We’ve all seen the dramatic effect hurricanes can have – both the initial wind then rain and the floods that follow. Make sure your homeowners insurance provides the coverage you need before the storm hits. If you can’t live in your home, make sure your policy will pay additional living expenses. Review your policy for…Read more
Flood Insurance to be Escrowed
Five federal financial agencies this week finalized a rule requiring lenders to escrow flood insurance premiums for homes in flood zones, and exempting homeowners from a requirement to buy flood insurance for detached structures. Highlights of the agencies’ action: Banks and mortgage servicers must escrow for flood insurance premiums on mortgages made, increased, extended or…Read more
Flood Insurance May Be More Important than You Think
Did you know that everyone lives in a flood zone? It’s just that every area has a different level of risk, low, moderate, or high. It’s common to think floods only happen on the coasts. However, millions of flood insurance claims have come from states with no coastal land. So, are you at risk? You…Read more
Water Backup – What’s Covered, What’s Not?
Homeowners insurance is designed to cover a sudden and accidental loss but there are exclusions. One of the most common exclusions is water backing up from a sewer line and overflowing into the home. There are policies that provide coverage for water backing up through sewers or drains as long as it originates on premise.…Read more
Am I in a Flood Zone?
I get this question all the time and without evening speaking to you the answer is “YES”. Every home is located in a Flood zone it’s just some zones are at a higher risk than others. Flood damage is the number 1 catastrophe in the nation yet very few homeowners purchase Flood insurance. Why? I…Read more