If you let your flood insurance lapse and then got hit by Helene, you may be able to renew it
2 months, 1 week ago

If you let your flood insurance lapse and then got hit by Helene, you may be able to renew it

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Residents in the states hit by Hurricane Helene who had coverage through the federal flood insurance program but let it lapse before the storm hit may be able to renew it and still be covered from the impact. The Federal Emergency Management Agency said late Thursday that certain policyholders in seven states affected by Hurricane Helene whose insurance lapsed now have extra time to renew their coverage. Usually people who have policies through the FEMA-run National Flood Insurance Program get a 30-day grace period after their policies expire when they can renew and still be covered for anything that happens in the grace period. “By extending the grace period for renewing policies, we are giving our policyholders some breathing room and demonstrating that the National Flood Insurance Program stands with them at time of tremendous heartache and difficulty," said Jeff Jackson, the interim senior executive of the program.

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History of this topic

The economic impact of Helene and Milton — and who pays for it
2 months ago

The economic impact of Helene and Milton — and who pays for it

Salon  

The 2024 hurricane season could rank among the most expensive after Helene flooded North Carolina in late September and Hurricane Milton hit south Florida about two weeks later. We need your help to stay independent Subscribe today to support Salon's progressive journalism The Federal Emergency Management Agency also provides direct aid to people who apply for assistance following natural disasters. …

No Hurricane Will Make Rich People Leave Florida
54 years, 11 months ago

No Hurricane Will Make Rich People Leave Florida

Slate  

It has been two weeks since the Tampa Bay area experienced what the Tampa Bay Times called its “worst hurricane in a century,” when Hurricane Helene made landfall up the Florida coast. The factors pushing landlords toward a richer slice of the market included “high costs, inadequate or difficult access to recovery resources, and strong market incentives to redevelop existing …

Few have flood insurance to help recover from devastating Midwest storms
5 months, 3 weeks ago

Few have flood insurance to help recover from devastating Midwest storms

Associated Press  

SOUTH SIOUX CITY, Neb. “I don’t think people have a personal experience with floods like this very often,” said Nathan Young, associate director of the Iowa Flood Center. Federally-backed mortgages and many banks require flood insurance in high risk zones identified by the Federal Emergency Management Agency, but those maps don’t consider flooding from all sources, like rain. This is …

Insurance crisis leaves homeowners vulnerable in hurricane-prone Louisiana
10 months ago

Insurance crisis leaves homeowners vulnerable in hurricane-prone Louisiana

Al Jazeera  

Since the 2020 hurricanes, nine insurers became insolvent in the US state of Louisiana within a couple of years. Risky business models “We built way too many houses in really dangerous places,” said Edward Richards, an emeritus professor at Louisiana State University who focuses on insurance and extreme weather. In 2005, State Farm and Allstate had the largest market share …

Does insurance cover flooding and mudslides?
10 months, 2 weeks ago

Does insurance cover flooding and mudslides?

LA Times  

This week’s rain is turning streets into creeks and hillsides into mudslides. Homeowners across Southern California are facing major damage to their homes as a result — and in most cases, they won’t get any help cleaning up the mess from their insurance companies. Mudslides, mud flows and debris flows aren’t covered by typical homeowners’ insurance, either — though in …

The vast majority of California flood victims’ losses won’t be covered by insurance
10 months, 2 weeks ago

The vast majority of California flood victims’ losses won’t be covered by insurance

CNN  

New York CNN — Many victims of the massive storms now battering Southern California about are to be hit with another heartbreak - discovering their insurance won’t cover the damage. Story highlights Less than 1% of homes in the affected area have flood insurance LA has over 10 million residents but fewer than 15,000 flood insurance policies Federal flood insurance …

Insurers say everyone will need flood coverage as climate change impact unfolds
1 year, 10 months ago

Insurers say everyone will need flood coverage as climate change impact unfolds

NL Times  

Insurers want every Netherlands resident to be able to get coverage against major flooding from 2025. The dichotomy on who covers what type of flood damage stems from the 1953 flood disaster, which caused so much damage that insurers could never bear it. Therefore, the government became the party that had to compensate for the damage when the primary flood …

US may need to overhaul its flood insurance policy; here’s why
1 year, 10 months ago

US may need to overhaul its flood insurance policy; here’s why

Firstpost  

Rebecca Elliot, Associate Professor of Sociology at the London School of Economics, told Now This News that the United States’ flood insurance scheme is not feasible considering the widening impact of climate change With climate change wreaking havoc the world over, the planet has been facing more extreme weather patterns like torrential rainfall, droughts or floods. Rebecca Elliot, Associate Professor …

In soaked California, few homeowners have flood insurance
1 year, 11 months ago

In soaked California, few homeowners have flood insurance

Associated Press  

ACAMPO, Calif. — On Sunday morning, Kyle Starks woke up to floodwaters that reached the door of his Jeep after yet another heavy rain storm drenched California. “People think the only people that need flood insurance are people who live right on the beach or on the banks of a river that has a history of flooding,” Bach said. When …

In flood-ravaged towns like Eugowra, residents face 'nonsensical' flood insurance premiums
2 years ago

In flood-ravaged towns like Eugowra, residents face 'nonsensical' flood insurance premiums

ABC  

As beeping trucks and heavy machinery collect flood debris strewn down her street, Eugowra resident Alison Teml surveys the damage to her home. Key points: Flood and storm insurance claims since 2020 have topped $12.3 billion, according to the Insurance Council of Australia Flood victims say they can't afford insurance premiums Experts say government-backed "reinsurance pools" could provide coverage for …

EXPLAINER: Flood insurance revamp aims for fairer rates
3 years, 2 months ago

EXPLAINER: Flood insurance revamp aims for fairer rates

Associated Press  

A revamped U.S. flood insurance program going into effect this month will charge rates the federal government says better reflect a home’s risk, a change that could mean higher premiums for coastal mansions and -- for the first time -- reduced rates for others. The Federal Emergency Management Agency says its new formula means owners of lower-cost homes will no …

A Looming Disaster: New Data Reveal Where Flood Damage Is An Existential Threat
3 years, 10 months ago

A Looming Disaster: New Data Reveal Where Flood Damage Is An Existential Threat

NPR  

A Looming Disaster: New Data Reveal Where Flood Damage Is An Existential Threat toggle caption Ryan Kellman/NPR Pastor Aaron Trigg was at home when the water arrived in Rainelle. FEMA warns that the First Street Foundation's analysis is only an estimate and that FEMA didn't provide the research group with details about the new flood insurance pricing plan, known as …

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