Tag: rising water insurance

Polar vortex highlights the need for flood insurance

S.Vagus
flood insurance storm damage

Warming temperatures could spark floods as snow melts throughout the US Winter is coming to an end and that means that the problems caused by the polar vortex may soon spark new disasters. The polar vortex has sparked many problems throughout the U.S., dealing damage to properties, vehicles, and the country’s infrastructure. With winter coming to a close, some of the issues involving the polar vortex may become easier to resolve. Warming temperatures means that the snow that the climatic phenomenon has brought to the country is beginning to melt.…

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Lawmakers begin to push for flood insurance reform

Logan B.
Flood Insurance News

Insurance rates continue to skyrocket in the US Flood insurance rates are on the rise throughout the U.S. and Congress has been feeling the pressure from homeowners and consumer advocacy groups concerning their inaction on the matter. The reason rates are growing has to do with a law passed in 2012 meant to fix the National Flood Insurance Program (NFIP). The federal program is typically the only place where homeowners can acquire flood protection. The law passed in 2012 is meant to rectify the financial problems that have crippled the…

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UK flood insurance leads to confrontation with Prime Minister

H. Cutner
UK cyber Insurance industry News united kingdom

David Cameron was confronted by a woman who accused him of a “betrayal” regarding the delay in the coverage program. United Kingdom Prime Minister David Cameron visited Yalding, Kent, only to be confronted by a woman named Ericka Olivares, who accused him and the Government of betraying the flooding victims through the delays in the UK flood insurance program when he had promised that premiums would be kept down. Olivares urged Cameron to push a deal forward that would make this coverage affordable. She pressured him to bring a deal…

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Flood insurance continues to cause problems for homeowners and realtors

S.Vagus
flood insurance rates

Insurance woes continue to mount for many Flood insurance has become a controversial issue in the U.S. The problems the country is facing in terms of insurance coverage are linked heavily to the National Flood Insurance Program. The majority of homeowners throughout the country currently receive their flood protection from the federal program, but the program itself has been crippled by financial calamities that emerged over the past several years. FEMA, which manages the flood program, has been working to resolve these issues while also redrawing its flood maps, and…

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Flood insurance costs send homeowners to rally and demonstrate

G. Turner
flood insurance rates

The residents of the coastal regions of the United States are gathering together to speak out against the skyrocketing prices. Following regular and continual announcements that flood insurance rates are significantly rising, particularly in the coastal regions of the country that were damaged by Superstorm Sandy, residents are rallying to speak out against the astronomical prices. Some of the residents are seeing premiums of over $30,000 per year, which is a potentially devastating figure. Flood insurance premiums at that level could easily annihilate some of the shorefront communities, according to…

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Flood insurance costs compel homeowners to raise their homes

G. Turner
Flood homeowners Insurance Rates raising homes

The new maps that have been released by FEMA are placing pressure on policyholders through rising costs. Now that the Federal Emergency Management Agency (FEMA) has released its new maps, many homeowners are finding that their flood insurance costs are high enough to have them pay hundreds of thousands of dollars to raise their homes to bring the premiums down. FEMA has rewritten the Louisiana flooding zone maps, requiring many to raise their homes. The increased risk of water damage has caused FEMA to have to change the rules when…

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Homeowners band together to protest flood insurance rate hikes

Logan B.
flood insurance rates

Flood insurance rates set to soar in the US Hundreds of thousands of homeowners throughout the U.S. are bracing for the impact of higher flood insurance rates as the Federal Emergency Management Agency (FEMA) makes sweeping revisions to its flood maps and federal lawmakers seek to introduce further reforms to the National Flood Insurance Program. FEMA has been slow to revise its flood maps; so much of the concern among homeowners is related to reforms that were passed last year concerning the federal flood insurance program. These reforms are scheduled…

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