Building homes to a more sound structural standard makes a huge difference in a storm. These videos available at www.disastersafety.org show the difference between homes built to fortified standards and those built to older construction codes. Take a moment to visit this website and learn how you can protect your investments. Fortified homes are subject…
Archives for September 2014
How do I reduce the cost of my flood insurance?
In last week’s post we discussed what flood insurance costs in various flood zones. We mentioned that living in an “X” zone was the most desirable zone for keeping your flood insurance costs low. However, if your piece of paradise is located in an “AE” or “VE” flood zone, here are some helpful tips in…
Important News for Condo Owners
On August 29, 2014, AM Best downgraded the financial strength rating for Companion Property and Casualty Insurance Company and its subsidiaries from A (Excellent) to B++ (visit this link to view the press release from AM Best). Companion has been one of the largest providers of condominium unit owner’s insurance in our area for many…
What does Flood Insurance coverage cost?
In last week’s post, we discussed the different flood zones and what they mean for your property. Remember, all properties and homes in the US are in a flood zone. Here is a quick refresher of the three current flood zones: An “X” zone is considered non-hazardous and lenders do not typically require flood insurance…
Is My Home in a Flood Zone?
Is your home in a flood zone? YES… all homes are in a flood zone. You may find this confusing if someone has told you that your home is not in a flood zone, or your lender does not require you to carry flood insurance. In reality, it may just be that your home…
What is a flood, and what’s the difference between flood coverage and wind coverage?
To read the really long version of the FEMA’s definition of a flood, you can click here. But in simple terms, a flood is any temporary instance of rising water affecting two or more acres, or two or more properties, that are typically on dry land. And despite what some may say, all properties in…