Live Insurance News

Flood insurance rates are on the rise in the US

October 25, 2013October 22, 2013 S.Vagus

Financial burdens increase as flood insurance costs grow Health insurance is not the only kind of coverage that is undergoing significant changes in the U.S. Flood insurance has long been a problematic issue for many homeowners throughout the country, but this type of coverage has begun to attract more attention as homeowners and businesses begin to bear a larger financial burden. Friendly Insurance of Texas suggests that flood insurance rates for homeowners will grow, regardless of whether their properties are located in flood-prone areas or not. Policies through federal program…

Flood insurance expenses cause real estate woes

October 15, 2013October 12, 2013 H. Cutner

New home purchases have been kicked down due to the suddenly higher premiums connected with coverage. Now that the flood insurance zoning maps have been changed by FEMA, even new home buyers who went to the effort to do their due diligence are finding that they are ending up with a losing deal. The risk zones have been changed and this is leading new home purchasers to face far higher expenses than expected. Individuals who have consulted the correct resources and who have found the designation of their homes according…

Importance of flood insurance highlighted in Colorado

September 24, 2013September 21, 2013 Logan B.

Colorado disaster draws attention to flood insurance The importance of flood insurance coverage has again been exemplified in Colorado. The state has fallen victim to heavy rainfall, which has sparked floods in many densely populated communities. Record-breaking rainfall and the steep mountains found throughout the state created a major flooding disaster for residents of Larimer and Boulder counties. Thousands of homeowners were evacuated from some communities, returning to find that their properties were uninhabitable. Moreover, many of these homeowners found that their homes were not protected because of their lack…

Flash Flooding Causes Serious Damage in Northern Colorado: AIR Worldwide

September 13, 2013 Guest Author

According to catastrophe modeling firm AIR Worldwide, three days of intense rainfall in many areas of Colorado has resulted in severe, widespread flooding and collapsed homes. The greatest threat is to cities along the Front Range, including the city of Boulder and parts of the Denver metropolitan area. Essentially all water bodies in these areas including ditches, canals, and streams are at capacity with many of them at flood levels. Several roads have been washed away and highways blocked due to landslides, hampering rescue attempts. “Severe flooding began during the…

Flood insurance proves elusive among US homeowners

September 12, 2013September 10, 2013 Marc

Survey shows flood insurance is relatively unpopular A new survey from Consumer Reports highlights the lack of flood insurance coverage among many U.S. homeowners. Floods are one of the most common and financially disastrous catastrophes in the country, but many people opt not to cover their homes and other properties because of the concept that they are immune to such disasters. The survey found that one out of three homes damaged by floods during 2012’s Hurricane Sandy were not protected by flood insurance coverage of any kind. Conventional homeowners insurance…