Tag: home flood insurance

Coastal home insurance costs rising in Massachusetts

H. Cutner
coastal home insurance

This situation is starting to cause concern for officials in the state, where sea levels are a growing problem. Property owners along the seaside and riverside in the state are facing a double level of concern regarding the rising sea levels and the cost of coastal home insurance that is going along with it. The damage caused by Superstorm Sandy is being used as an example of what Massachusetts could one day see. Although the majority of the damage along the coastline was to New York City and New Jersey,…

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Oregon flood insurance premiums still charged to the wrong homeowners

G. Turner
Flood Insurance - FEMA

The challenges that FEMA is facing within the state are clearly on the rise. Hundreds of homeowners throughout the state are finding themselves wrongly being required to pay Oregon flood insurance as they are caught up in the flaws of a system in which lenders automatically include properties located close to flooding zones in with those that are actually located in high risk areas. This means that properties nearby – but outside of – flooding zones, are deemed high risk by lenders. This is problematic for those homeowners as it…

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UK flood insurance leads to confrontation with Prime Minister

H. Cutner
UK cyber Insurance industry News united kingdom

David Cameron was confronted by a woman who accused him of a “betrayal” regarding the delay in the coverage program. United Kingdom Prime Minister David Cameron visited Yalding, Kent, only to be confronted by a woman named Ericka Olivares, who accused him and the Government of betraying the flooding victims through the delays in the UK flood insurance program when he had promised that premiums would be kept down. Olivares urged Cameron to push a deal forward that would make this coverage affordable. She pressured him to bring a deal…

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Homeowners insurance rates likely to spike in Alberta

S.Vagus
homeowners insurance rates

Alberta floods cause spike in insurance rates Homeowners in Alberta, Canada, are preparing to see higher insurance rates as insurers begin to feel the financial impact caused by recent floods. The Insurance Bureau of Canada notes that insurers have been weighing the impact of floods that struck Alberta in June of this year and many have found the need to raise rates in order to mitigate the financial blow of the disaster. Those that had fallen victim to flooding will likely see their homeowners insurance rates spike in the coming…

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Homeowners insurance shocking coastal residents

Julie Campbell
Homeowners insurance New Jersey

Over one in three flood policyholders in New Jersey will be impacted by changes taking effect tomorrow. A huge number of residents of New Jersey, including homeowners insurance customers who are still recovering from the damage left behind from Hurricane Sandy, are going to be impacted by the massive changes to the federal flood coverage program that will be going into effect tomorrow. It is predicted that one in every three flood policyholders in New Jersey will feel these changes. Although the primary home insurance policies, themselves, won’t be directly…

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