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ALERT: FEMA Issues 6-Month Extension for Filing Sandy-Related Flood Insurance Paperwork

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New Deadline for Filing Sandy-Related Flood Insurance Documents Is April 28, 2014.

We are pleased to share that the Federal Emergency Management Agency (FEMA) has announced a 6-month extension to file paperwork for Super-storm Sandy-related flood insurance claims.

The change pushes the filing deadline from later this month to April 28, 2014.

The official memorandum from the National Flood Insurance Program announcing the change can be found here:

FEMA Issues 6-Month Extension for Filing Sandy-Related Flood Insurance Paperwork

Additional background information on the deadline extension can be found in this Wall Street Journal article:

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Electrical fire a risk for buildings flooded in Sandy – press of AtlanticCity.com: Atlantic County News

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Attached is a very interesting article from the Press of Atlantic City.
http://www.pressofatlanticcity.com/news/

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Report Here: Your Sandy Storm, Home and Flood Insurance Claim Experience

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flood-public adjusterI’d like to use this blog to compile & share actual experiences in the coming weeks and months. Please let us know the extent of your damage, what sort of adjuster came out to take a look at it and how was your experience with your adjuster. How long is it taking to get a full or partial estimate or settlement offer from your insurance company? Are you negotiating? Or are you using a public adjuster or a lawyer to represent you? Did you get a big check quickly? Are you thrilled with the result or not so much? Anything else you would care to share or spout off about?

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Flood Insurance

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“Flooding is defined by the National Flood Insurance Program as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or two or more properties (at least one of which is your property) from: Overflow of inland waters, unusual and rapid accumulation or runoff of surface waters from any source, and mudflows.

This can be brought on by landslides, a hurricane, earthquakes, or other natural disasters that influence flooding, but while a homeowner may, for example, have earthquake coverage, that coverage may not cover floods as a result of earthquakes.

Very few insurers in the US provide flood insurance coverage due to the hazard of flood typically being confined to a few areas. As a result, it is an unacceptable risk due to the inability to spread the risk to a wide enough population in order to absorb the potential catastrophic nature of the hazard. In response to this, the federal government created the National Flood Insurance Program in 1968.

Individuals who are eligible and who have mortgages on their homes are required by law to purchase a separate flood insurance policy through a private primary flood insurance company or through an insurance company that acts as a distributor for the National Flood Insurance Program (NFIP). “

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