Live Insurance News

Homeowners insurance shocking coastal residents

September 30, 2013September 28, 2013 Julie Campbell

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…

Flood insurance rate increases anger homeowners

August 2, 2013July 30, 2013 H. Cutner

Customers in New York are incensed as they prepare for much higher premiums for coverage. Many homeowners in the New York region are now facing a number of different events that are all having a considerable impact on the rates that are being paid for flood insurance coverage, sending premiums skyward. Though many had believed that it could all be blamed on the damage left behind by Hurricane Sandy, this is not the case. The cost of Hurricane (Superstorm) Sandy is certainly playing a role in the amount that is…

Flood insurance now assured for UK homeowners

July 31, 2013July 29, 2013 Julie Campbell

Residents of many villages that thought they may no longer be able to find coverage now have it guaranteed. The people living in a number of villages throughout the United Kingdom, such as those in the area of Worcester and its surrounds, are now breathing a sigh of relief as they hear that their flood insurance will be guaranteed. The coverage was on extremely shaky grounds as the government and insurers in the country negotiated. The negotiations were not looking very promising for some time, but the government and the…

Homeowners insurance customers in Alberta applaud sewer backup coverage

July 8, 2013July 6, 2013 Julie Campbell

Some insurers have had a change of heart and are now covering the damage that they previously had refused. Some homeowners customers finally have a reason to feel good after having suffered from massive flooding in Alberta, Canada, as certain insurers have had a change of heart and are now saying that they will cover damage resulting from backed up sewers. Previously, insurers had stated that they would not provide this coverage as it was not a part of the policies. Claims had even been denied when homeowners insurance customers…

Mayor Bloomberg looks for alternative to flood insurance

June 18, 2013June 15, 2013 Logan B.

Flood insurance may not be adequate safety net for New Yorkers New York is no stranger to hurricanes and flooding disasters, but the recent onslaught of Hurricane Sandy has sparked new action when it comes to the matter of flood insurance and protection for state residents. Hurricane Sandy dealt a terrible toll to the state, causing a significant amount of damage from strong winds and, primarily, flooding. Many homeowners throughout the state that were affected by the storm found that their properties were not protected from flood damage due to…

Flood insurance claims will reach $4 billion in Germany

June 14, 2013June 12, 2013 H. Cutner

The waters of the Danube have now swelled outward to the point that they are headed for Serbia. The latest predictions have suggested that the damage that has occurred due to the rising floodwaters in Germany are likely to bring about flood insurance claims that will reach €3 billion (approximately $4 billion). This, according to a credit rating agency’s forecasts regarding the claims made from the water damage. Though the Elbe river’s levels appear to be stabilizing in the north of Germany, further to the south, the flood insurance issues…

Flood insurance program changes could increase rates

June 1, 2013May 30, 2013 H. Cutner

The national program will be facing some alterations and this could impact the amount paid for coverage. As today is the official start of the hurricane season and homeowners are being cautioned that there are some changes that are on the way for the National Flood Insurance program (NFIP) because it could impact the rates that they are paying. This is especially true in areas of considerably higher risk, such as in the South of Florida. The flood insurance claims that came swamping in following Superstorm Sandy made FEMA have…