Tag: why flood insurance

Flood insurance is an uncommon solution to a common problem in the United States

Note From The Editor
Insurance News Editorial

This Week’s Trending Topic: Flood insurance in the US is often misunderstood In the U.S., flood insurance is often a misunderstood issue. Many homeowners throughout the country live in regions that can be considered to be at high risk of flooding, either due to heavy rainfall or because of the region’s exposure to hurricanes. While homeowners in these regions of the country are exposed to flooding disasters, very few people actually have flood insurance protection. This could be due to a simple misunderstanding that most people have regarding their homeowners…

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Missouri insurance agents vent frustrations over FEMA’s handling of flood insurance

S.Vagus

In the states struggling to mitigate the damage caused by the flooding Missouri River, insurance agents are railing against FEMA. Agents claim that federal officials are at fault for causing widespread confusion amongst property owners by pressuring them to purchase flood insurance. The main issue is that these hastily solicited policies may not provide the coverage necessary to protect homeowners from the flooding river. Furthermore, several insurance companies in the affected area say that federal officials have been pressuring insurance agents to sell policies that specifically exclude any damage caused…

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Floods this summer could break records

Marc

Forecasters have predicted that this summer could be accompanied by the worst flooding the United States has seen in its history, as rivers continue to run higher than flood levels and the soil is still saturated from the spring’s rising waters.  The last record-breaking floods were in 1993, when $25 billion in damages occurred between the months of April and August within nine states.  According to the National Weather Service, this year, the water levels haven’t receded much and the soil remains soaked so that it would take only a…

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