Hurricane Ian ’s storm surge brought numerous feet of water into homes on Florida's west coast, and left behind mold, muck, mud and a flood insurance nightmare for residents who want to rebuild. Many Floridians who suffered extensive flooding did not carry a separate flood insurance policy to cover the damage caused by the deadly storm. It’s left homeowners — and even renters — with a hefty and, possibly, life-changing expense that could decide whether they are rendered homeless. Susan Cavanaugh and her two kids are living through that ordeal after the first floor of their home on Sanibel Island, where all three live and work, was engulfed by the storm surge. While going through a costly...
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The report titled Global Flood Insurance Market 2020 by Company, Regions, Type and Application, Forecast to 2025 introduced by MarketQuest.biz offers a whole study of the parent market, synopsis, new industry data, and innovative future tendencies, ruling vendors, and predictions, analysis. The report highlights various market dynamics like trends, drivers, challenges, and opportunities. The report discusses the market dimensions, analysis of market share, and outline of the competitive scene and top merchants in the industry. The report is segregated by company, by country, and by application/types for the competitive landscape analysis. The research further includes the introduction of...
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Rhode Island Flood Insurance Recent severe weather events highlight the increasing need for flood insurance. It’s no longer an option, but a real life necessity – even if you do not live on high hazard flood plain. Loiselle Insurance tailors insurance to your needs so your home and possessions remain protected. Here’s what you need to know. Your Homeowner’s Policy Does Not Protect You Homeowner’s insurance protects against many perils, but flood water is not one of them. You need a Rhode Island flood insurance policy to protect you from the financial implications of damage repairs, relocation, and returning your home to its previous state. If your home sits on a high hazard flood...
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Flood Insurance Market research Report is an inestimable supply of perceptive information for business strategists. This Flood Insurance Market study provides comprehensive data which enlarge the understanding, scope and application of this report. A specific study of competitive landscape of the global Flood Insurance Market has granted, providing insights into the corporate profiles, financial standing, recent developments, mergers and acquisitions, and therefore the SWOT analysis. This analysis report will provides a transparent program to readers concern regarding the overall market situation to further choose on this market projects. The Flood Insurance Market report profiles the...
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How many Phoenix area homes are a flood risk? New data raises questions A new model shows that most Maricopa County properties required to have flood insurance may not face the level of risk determined by local and federal authorities. According to the Federal Emergency Management Agency, more than 35,000 Maricopa County properties have a 1% chance of annual flooding. But a nonprofit that enlisted dozens of scientists, engineers and researchers has reported that fewer than 600 properties are at such risk. The federal government uses a 1% annual chance to determine whether homeowners must buy flood insurance. That translates to about a 1-in-4 chance of flood over the lifetime of a 30-year-...
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Flooding is the most common and costly catastrophe insurance claim in the US, causing billions in economic losses every year. According to the National Flood Insurance Program (NFIP), 90% of natural disasters in the country involve flooding. There’s no coverage for flooding in standard homeowners or renters policies or most commercial property insurance policies. Coverage is available in a separate policy from the NFIP and a few private insurers. Here are the top 10 private flood insurance companies, according to the Insurance Information Institute: Direct Written Premiums: $299,749 The FM Global Group is a family of property insurance-focused companies, including AFM, FM Approvals,...
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The last several years have brought multiple catastrophic flood events to the United States and its territories, most recently hurricanes Dorian, Florence and Michael and flooding in the Great Plains and Midwest. Flooding is the costliest type of disaster in the country, causing more than $1 trillion in estimated losses since 2000, according to the National Oceanic and Atmospheric Administration. Dollar losses due to tropical storms and other flood events have risen tenfold since the 1980s, with the federal government bearing much of the financial responsibility. Scientists are increasingly confident climate change worsens extreme weather events. Properly preparing, planning for and acting...
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Tens of thousands of families who bought new homes in flood-risk areas are facing “crippling” financial costs, as they are ineligible for cover under a government-backed insurance scheme, a study has found. Research by the liberal conservative thinktank Bright Blue found that 70,000 homes had been built on land at the highest risk of flooding in England since 2009, including 20,000 that were not protected by flood defences. Homes built after 1 January 2009 are not eligible for insurance under Flood Re, a government scheme launched in 2015 with the aim that about 350,000 homeowners would have access to affordable cover. However, the scheme has been criticised – not least because tens of...
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Remembering the importance of flood insurance on 10th anniversary of Nashville flood | Opinion Ten years ago, Nashville and the surrounding areas were devastated by a flood whose magnitude will never be forgotten. As the floodwaters invaded Nashville, took lives, and damaged property and public infrastructure, we all watched with immense disbelief and sadness. Immediately following that, we pulled together, volunteered to help each other, and helped the city recover. With the recent series of tornadoes across Tennessee simultaneous with the spread of the global COVID-19 pandemic, we have again faced unbelievable sadness and devastation, but it seems that there is truly nothing that...
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Flood Insurance According to the NFIP, floods are the #1 most common natural disaster in the United States. Such an alarming statistic calls for a course of action. As a homeowner, it is critical to protect your property and valuables from a possible flooding situation. If your home is not currently covered in terms of flooding, you have come to the right place. At The Horton Group, we have the answers and coverage that you are looking for! Am I at Risk for Flooding? This is a common question that homeowners ask themselves. For those who live inland, it seems pretty impossible to face a flood – right? Wrong. Each and every state is vulnerable when it comes to flooding. In fact, a large...
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