Most consumers think their insurance covers flooding

NEW YORK – April 10, 2017 – Fifty-six percent of consumers recently surveyed believe that a standard homeowner’s policy covers flood damage. But they’re wrong, and their assumption could be costly. A survey by insuranceQuotes of about 1,000 consumers shows a lot of misunderstanding when it comes to home insurance – specifically what’s covered and [...]

April 19th, 2017|

Flood insurance price break started May 1

Flood insurance price break starts today Flood insurance disclosuresFlorida Realtors has released an amended disclosure, Flood Insurance Notice FIN-2, and a new optional Buyer’s Request for Repairs and/or Remedies BRR-1. Both are now available in Form Simplicity and through other contract vendors. Read more.WASHINGTON – May 1, 2014 – Effective today, all buyers of older properties [...]

May 9th, 2014|

In May, some flood policy costs revert to 2013 levels

In May, some flood policy costs revert to 2013 levels   WASHINGTON – April 15, 2014 – David L. Miller, associate administrator with the Federal Insurance and Mitigation Administration, part of the Federal Emergency Management Administration (FEMA), released a memorandum with guidelines for insurance companies that sell flood insurance on behalf of the National Flood [...]

April 23rd, 2014|

GOOD NEWS ON FLOOD INSURANCE

Congress clears bill to ease flood insurance hikes WASHINGTON – March 14, 2014 – Florida homeowners saddled with recently raised flood insurance premiums they can’t afford will have much of that burden lifted when President Obama signs a flood insurance bill that the Senate passed yesterday. The bill, H.R. 3370, passed the House earlier. U.S. [...]

March 20th, 2014|

FINALLY- some relief for HOMEOWNERS regarding FLOOD INSURANCE

TAMPA, Fla. – March 5, 2014 – A bill to repeal many of the rate hikes in the government’s flood insurance program passed in the U.S. House of Representatives Tuesday with strong bipartisan support. After weeks of revisions by both House Republicans and Democrats, the Homeowner Flood Insurance Affordability Act passed 306-91 following a brief [...]

March 7th, 2014|

U.S. House releases its own flood insurance bill

U.S. House releases its own flood insurance bill WASHINGTON – Feb. 25, 2014 – Florida Gov. Rick Scott pressed for help in high places on flood insurance in a meeting with President Barack Obama on Monday, but the issue may be decided in the GOP-controlled U.S. House. The issue has split some Republicans in coastal [...]

March 3rd, 2014|

What is happening with flood insurance you ask?!?

Senate Passes Flood Insurance Bill- By Austin Perez January 30, 2014 On Jan. 30, 2014, the United States Senate voted 67-32 to approve the Homeowner Flood Insurance Affordability Act (S. 1926), sponsored by Senators Menendez (D-NJ) and Isakson (R-GA). This bipartisan legislation, an NAR member priority, calls for a 4-year timeout on rate increases triggered [...]

February 6th, 2014|

YAY!! The government is going to STUDY the effects of a law before passing it!!

Even if you don't care about insurance, or buying/selling a home- this is an important article.  Without a delay, homeowners could literally see flood insurance rates jump from $1000 to $10,000!!!   House-Senate plan could delay flood ins. increasesFlood Insurance ToolkitWhat can a homeowner or buyer do about flood insurance rate increases? Check Florida Realtors’ [...]

October 29th, 2013|

Fla. Gov. to U.S. Senators: Stop flood insurance hikes

Great article below on what is happening with flood insurance-  If you aren't in the know, trust me when I tell you:  The impending changes to Flood Insurance will CRUSH the recovery of any homes in a flood zone by increasing premiums as much as 1000% percent when a house is purchased.  But, then again; [...]

September 18th, 2013|
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