Changes coming to Norfolk flood insurance rate maps
(AP) – Norfolk officials are urging residents to take notice of proposed changes to federal flood insurance rate maps in the wake of Hurricane Matthew.
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Category: Flood Claims
Rebuilding after Sandy.
Rebuilding after Sandy.
Consider the existing flood maps when rebuilding after Sandy.
After Hurricane Katrina may homes were rebuilt on the southern US coast and inner Gulf Coast areas. From Louisiana, to Georgia and Mississippi homes were raised to 15 feet above the base flood elevation where the ground level was 8 feet. Most governments and citizens thought a 7 foot height above the ground was enough and safe from future flooding. Homes were completed in 2008 and people in a flood zone of B had flood insurance rates reduced which was the expected result of raising or building to 15 feet at that time. Then in 2009 suddenly FEMA updates the flood maps in many areas!
Now the Base Flood Elevation (BFE) jumped to 16 feet putting everyone who just finished construction in 2008 under the required height to build. Who would have thought? Communities in these areas today are disputing these maps, however the maps are the maps and while the rates are grandfathered they still exceed a reasonable price averaging over $1,000 for at least $100,000 in building coverage with $50,000 in contents.
Fast forward to October 2016,
4 years after Sandy people are either finished or just getting finished with raising their homes. Rebuilding after Sandy communities from Nassau to Suffolk are using outdated flood maps showing lower flood levels. Many people in the coastal communities on Long Island have an average Base Flood Elevation of 8 feet. What most people don’t realize is the flooding from Sandy ranged on average from 8 to 10 feet. Homes are being raised and rebuilt only to the 8 feet plus 2 feet for a total of 10 feet requirement by local governments.
So is the 10 foot (BFE) correct? The answer is No. Local governments and politicians have closed door agreements with FEMA not to release the new maps. Why? Because imagine the cost and time of rebuilding if they did. Here is how the trickle down economics of this work..
- State and Federal programs have to pay out more in disaster recovery costs
- Cost of construction will be too high, forcing people who cannot afford this construction out of the area
- Homes will go vacant and have to be knocked down
- Houses not built to code compliance will loose considerable value because of
- Home Owners and Flood insurance cost
- High probability that flooding will happen again within the next 10 years.
- Tax revenue will be lost from these homes that loose value and go vacant, having a major impact on school funding and government funding for a long time to come.
- Homes already raised to the basic standard will be undesirable and subject to higher insurance rates.
Overall many mistakes are being made with the post Sandy rebuilding.
If we fail to rebuild correctly we will suffer the same fate as many who are now experiencing increased flood insurance rates in the southern coastal states. If FEMA releases new maps most of Long Island’s south shore will be subject to this.
Schumer, Gillibrand: Speed up Sandy flood claim probe
Schumer, Gillibrand: Speed up Sandy flood claim probe … Homeland Security’s inspector general to speed up its investigation into the National Flood Insurance Program after allegations of mismanagement, …
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Thousands of Staten Islanders to save on future flood insurance costs
Thousands of Staten Islanders to save on future flood insurance costs
Homeowners in those areas must buy flood insurance to get a federally-backed mortgage. Those wishing to develop or build in the zones have to …
The New FEMA maps will provide proper building heights for new homes and those in flood prone zones that have to be raised.
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Myrtle Beach flooding: ‘heart-breaking’
Socastee flooding: ‘Not just heart-breaking, it’s shocking’ West has been in the neighborhood for five years, and doesn’t have flood insurance. “They said you didn’t need flood insurance,” he said.
“Last year they claimed it was a 1,000-year flood. I guess this is the 1,001-year flood. Gordon West” Read more here: http://www.myrtlebeachonline.com/news/local/article108565947.html#storylink=cpy
“They said you didn’t need flood insurance. But if I leave here, even if I move on a mountain I’m gonna have flood insurance. Gordon West” Read more here: http://www.myrtlebeachonline.com/news/local/article108565947.html#storylink=cpy
Wow a call to flood insurance.
If you think you didn’t need the coverage, guess again. If the words here are not strong enough, see the pictures which are heartbreaking.
“I wanted to start my own life so when this house became available in my mom’s eyes, she offered it, and I went through all the headache and the process of getting a loan, and doing all the paper work and procedures,” he said. “We spent seven months alone just dealing with that. We moved in May, and here we are in October. And this is what’s left.” Read more here: http://www.myrtlebeachonline.com/news/local/article108565947.html#storylink=cpy
The options for Gordon West are an SBA Loan, FEMA Disaster Assistance, and possible a state program. If none of these can be obtained, local charities through the Red Cross and religious charities may help fill the gap.
Our heart goes out to Gordon West, he story is all too familiar.
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Only flood insurance covers losses from floods
Only flood insurance covers losses from floods
The total economic cost could exceed $9 billion, but many homeowners didn’t have flood insurance, according to Robert W. Klein, who teaches risk …
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Insurance Home Inventory Apps
Taking a Home Inventory for your insurance is a must.
After living through a major flood insurance claim in my home, I can’t tell you how valuable of a tool this is. I will make sure to mention one thing of course, it’s all about your adjuster! That’s why making a home inventory is ever more critical because if you don’t have a good adjuster, they are not going to think of all the little things that make your home or apartment unique. Even good adjusters often miss things.
So let’s break this up into 2 Coverages to focus on ..
Contents and Building coverage..and you should prepare an insurance inventory even if you have a renters or apartment/condo insurance policy.
On Contents (this includes your apartment/condo owners or renters) let’s break this down into major categories;
- Furniture
Un-fixed appliances (I’ll explain)
Electronics
Clothing
Fine possessions..( Jewelry, Art, Memorabilia.. Must be valued)
Books
Children’s Toys
Throw rugs or floor carpets
Personal power tools and equipment
Recreational equipment such as Bicycles or fitness equipment..
Wow! Who would have thought about all that stuff. Even in a small one bedroom apartment this can amount to over $50,000 very quickly.
Here are the basics,
1. Scan all receipts for purchase of these items if you have them. This should be easy and only take a few seconds per receipt.
2. Take pictures of everything on this list if possible. For items such as electronics, un-fixed appliances (appliances not hard wired or connected to the building), take a main picture of the item and take a picture of the label with model number and serial number as well. This is because your adjuster will most of the time assume you bought the base model not a higher grade model, so you want make you get what you’re entitled to as a replacement.
3. Categorize the inventory and make sure that info is backed up to the cloud so you grab it quickly if you need it after a loss.
4. Any Jewelry, Art, Memorabilia.. worth over $2,500 should be appraised. Make sure you place the appraisal in a fire proof safe or bank safe deposit box.
On building coverage please follow the above basics steps. Also if you own a condo, apartment or coop you are responsible for the interior of your unit and appliances. So listen up, here are the major categories for building coverage:
- Walls and Floors (type and quality of covering materials, tile, wood, wall paper, and carpet)
Fixed appliances (those which are permanently attached to Power or water. Think.Washer and Dryer, stove, dishwasher, )
Doors and mouldings ( it’s critical that you know the type and grade of doors and mouldings in your house)
Fixtures (lights, fans…)
Home engineering (Furnace, hot water heater, air conditioner) take a picture of the label with model and serial number.
Extras… such as Alarm systems, generator, garage door opener, camera systems.. All these items add value.
Decks
Roof type materials
Siding type
Insulation
Why building items? Because after a major claim your head is going to be spinning. You’re not going to remember everything and neither is your adjuster.. You need to focus on getting back to normal. Not only that it will make your Adjusters job easier.
Making an insurance inventory will serve as a nice tool when reviewing your insurance with your agent.
Here are a list of recommended apps to begin making your home inventory and other resources..
https://learningcenter.statefarm.com/residence/insurance-2/creating-a-home-inventory/
Apps
Allstate Digital Locker works on the web, iPhone, or Android.
Evernote and OneNote let you organize photos and text documents across the web and your mobile devices, which makes it a great way to store inventory photos alongside notes containing additional information. Evernote is available for iOS, Android, Windows Phone and Blackberry devices and as a downloadable desktop app. OneNote is available for Windows Phone, Windows RT, Android, iOS and mobile browsers can access OneNote web app. A desktop version available as well.
Google Docs is an online word processing tool that lets you create a basic list of your belongings—and, while it’s not the best place to store images, you can add images to your documents for a complete inventory.l
State Farm HomeIndex works on the web, but can easily be accessed by a mobile device, too.
Liberty Mutual Home Gallery lets you take a photo inventory using your iPhone, iPad, or Android device.
I hope you find this helpful. Please put it on your schedule at best to update the inventory 2 times a year or at least annually.
Good luck..