Flood Insurance Archives

14 Oct 2021 Hasn’t Broken Record for Most Billion-Dollar Climate Disasters (Yet?)

Posted at 20:18h in 2021, Commercial Insurance, Flood Insurance, hurricane season, Personal Insurance

By Anita Byer, Setnor Byer Insurance & Risk Did you know that the U.S. experienced 308 billion-dollar weather and climate disaster events since 1980? According to the National Oceanic and Atmospheric Administration, the total cost of these events exceeds $2 trillion. Since 1980, the U.S. averaged...

03 May How Will the NFIP’s New Pricing Model Affect Your Flood Insurance Premiums?

Posted at 19:27h in Commercial Insurance, Flood Insurance, Personal Insurance, Risk Management

Are you ready for Risk Rating 2.0? The National Flood Insurance Program (NFIP) is rolling out the first major update to its rating and pricing methodology in 50 years. This is a big deal because the NFIP provides about $1.3 trillion of flood insurance coverage...

27 Jul Grandfathered Flood Insurance Premiums Can Be Locked-In Indefinitely, But Time is Running Out

Posted at 18:27h in Commercial Insurance, Personal Insurance, Safety

The Federal Emergency Management Agency is in the midst of a multi-year initiative to update flood zone maps in more than 20,000 communities nationwide. Current maps need updating to more accurately reflect the risk of flooding. Flood hazards change over time and maps in some...

29 Oct Mother Nature Doesn’t Read Flood Zone Maps

Posted at 13:46h in Personal Insurance, Safety

Is your home in a flood zone? You can easily find out by looking at a map of your state. If your house is located anywhere on that map, it’s in a flood zone. It’s true. Just look at the flooding caused by Hurricane Harvey...

18 Oct Lessons from Hurricane Irma

Posted at 16:58h in Commercial Insurance, Personal Insurance, Risk Management, Safety

Hurricane Irma was an unprecedented storm that affected literally everyone in Florida. Most of us were either expecting or experiencing a direct hit. All of us were given at least a glancing blow. Even though the mess remains and recovery efforts are ongoing, it’s not...

11 Mar National Flood Insurance Program Reform

Posted at 13:14h in Personal Insurance

Many people don't realize that flooding is the most common natural disaster in the United States. In the past 5 years, all 50 states have experienced floods. According to the Federal Emergency Management Agency (FEMA), total flood claims average nearly $4 billion per year. The...

23 Jul Is Your Self Storage Facility Prepared for the Next Disaster?

Posted at 12:40h in Self-Storage

Preparation is the key to surviving a natural or human-caused disaster. Nevertheless, a survey by the Ad Council found that 62% of respondents did not have an emergency plan in place for their business. Since up to 40% of businesses affected by a natural or...

08 Jan Understanding the National Flood Insurance Program

Posted at 20:39h in Personal Insurance

Property damage caused by flooding is not covered by standard homeowners’ insurance policies, so those facing a flood risk need a separate flood insurance policy. The National Flood Insurance Program (NFIP) provides access to affordable, federally backed flood insurance. What is a Flood? The NFIP defines a...

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