Live Insurance News

Nearly a Quarter of New Mexico Homes Are Uninsured, Leaving Thousands Vulnerable

March 25, 2025March 25, 2025 Marc

The Alarming Statistic That Demands Attention It’s a startling revelation that raises pressing concerns for New Mexicans. According to a recent LendingTree report, New Mexico has earned the dubious distinction of being the state with the highest percentage of uninsured homes in the nation. A staggering 23.3% of homes in the state lack any insurance coverage, equating to roughly 133,340 uninsured homes out of the state’s 572,000. To put this into perspective, the national average hovers at 13.6%, making New Mexico’s unenviable position a stark outlier. For homeowners across the…

Why FEMA’s Flood Insurance Program Is Making Headlines Again

March 18, 2025March 17, 2025 G. Turner

Senate Bill to Extend the National Flood Insurance Program Until 2027: A Game Changer for Flood-Plagued Communities Understanding the shifting landscape of federal flood insurance can feel like deciphering a complex puzzle. But for millions of homeowners living in flood-prone areas, clarity may finally be on the horizon. A newly proposed Senate bill seeks to extend the National Flood Insurance Program (NFIP) through December 31, 2026. This legislation would bring an end to the exhausting cycle of short-term extensions that have burdened the program for years. Here’s why this matters…

82% More for Home Insurance? Here’s How Climate Risk Is Hitting Your Wallet

January 23, 2025January 23, 2025 Nordstrom

Rising Insurance Costs in High-Risk Areas Home insurance costs are soaring across the United States, particularly for those living in areas prone to natural disasters. A new report by the U.S. Treasury Department reveals a stark disparity between premiums in high-risk and low-risk zip codes, painting a concerning picture for homeowners grappling with climate-related challenges. The findings highlight an 82% increase in average premiums for residents in disaster-prone areas compared to their counterparts in low-risk regions. But what’s behind this spike in prices, and what does it mean for homeowners?…

Californians should purchase flood insurance, says FEMA

October 27, 2015October 25, 2015 H. Cutner

The Federal Emergency Management Agency says residents of the state need the coverage ahead of El Nino this winter. Officials from FEMA have been urging residents of California to buy flood insurance to cover their homes against damage from rising waters that are very likely in some areas this winter as it is predicted that there will be a strong El Nino. FEMA is advising Californians to purchase these policies regardless of whether they are in the highest risk areas. In fact, the recommendation for purchasing flood insurance has been…

Typhoon Usagi Heads Toward Taiwan and China: AIR Worldwide

September 20, 2013 Guest Author

According to catastrophe modeling firm AIR Worldwide, Typhoon Usagi, a Category 3 storm with maximum sustained winds of 204 km/h (10 minute wind speed as reported by the Japan Meteorological Agency), is expected to strengthen over the coming days and could become the first Category 5 storm of 2013. The storm is currently located several hundred miles off the coasts of both the northern Philippine island of Luzon and Taiwan and is gathering strength as it moves northwest. Usagi, which is called Odette in the Philippines, is expected to deliver…

Flood insurance purchased unnecessarily due to faulty FEMA zone maps

September 17, 2013September 14, 2013 H. Cutner

Homeowners have been purchasing the expensive coverage that they don’t actually required due to mapping errors. The maps that have been issued by the Federal Emergency Management Agency (FEMA) and which are being used by insurers and homeowners in order to decide who is required to purchase flood insurance have been found to be riddled with errors that are now causing individuals who are at no real risk of flooding to have to buy. This coverage is required by many mortgage lenders for properties designated to be at a flooding…

Flood insurance friendly changes made to New Jersey city

March 7, 2013April 30, 2013

Sea Isle City has now been recognized by FEMA reps which have granted it a new Class 6 status. Last week, Federal Emergency Management Agency (FEMA) representatives went to Sea Isle City, which has now received a plaque from the agency to recognize the changes that they have made, as well as their new “Class 6” designation within the Community Rating System (CRS) from the National Flood Insurance Program (NFIP). The city officially received its Class 6 status in October after several initiatives were put into place. Those efforts include…