Do you have adequate flood insurance? Flood insurance is not on the typical homeowners insurance policy and every year a quarter of the flood losses happens to homes considered “low to moderate flood risks” by the Federal Emergency Management Agency (FEMA). That’s right, 25% of flood losses occur in areas where they’re not expected. This [...]
Did you know that if your house is flooded and your car, sitting happily in the garage, is damaged by the water, then you should be covered by your car’s comprehensive auto insurance policy? It doesn’t matter that the car was garaged in the house, if it is damaged then it usually will be covered [...]
I unearthed this gem of an article back in 1991 in the New York Times regarding heavy flooding in the New England area, stretching from New Jersey to Maine. The article goes on to discuss how even though you may not have separate flood insurance coverage with your regular homeowner’s insurance you may be covered [...]
Were you thinking about picking up some flood insurance after hearing the latest hurricane warning? Unfortunately, you will not be covered in time if the hurricane hits within the next thirty days. To prevent this sort of run on homeowner insurance providers, there is typically a thirty day waiting period before a flood insurance rider [...]
Ever hear the term “100-Year Flood Plain” or “50-Year Flood Plain” and wasn’t sure what it meant? It means that when flood maps are produced for a certain area, a place determined to be in a 100-year flood plain is expected to be flooded once every one hundred years. A 50 year flood plain means [...]
Jury selection has begun in a case of one Katrina victim versus Allstate in which the homeowners claimed that the insurance company didn’t pay out enough. The crux of the argument is that Allstate didn’t cover flooding on their standard policies, the homeowners had water damage but it’s difficult to clearly prove it was wind [...]