Homeowners insurance heads skywards for the Jersey Shore due to Sandy

homeowners insurance policy multiple claims

Half of a year has passed since the Superstorm struck and now rates are being impacted. As homeowners insurance policyholders on the Jersey Shore start to receive their renewal notices on their policies – six months after the storm destroyed the region – many consumers are noticing that their premiums have skyrocketed when compared to what they were paying before the storm struck. Residents of the Jersey Shore are still trying to rebuild from the damages left behind by the storm. After facing considerable out of pocket costs from the…

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Homeowners insurance will skyrocket for New Jersey residents who don’t build higher

Flood homeowners Insurance Rates raising homes

Sandy victims are required to rebuild their homes higher than they were before or their costs will soar. Last Thursday, new federal flood maps were issued that will provide the guidelines for rebuilding that will occur in New Jersey following the damage that Sandy left behind and the implications that choices will have on homeowners insurance. They have made it clear that many people will need to build higher in order to avoid paying more. The new regulations will mean that residents of flood zones will need to choose to…

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