Higher deductibles usually kick in for hurricane damage, but a policy often includes tropical storms that have been downgraded from hurricane status.
United Property & Casualty Ins. Co. is insolvent, and the company cites higher-than-expected losses from Hurricane Ian. Fla. is taking steps to place it in receivership.
NAR’s Realtors Relief Foundation helps people after a disaster threatens their homes, including Floridians after Hurricane Ian hit Fla. last year.
Flood insurance is complicated, so FEMA created a brochure for Realtors to help them answer client questions, such as, “What is an elevation certificate?”
Of those helped, 63K followed Hurricane Ian and 4K Nicole. It comes to $5.2B in grants, disaster loans and flood insurance after Ian and $19.8M after Nicole.
Work still needs done, but anyone standing in downtown Fort Myers would be hard pressed to see damage from one of the U.S.’s most destructive hurricanes.
The state’s insurer-of-last-resort charges less, but big state programs tend to get bogged down by their own weight over time – and private insurers offer better coverage.
