Flood insurance woes continues to plague New Jersey

flood insurance

New Jersey homeowners continue to fight for recovery two years after Hurricane Sandy Nearly two years after Hurricane Sandy struck the eastern U.S., the storm is still causing problems for homeowners. The hurricane first formed on October 22 and made landfall in the U.S. shortly thereafter. The storm caused an estimated $68 billion in damage, and many homeowners are still recovering from the disaster and ongoing struggles with flood insurance are compounding the issue. A joint insurance fund, which is paid for by 400 small towns throughout New Jersey, has…

Read More

New Jersey residents continue to struggle with flood insurance

Flood Insurance Hurricane Sandy Jersey Shore

Close to 1000 homeowners file lawsuits against insurance providers Nearly 1,000 New Jersey residents that fell victim to 2012’s Hurricane Sandy have filed lawsuits against their flood insurance providers. In the U.S., flood protection is handled through the National Flood Insurance Program. The federal program exists as the only place for homeowners to find flood protection in the country, but the program itself is not responsible for the creation of the policies that it offers. Private insurers may not be offering flood protection outside of the federal program, but they…

Read More

Homeowners insurance shocking coastal residents

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…

Read More

Flood insurance revisions may be more lax for New Jersey

new jersey flood insurance

New Jersey facing down flood insurance changes coming from FEMA Earlier this month, the Federal Emergency Management Agency announced revisions to its flood maps that could have severe implications for many properties in New Jersey. The revisions were spurred by the impact of Hurricane Sandy, which caused widespread flooding in New Jersey, particularly in areas that had not been prone to floods in previous years. The flood maps are meant to assess the risks of certain properties and are often used to dictate the price of flood insurance coverage. FEMA’s…

Read More

Workshops help New Jersey residents cut through red tape of flood insurance

Flood Insurance

Flood insurance bureaucracy delays recovery for many New Jersey residents that fell victim to last year’s Hurricane Sandy have been struggling to overcome the seemingly insurmountable challenges that continue to delay their recovery process. In the wake of the powerful storm, which hit New Jersey in late October, 2012, many homeowners found that their properties had been destroyed. In some cases, consumers were able to rely on their homeowners insurance and flood insurance policies in order to cover the costs of the damage done by Hurricane Sandy. Many others, however,…

Read More