The Homeowner Flood Insurance Affordability Act of 2013 (H.R. 3370) is a bill that would reduce some of the reforms made to the federal flood insurance program that were passed two years prior. The bill would reduce federal flood insurance premium rates for some properties that are sold, w...
Don't risk losing everything to flood damage. Forbes Advisor's comprehensive guide talks about how flood insurance works, cost & coverage, when & how to buy it.
Mold in your home can create numerous challenges, and your homeowners insurance may cover mold damage only under certain circumstances.
Today, FEMA published a Federal Register notice requesting public comment for the “National Flood Insurance Program: Standard Flood Insurance Policy, Homeowner Flood Form," intended to reduce barri...
Only 2% of homeowners in California have flood insurance. And the wave of storms hitting the state are far from over. Updates.
Less than 2 percent of Californians have flood insurance. This week’s storms aren’t likely to change that.
Homeowners insurance does not cover certain types of water damage. While your homeowners insurance will probably help cover the cost of replacing or repairing a damaged floor if your dishwasher suddenly goes on the fritz, coverage generally will not kick in if the damage results from an unresolved maintenance issue, such as continuous leaking near a faucet or other plumbing fixture. Most homeowners insurance policies will not cover the source of the water damage. So, while your policy may cover the cost of tearing out and replacing that damaged ...
Date, Event, Number of paid losses, Amount paid ($ millions) when occurred ; Aug. 2005, Hurricane Katrina, 168,200, $16,330 ; Oct. 2012, Superstorm Sandy, 132,800, 8,967 ; Sep. 2017, Hurricane Harvey, 77,100, 9,015
The National Flood Insurance Program (NFIP) is managed by the FEMA and is delivered to the public by a network of more than 50 insurance companies and the NFIP Direct.
Recent developments ; The new rates went into effect on October 1, 2021 for new policies and will go into effect on all remaining policies renewing on or after April 1, 2022. A Triple-I Blog post explains how the new rating methodology will make the system fairer. In 2019, federal regulators announced a rule requiring regulated lending institutions to accept private flood insurance policies comparable to the National Flood Insurance Program. The rule took effect July 1, 2019. (See Private flood insurance below.) In June 2014 Florida enacted a l ...