After Florence floods, the uninsured awaken to painful reality
Posted: September 19, 2018
HOPE MILLS, N.C. (Reuters) - Flood insurance was far from Stephanie Walker’s mind in 2015 when she moved her family into a home in Fayetteville in central North Carolina, nearly 200 miles (320 km) from the coast. The next year, a creek at the end of her street swelled during Hurricane Matthew, sending several feet of water into her living room. Without flood insurance, the...
Think You're Not at Risk of Flooding? Think Again.
Posted: August 30, 2018
What you need to know about flood insurance. People tend to underestimate their flooding risk, says Lynne McChristian, a consultant with the Insurance Information Institute, a nonprofit group. Ninety percent of all natural disasters—especially hurricanes—include some form of flooding, and roughly 20 percent of claims processed by the National Flood Insurance Program (NFIP) are from areas considered at low or moderate risk of flooding (when...
Hurricane season bears down — with 7 million homes at risk and a flood insurance program set to expire
Posted: June 4, 2018
The final tallies for the 2017 hurricanes aren’t in yet. If the start of summer has you trying to reason with hurricane season, you’re not alone. Millions of homes across the U.S. sit in harm’s way, and the resulting damage could be in the trillions of dollars, according to a report out Thursday. Those estimates come from real-estate data provider CoreLogic, and are based on...
7 questions to ask before renewing your homeowner’s insurance
Posted: May 16, 2018
If you own a house, homeowner’s insurance is a necessity. Not only do you need it to protect your home and possessions against damage and theft, your mortgage lender will also require that you carry it. But it’s not enough to simply have coverage, you need to have the right coverage. David Miller, vice president client executive for Plexus Private Client Solutions says a good...
Why buying a house today is so much harder than in 1950
Posted: April 11, 2018
A postwar boom, legal discrimination, and new mortgage loans made suburban housing accessible, and set the stage for today’s challenging market. To understand just how un-affordable owning a home can be in American cities today, look at the case of a teacher in San Francisco seeking his or her first house. Educators in the City by the Bay earn a median salary of $72,340. But,...
