flood insurance: I bet you didn't know about "non-Flood zone" homes flooding
- 01/19/13 12:50 AM
25% of all flood Claims are from a non flood zone area. One in four homes does not experience a flood loss every year. However, out of the flood claims filed each year, one in four is in a non flood zone. Flood is defined as the rising and overflowing of water onto normally dry land. If you are in a non flood zone, you lender usually does not require Flood Insurance. However, IF you were to have a flood, your home and its contents, along with your personal property would not be covered. Flood insurance is available to homeowners, … (12 comments)
· V Zone (coastal high-velocity zones) will increase more - between 8% and 10% on average.
· Preferred Risk Policies will receive a double dose - an increase of 3% in October and then another increase closer to 10% in January.
· For the first time the flood program will differentiate between primary and secondary homes. FEMA has always subsidized secondary home … (23 comments)
flood insurance: Businesses seek Government Flood Insurance after Sandy's Disaster
- 11/18/12 07:55 PM
More businesses are expressing interest in purchasing flood insurance coverage from the National Flood Insurance Program (NFIP) in the wake of Superstorm Sandy’s heavy rain, record storm surge, and resulting widespread flood damage. According to NFIP, almost 40 percent of small businesses never reopen following a disaster. Over the past five years, the average commercial flood claim has been about $75,000. Out of NFIP’s more than 5.5 million policies, only about 283,000 are non-residential. The policy limit of $500,000 is often inadequate for businesses, so many turn to commercial insurers for flood insurance. Many non-residential buildings in a moderate-to-low risk … (7 comments)
flood insurance: Flood Insurance: What you should be asking your Agent
- 06/23/12 12:00 AM
Anywhere it rains, it can flood; and just because you’ve never experienced a flood in the past does not mean you won’t experience on in the future. Should a flood occur, your homeowners insurance will not cover any loss or damage to your home or possessions, that’s why Flood Insurance is one of the most important coverages you can discuss with your insurance agent. To be proactive about your flood policy, you should make an appointment to discuss flood coverage with your agent and ask your them the following questions: What is my property's flood risk? Is flood insurance mandatory … (5 comments)
flood insurance: Flood Insurance information
- 10/18/10 09:15 AM
Review your Flood Insurance policy and understand what's covered. Flood insurance covers buildings and/or contents for residential and non-residential properties. It's important to know what your policy covers. To claim personal property loss you must have contents coverage. Use this list for general guidance: Covered: • The insured building • Built-in appliances and central air • Permanently installed paneling, wallpaper, cabinets and carpets • Garage (up to 10 percent of total building coverage) • Limited coverage for basements • Debris removal • Contents, if contents coverage has been purchased Not covered: • Vehicles • Decks • Land and fences • Plants … (2 comments)
25% of all flood Claims are from a non flood zone area. One in four homes does not experience a flood loss every year. However, out of the flood claims filed each year, one in four is in a non flood zone.
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