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Homeowners Push for Insurance Break On Flood Damages

In the wake of Hurricane Sandy, those who own luxury beach homes and those who develop condos within areas prone to flood damages are looking for a break with their insurance premiums. The issues regarding the insurance plans that homeowners are forced to pay, began after it was determined that the flood insurance programs were not large enough to cover all the extensive damages that resulted. Currently, the structure of flood insurance plans is as follows:    

FEMA maps areas near the coast line or larger bodies of water that are inland. Those maps depict the likelihood of flooding within the given areas. If you build within the flood zones mapped out by FEMA, it is mandatory to pay the insurance premium that is correlated with the likelihood of flooding. IF the property is subject to flood damages, FEMA will pay out the damages that come from that given areas insurance plan.

Current Flood Response Reports According to NBC News reporter, Bill Dedman, hundreds of property owners within the flood zones are lobbying to have their given zones insurance premiums lowered. Therefore, those homeowners will pay less for their insurance, but still receive full benefits – seems like an unfair advantage. Hurricane Sandy threw FEMA into crisis mode – even to the point where they would have gone broke if it weren’t for $9.7 billion in funding from Congress. As flooding is becoming more and more likely, home and property owners are becoming restless with the lack of funding to complete the restoration process. There is a very short time frame after the water from the flood is removed – which means that within 48 hours, the home is susceptible to mold growth which can cost you more money.


Avoiding Mold from the Flood Restoration contractors – such as those at Allied Restoration, who function within the Twin Cities of Missouri – specialize in:   

Water Damage Restoration Sewage Backups Mold Cleanup

Restoration contractors are a good way to go if your home is susceptible to any type of extensive, damage – whether it is from storm, fire, or flood. Emergency restoration contractors can board up your home in order to prevent further damages and can provide the homeowner with a full inspection after the damages have occurred.


Homeowners push for insurance break on flood damages