• Post last modified:October 5, 2020
  • Post category:Insurance

Unfortunately,the aftermath of Superstorm Sandy and her effects are still being felt throughout the east coast.  Now yes, the storm itself was over nine months ago, but homeowners in these states who were hit by the storm directly and received massive amounts of damage will probably be feeling some effects from another direction- homeowners insurance.

If you live along the shoreline of Connecticut, or anywhere along the hardest hit zones in New York or New Jersey will more than likely witness some changes to their policy when it comes to renewal time.  It’s such events Super storm Sandy that have people whose lives were most devastated by the storm deciding whether to take on the change in their home policy (at a significant increase), buildup to new housing codes required by the government (which isn’t cheap either),or give it up all together and move to another area.

This story isa perfect example of what we’re referring to:

  A man’s home was badly damaged by the storm last year, and the location of his home in New Jersey has not been placed in a “high velocity” zone- meaning he’s at the highest risk. Because of this, the man needs to elevate his home upwards of 14 feet on stilts, or pay in the range of $30,000 a year for flood insurance.  The fact that he’s weighing his options just goes to show you how expensive it must be to elevate a home like that.  Unfortunately, this double-edged sword isso pricey that the man is contemplating moving altogether. And really, can you blame him?

Now while this story is only about one man, and his home, the same situation is being faced by thousands of homeowners whose lives were turned upside down by last year’s mega storm.  Luckily, most of us here in Stafford Springs  were unscathed, but that doesn’t mean we aren’t going to be hit by one this year(hopefully not, but we’re just saying).  Having the best home and flood coverage should be at the top of your list for home expenses every year- don’t ever let it fall by the wayside.