance leaves many in Staten Island unimpressed

G. Turner
Flood Insurance payments

Floodwaters are leaving homeowners battling with insurers to try to receive damage payments. Many people in Staten Island said that they knew that their homeowners policies weren’t enough to cover them against the damage that could come from floodwaters, but those who went ahead and purchased flood insurance are finding themselves frustrated as they must still battle to recover their losses. Many homeowners in the region are finding that the payments they are receiving are falling far short of the expense. In one instance of an Adams Avenue homeowner –…

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Flood insurance premiums in Kansas are on the rise

Flood Insurance

Poorly constructed levees cause rise in flood insurance coverage Residents of Topeka, Kansas, could be paying more for their flood insurance policies due to poorly designed levees along the Kansas River, which may also be keeping many businesses from coming to the city. These levees were built between the 1950s and 1960s, when it was considered an adequate construction practice to include wooden parts into the levees themselves. Within a decade of their construction, these wooden parts began to rot due to their exposure to water, thus making the levees…

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Flood insurance woes delay recovery in Long Island

Dan
Flood Insurance

Long Island homeowners have yet to receive payouts from their flood insurance policies Thousands of residents in Long Island, New York, are still waiting on their insurance payouts in the aftermath of Hurricane Sandy. The powerful storm struck the island more than three months ago, but many of its homeowners are still struggling to recover from the damage caused by the devastating storm. Most of these homeowners have been in contact with their insurance providers, but insurers have continued to delay claims payments or outright denying claims due to technicalities.…

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