How Flood Insurance Works: 6 Questions Answered

By | Buying tips, Homeowner Tips, Hurricane, Insurance, Money Matters

What is flood insurance? Homeowners’ insurance doesn’t cover damage to a home caused by flooding; instead, a separate policy is needed to cover flood-related losses, defined as caused by water traveling along or under the ground. . ATLANTA – How does flood insurance work? Robert W. Klein, an expert from Georgia State University in Atlanta,… Continued

July 11, 2019

Flood only coverage now available privately

By | Buying tips, General, Homeowner Tips, Insurance, Money Matters

Company says it now offers flood-only coverage FORT LAUDERDALE, Fla. – March 9, 2016 – The first property insurance company that responded to Florida legislators’ 2013 call for more private flood solutions says it’s created another first. Homeowners Choice Property & Casualty has built what it says is Florida’s first regulated insurance company licensed solely… Continued

March 11, 2016

Great news about Flood insurance

By | General, Insurance

Effective May 1, 2014, all buyers of older properties (“pre-FIRM”) will see a premium rate reduction under the Homeowner Flood Insurance Affordability Act of 2014. Instead of jumping to “full cost” for flood insurance, buyers will assume the seller’s Oct-2013 rate for a pre-FIRM property. NAR prevailed upon FEMA to implement this provision seven months… Continued

May 5, 2014