Tag Archives: National Flood Insurance Program

Is Your Home Ready for Peak Hurricane Season?

Is Your Home Ready for Peak Hurricane Season

By Richard A. McGrath, CIC, LIA Peak hurricane season is right around the corner, starting in mid-August and lasting through late October. Are you confident that your homeowner’s insurance policy will provide enough protection to cover the cost of potential damage? The New England region is no stranger to the devastation caused by hurricanes. In […]

Read More Comments Off on Is Your Home Ready for Peak Hurricane Season?

4 Things Flood Insurance Policyholders Should Know About NFIP Changes

4 Things Flood Insurance Policyholders Should Know About NFIP Changes

The Federal Emergency Management Agency (FEMA) is taking strides to strengthen the National Flood Insurance Program (NFIP) through recent legislation, such as the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). These changes are working to make the NFIP actuarially sound by better aligning flood premiums to their level of […]

Read More Comments Off on 4 Things Flood Insurance Policyholders Should Know About NFIP Changes

Flood Insurance Policyholders Feel the Impact of HFIAA

Flood Insurance Policyholders Feel the Impact of HFIAA

Across the country, flood insurance policyholders (and their wallets) are feeling the impact of the changes mandated by the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). The law, passed by President Obama in March of 2014, went into effect April 1, 2015 as a way to slow some flood rate increases, as well as […]

Read More Comments Off on Flood Insurance Policyholders Feel the Impact of HFIAA

Flood Insurance Basics for the Spring Thaw

Flood Insurance Basics for the Spring Thaw

After weeks of winter storms with heavy snow, it’s finally starting to look and feel like spring time in New England. Although everyone is anxious for the warmer weather to begin, spring can bring about heavy rains and rapid snow melt that can increase chances of flooding. Am I at Risk for Flooding? As the […]

Read More Comments Off on Flood Insurance Basics for the Spring Thaw

Summer Safety Tips

Summer Safety Tips

Summer is officially here! Although the warm season can be a fun and relaxing time, it can also expose us to new and unexpected risks. No matter what your plans are this season, stay prepared for the unexpected. Follow these summer safety tips to ensure your summer is not only fun, but safe. Summer Fun […]

Read More Comments Off on Summer Safety Tips

Hurricane Season is Flood Season

Hurricane Season is Flood Season

Coastal areas aren’t the only areas that experience the brunt of the strong winds and torrential rains of a hurricane or tropical storm. And with the hurricane season starting June 1, there is just one question left to ask. Are you covered? Eight out of the ten most expensive federally declared disasters were caused by […]

Read More Comments Off on Hurricane Season is Flood Season

Proposed Bill would Decrease Flood Insurance Costs

By Megan Cooney, Marketing Assistant Important Updates to Flood Insurance: March 17, 2014: The U.S. Senate passed the “Homeowners Flood Insurance Affordability Act.” *** The U.S. House of Representatives recently passed a bill that would help lower the cost of flood insurance. On Tuesday, March 4, 2014, the “Homeowner Flood Insurance Affordability Act” was passed […]

Read More Comments Off on Proposed Bill would Decrease Flood Insurance Costs

Flood in Your House, Flood on the Brain

By Megan Cooney, Marketing Assistant As of October 2013, many aspects of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW12) are being put into effect. The reform has many homeowners struggling to understand how it will affect them. The bottom line is this. The rates for flood insurance are dramatically increasing, and many homeowners […]

Read More Comments Off on Flood in Your House, Flood on the Brain

Preparing for Hurricanes and Tornados

By Richard A. McGrath, CIC, LIA Hurricane season began this year with a series of devastating tornadoes in Oklahoma. First, a tornado classified as EF5, which is the most powerful ranking, tore through a suburb of Oklahoma City and killed 24 people.  Just 11 days later, five tornadoes hit central Oklahoma, causing flash flooding and […]

Read More Comments Off on Preparing for Hurricanes and Tornados

Even If You Live Inland in Massachusetts, Hurricanes Can Damage Your Property

By Richard A. McGrath, CIC, LIA That Hurricane Isaac was no Katrina is little consolation to the 13,000 homeowners whose homes were damaged or destroyed by the recent hurricane. Damages from Isaac could top $1.5 billion.  That’s small in comparison with Hurricane Katrina, which caused $81 billion in damages in 2005, according to the National […]

Read More Comments Off on Even If You Live Inland in Massachusetts, Hurricanes Can Damage Your Property