Friday, April 26, 2013
Homeowners are faced with a choice of elevating a home at a high cost or paying thousands more for flood insurance
Elevate, pay thousands more in flood insurance premiums or simply walk away from homes? That is the question on the minds of some Hurricane Sandy victims. The first floor of Craig Verran’s Manasquan home was totaled. A home that never took on water in its nine years is now being refurbished prior to Verran making his decision. “It’s a tough decision,” Verran said. “You either elevate or else. It’s an 'or else' situation. You’re going to face premiums that are unbearable.” In addition to $150,000 toward the damage to his home and car, Verran will be facing at least $75,000 to elevate his home or a $7,500 increase in his insurance, he said. Before Sandy, Verran’s home was 1 foot above the required elevation and not in a flood zone. Now, with…
Tuesday, February 12, 2013
Residents of Union Beach met with Rep. Frank Pallone on Tuesday to air grievances about insurance.
Randall Kidd’s story isn’t unique. A Union Beach resident, he’s faithfully paid into the National Flood Insurance Program for years, insuring his home against the kind of flood damage caused by Hurricane Sandy with a $217,000 policy he hoped would make him whole. After his home was destroyed by the late October storm, Kidd set about filling out the appropriate paperwork, meeting with adjusters who came in from out of state and waiting for the check to arrive so he could start to work. Finally, the check did come, but for $89,000, less than half of what contractors have told him it will cost to rebuild his home. In a crowded conference room at Union Beach’s municipal building, Kidd and other area residents met to find an answer, or at least…
Friday, December 14, 2012
The Advisory Base Flood Elevations will be published Saturday morning. FEMA hosted a teleconference Friday to explain the motivation behind the reports.
UPDATE: New "Advisory Base Flood Elevations" are now posted to this interactive map. More resources are available on FEMA's ABFE page for New Jersey and New York. __________ New maps being released by the Federal Emergency Management Agency Saturday will recommend that residents in flood zones in 10 counties and 194 communities throughout the state consider raising their homes anywhere between one and five feet on average, FEMA officials said Friday. The maps, part of the agency’s Advisory Base Flood Elevations, are being published online Saturday morning and will likely be used by communities to help establish standards during the rebuilding process following the destruction of Hurricane Sandy. Although the data used in the storm does not…
S. Bar
10:06 am on Thursday, May 9, 2013
GET US MONEY???? Thought you said you don't feel bad for us and to fix up our homes or sell them. Which one is it? CRAZY more ›