flood insurance - Articles

Flood Insurance Premiums Still Cresting Despite New Law

#fivemin-widget-blogsmith-image-818558{display:none;} .cke_show_borders #fivemin-widget-blogsmith-image-818558, #postcontentcontainer #fivemin-widget-blogsmith-image-818558{width:570px;height:411px;display:block;} By David B. Caruso JERSEY SHORE, Pa. -- This small, central Pennsylvania river town doesn't have beach... Continue Reading »

5 Features That Can Spike Insurance Costs

Shutterstock By Kelly McMurtie at HomeInsurance.com When shopping for a new home, some of the same features that lure you in could end up costing you extra in insurance premiums. If you're like the many buyers who wait until after going into contract to get insurance quotes on a property, you could be faced with some... Continue Reading »

Congress OKs Limits on Flood-Insurance Premiums

Flickr/The Associated Press WASHINGTON -- Congress is sending President Barack Obama a bill to ease big flood insurance premium increases faced by hundreds of thousands of homeowners and allow below-market rates to be passed on to people buying homes with taxpayer-subsidized policies. The measure breezed through the... Continue Reading »

Putting a House Out of Reach of Flood, Insurance Hikes

#fivemin-widget-blogsmith-image-878825{display:none;} .cke_show_borders #fivemin-widget-blogsmith-image-878825, #postcontentcontainer #fivemin-widget-blogsmith-image-878825{width:570px;height:411px;display:block;} WBAL/AOL On Instead of letting the threat of another Hurricane Sandy-type flood get him down, a... Continue Reading »

Flood Insurance Hikes: Senate Seems Likely to OK a Delay

Shutterstock By Andrew Taylor WASHINGTON -- Flood insurance rate increases for hundreds of thousands of people would be put off under a bill on track to pass the Senate. Its future remains uncertain in the House, where a more modest plan is under consideration. The legislation, which could pass the Senate as early as... Continue Reading »

Bill Could Stem Tide of Flood Insurance Premiums for Some

Shutterstock By Andrew Taylor WASHINGTON -- Homeowners worried that new federal flood maps will send their flood insurance premiums skyrocketing would get some short-term relief under a provision tucked into a massive government-wide funding bill. But other changes to the federal flood insurance program, including higher... Continue Reading »

New Laws Set to Hit Home in 2014

Shutterstock Along with the new year comes another slate of new federal, state and municipal laws, several of which are aimed at improving -- or at least regulating -- what goes on in and around our homes, ranging from switching on a light to lighting up a joint. While the biggest changes are arguably from rules designed... Continue Reading »

Move to Delay Flood-Insurance Changes Falters in Congress

Mel Evans/The Associated Press By Andrew Taylor WASHINGTON -- Efforts to delay implementation of changes in the federal flood insurance program have run into roadblocks on both sides of Capitol Hill. The leaders of the House Financial Services Committee say they are standing behind last year's bipartisan legislation to... Continue Reading »

Proposal Would Delay 'Unaffordable' Flood-Insurance Changes

Shutterstock By Andrew Taylor WASHINGTON -- A bipartisan group of lawmakers this week unveiled legislation that would delay for about four years several changes to the federal government's flood insurance program that are threatening to sock thousands of people with unaffordable premium hikes. The move comes as the... Continue Reading »

How To Get Over Rising Flood Risk, Insurance Rates? Raise the House

AP By Carole Feldman Eileen Benner says elevating her home in Atlantic City, N.J., was a "no-brainer" after it suffered extensive flood damage during Hurricane Sandy. "I would tell anybody who has the money available to go ahead and do it," she says. John Paynter's Long Beach Island, N.J., vacation home now stands 13... Continue Reading »

A Year After Sandy: Jersey Shore Horror Stories Continue

APCars sit on empty lot in Ortley Beach, N.J. where houses once stood. By Daniel Nee Patch.com Nearly a year to the day their homes were destroyed, they came one-by-one to the microphone – still displaced, and begging for someone to help. They were people who thought they had done the right thing. They paid their... Continue Reading »

When a 'Basement' Is Your Home: Sandy Insurance Battles

Julio Cortez/AP Irene Sobolov and her son Joey at the kitchen table of the ground floor living area in Hoboken, N.J., that is being called a "basement" By Irene Sobolov I am completely freaked out when it rains! I hate the sound of it and the thought of any high tide. My entire "public" living area was ruined in... Continue Reading »

Sandy 2013: Storm of Protest Grows Against New Flood Insurance Rates

Steven Senne/Associated Press The wave of flood-insurance sticker shock that's sweeping across the U.S. didn't originate with Hurricane Sandy. But a year after the one of the most devastating storms in U.S. history, homeowners in Sandy-ravaged regions of the East Coast have been among the first to feel its impact -- and... Continue Reading »

Many Hurricane Sandy Victims Getting Shortchanged on Flood Insurance

Alamy By DAVID B. CARUSO NEW YORK -- Many homeowners who got slammed by Superstorm Sandy are finding their flood insurance checks are nowhere near large enough to cover their repairs, and consumer advocates put some of the blame on errors by the multitude of adjusters who were hired in a hurry after the disaster. They... Continue Reading »

New Flood Insurance Rates Stir Storm of Anxiety in Gulf

Tamara Lush/The Associated Press By Tamara Lush TREASURE ISLAND, Fla. -- When Colin and Joyce Elston bought their Florida dream home in May, they were confident that they could afford the three-bedroom, two-bathroom ranch with a pool and a backyard overlooking the Intracoastal Waterway. Now they are not so sure. The... Continue Reading »

New Flood Insurance Rates Leave Homeowners With Sticker Shock

Residents of Valley Stream, N.Y., reportedly face a new headache in the wake of Hurricane Sandy -- a dramatic hike in flood insurance premiums. Though some of the residents have claimed that their Long Island neighborhood has never flooded, FEMA has reclassified the area as a high-risk flood zone. Valley Stream resident... Continue Reading »

Homeowners Insurance: What's Covered, What's Not

Looking to know more about home insurance in the wake of Hurricane Sandy? Republished here is one of AOL Real Estate's best guides to understanding a homeowners policy. Many homeowners are baffled by trying to figure out the maze that is home insurance. Take Stephanie and Eric Jones, who for 15 years paid too much because... Continue Reading »

Hurricane Sandy and 2012's Other Natural Disasters Could Cost Homeowners for Years to Come

Mother Nature certainly made herself known in 2012, unleashing unusually destructive wildfires and storms across the U.S. Hurricane Sandy alone caused up to $50 billion in damage. While the spate of disasters weighs on homeowners in the near-term in the form of reconstruction costs, it may have significant long-term... Continue Reading »

Hurricane Recovery for Homeowners: Surviving and Rebuilding After an Epic Storm

As Hurricane Sandy showed us this week, the widespread devastation wreaked on cities and communities by natural disasters can be significant, costly and debilitating. Homes often suffer severe structural damage caused by wind and flooding, and a lifetime of personal possessions can go missing forever. Hurricane Sandy... Continue Reading »

Hurricane Sandy Preparation: How To Protect Your Home From Damage in a 'Perfect Storm'

As Hurricane Sandy barrels toward the East Coast, it's raising eyebrows among meteorologists who say it actually has the potential to morph into a "perfect storm." In the event that Hurricane Sandy does make landfall, homeowners who could be impacted by the storm should make sure their properties are prepared for severe... Continue Reading »

Hurricane Isaac: Tips for Protecting Your Home Against Damage

As Tropical Storm Isaac threatens to accelerate into a Category 2 hurricane targeting the Gulf Coast, it's a reminder to homeowners in areas exposed to such destructive storms that they should always have measures in place to protect their homes from such severe weather. Analytics firm CoreLogic said Isaac alone threatens... Continue Reading »

Mobile-Home Owners Devastated by Flood Damage

BERLIN, Vt. -- After paying rent for her entire adult life, buying a mobile home was a dream come true for Sandra Gaffney. But 11 months later, that dream was destroyed by floodwaters when the remnants of Hurricane Irene ripped through her mobile home park, flooding her trailer and about 70 others. Gaffney, 64, had... Continue Reading »

Does Your Insurance Cover Hurricanes and Earthquakes?

People up and down the East Coast are thinking about earthquake coverage, after a 5.8 earthquake rattled the Mid Atlantic states on August 23. Bill Howard, an independent insurance agent in Alexandria, Va., just across the Potomac River from Washington, D.C., has been getting calls for the past two days from clients who... Continue Reading »

Home Insurance Rates Rise Even as Property Values Sink

In a year that's been rife with tornadoes and severe thunderstorms, premiums for homeowners insurance are on the rise. And forecasts are calling for a hurricane season that will be more active than usual. Insurers may try to boost rates by as much as 20 percent in areas where storms hit hardest. Don't look for a break... Continue Reading »

Homeowners Insurance 101: What You Need to Know

Q: We are about to settle on our first home, and we don't know the first thing about buying homeowners insurance. How do we get started, and what do we need to know? Kimberly Lankford: Congratulations on buying your first home! Start by getting a price quote from the company that handles your auto insurance -- you... Continue Reading »

Mississippi River Flooding: Man Builds Moat to Save Home

When you can't have your own private island, you can always create your own. Russell, as the video below identifies him, has put more than a good amount of effort into saving his house from the White River flood waters. He's gone so far as to build a moat that seems to have kept his property in pristine condition up to... Continue Reading »

Natural Disasters and Terror Plots: What Home Insurance Covers

The deadly tornadoes and flooding that affected many parts of the South and Midwest in April, the tragic earthquake in Japan, and a renewed sense of concern for national security after Osama bin Laden's death Sunday underscore the importance for property owners to be ready for a worst-case scenario. Last week, insurance... Continue Reading »

Home Insurance for the New Year

When was the last time you took a good look at your home insurance policy? Insurance is one of those things that's easy for homeowners to ignore. Once you sign up for a policy, chances are you write the check for the annual renewal without giving a lot of thought to whether your needs (or your insurer's terms of coverage)... Continue Reading »

Do I Really Need Flood Insurance?

Lou Andrews Smith is a homeowner in Sacramento who decided to let his flood insurance lapse for two reasons. "First, it just cost too much -- I had the standard policy and it's $1,400 a year now," he says. "Second, we've had years of drought and near-average rainfall. I don't live near a river or lake, so I don't feel that... Continue Reading »

Nashville Flood Relief Comes From Affordable Housing Group

The city of Nashville is taking matters into its own hands when it comes to helping residents recover from the devastating floods this past May, offering residents a number of options to obtain additional funding to repair and rebuild. "Because this was a 1,000-year flood event, the waters reached homes well outside the... Continue Reading »

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