Battered by Sandy, homeowners face insurance woes
Only people with flood insurance are covered against the kind of storm surges that cascaded through New York and New Jersey. Those with homeowners insurance alone are likely to be compensated for their losses only when the damage was caused by wind or water pouring in from the sky, rather than from ground level. "We issue a lot of news releases, and [the Federal Emergency Management Agency] spends a lot of time and money trying to inform people about flood insurance, but even still it comes as a surprise to some people that they're not covered through their homeowners policy," said Jeanne Salvatore, spokeswoman for the Insurance Information Institute. Indeed, those affected by the hurricane may find their insurance coverage befuddling. That's because whether you're covered, and exactly what is covered, varies dramatically based on what caused the loss and what was damaged.
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insurance flood insurance homeowners policy New York storm damage Federal Emergency Management Agency homeowners insurance federal flood Insurance Information Institute insurers New Jersey replacement costs insurance policy cash value Water damage insurance companies the loss the damage ground level federal program market value actual cause Hurricane Irene news releases a natural disaster silver lining Hunter Consumer Federation bad news FEMA insured sofa coastal rental tree spokeswoman Information deductible wake-up call Salvatore Breezy insures restrictive clean-up taxpayers expenses mirrors payments damagesPeople:
J. Robert Hunter
Overall Sentiment: -0.116052
Relevance: 0.340844
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| -0.239614 | "Consumers must be the first line of defense against insures shifting costs for wind losses" to the FEMA program, Hunter said. |
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Jeanne Salvatore
Overall Sentiment: 0
Relevance: 0.256221
| Sentiment | Quote |
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| 0.0230204 | "We issue a lot of news releases, and [the Federal Emergency Management Agency] spends a lot of time and money trying to inform people about flood insurance, but even still it comes as a surprise to some people that they're not covered through their homeowners policy," said Jeanne Salvatore, ... |
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Robert Hartwig
Overall Sentiment: 0.0273329
Relevance: 0.219542
Sandy
Overall Sentiment: -0.323588
Relevance: 0.200621
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Organization: Federal Emergency Management Agency
Overall Sentiment: -0.0928264
Relevance: 0.456553
Organization: Insurance Information Institute
Overall Sentiment: 0.0167697
Relevance: 0.427208
City: New York
Overall Sentiment: 0.0321396
Relevance: 0.417121
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StateOrCounty: New Jersey
Overall Sentiment: 0.0843521
Relevance: 0.393734
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Source Site: Battered by Sandy, homeowners face insurance woes
Many people affected by the storm are likely to be unpleasantly surprised by what's not covered under homeowners insurance
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- consumer federation of america
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- storm insurance
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Battered by Sandy, homeowners face insurance woes
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