national flood insurance program Archives

Why Every Homebuyer Should Demand Flood History Transparency

January 16, 2025January 15, 2025 H. Cutner

The Hidden Risks of Buying a Flood-Prone Home For millions of Americans, purchasing a home is the single largest financial decision they will ever make. Yet many buyers face an alarming obstacle when it comes to flood risk. More than one-third of U.S. states fail to require any disclosure of a property’s past flood damage or risk during a real estate transaction. This leaves countless buyers unaware they may be stepping into a financial nightmare. Flooding is the most common and costly natural disaster in the U.S., and a home…

Homeowner’s Flood Insurance Claim Rejected Over Previous Owner’s Neglect

September 20, 2024 Logan B.

Tropical Storm Debby Leaves Homeowner with Denied Claim and $100,000 in Damages In early August, Tropical Storm Debby unleashed its fury on Pinellas County, Florida, submerging streets and inundating homes in its path. Among the affected residents was Danielle Jensen, who believed her home was safeguarded under a flood insurance policy purchased through the National Flood Insurance Program (NFIP). Despite her careful planning, Jensen’s $8,600 investment in protection crumbled when her insurance claim was denied, leaving her family to face nearly $100,000 in damages. The denial came as a shock…

Is your flood insurance ready for Atlantic Hurricane Season’s start tomorrow?

May 31, 2024May 30, 2024 John Bowers

The official beginning is June 1 and experts are predicting that it will be an active one With the start of Atlantic Hurricane Season tomorrow, preparedness experts are reminding consumers who have waited until the last minute about the importance of flood insurance. FEMA is among those urging property owners to buy coverage Hurricanes can cause damage from many different issues, ranging from high winds to flooding, but the latter requires additional flood insurance coverage as rising overland waters are not typically covered by a standard home policy. Many people…

California Insurance Commissioner Lara warns consumers of flood insurance fraud

February 7, 2024February 6, 2024 G. Turner

As San Diego County started its clean-up efforts, residents are warned of dubious companies preying on victims. Flood insurance claims are up in San Diego, where hundreds of properties and vehicles were damaged and destroyed by recent flooding, but California Insurance Commissioner Ricardo Lara has placed his department on alert for fraud and other illegal activities targeting the victims of the flooding. The Department is already receiving reports that consumers claim public adjusters have been contacting them. Immediately after the recent floods, some home and business owners say they were…

Flood insurance rate increases will affect 81 percent of policyholders

April 29, 2022April 28, 2022 Logan B.

FEMA’s NFIP overhaul was intended to increase premiums primarily for larger, high-value homes. A year ago, when the Federal Emergency Management Agency overhauled the National Flood Insurance Program it expected that larger, high-value homes would see most of the rate increases. It anticipated that about 90 percent of policyholders would either keep their existing rates or would even experience a reduction in their premiums. This month, when the changes went into effect, the situation proved to be considerably different. Now that the changes in the National Flood Insurance Program (NFIP)…