News
Buyouts for flood-prone housing
8+ hour, 51+ min ago (310+ words) New Jersey has a program called Blue Acres, started in 1995, which to date has used more than $234 million in federal and state funds to pay fair market value to purchase homes in flood-prone areas. The properties are returned to permanent…...
Why home insurance is unaffordable, even in places without wildfires or hurricanes
2+ mon, 2+ week ago (1310+ words) The storm blew into Cozad, Neb., in the wee hours of Saturday, June 29, 2024. The wind felt like a hurricane. The hail was the size of softballs. "I was in the window, I was crying," remembers Soledad Avalos, who has lived…...
It's harder to get home insurance. That's changing communities across the U.S.
2+ mon, 3+ week ago (1479+ words) Home insurance is getting more expensive in the United States, and insurers are pulling back from some regions as the cost of disasters grows. That trend is stretching the limits of what ordinary Americans can afford to protect their homes....
Flood risk is widespread in the U.S. Few people have insurance for it
6+ mon, 2+ week ago (598+ words) Nearly every county in the United States has experienced flooding in the past few decades, but just 4% of homeowners nationwide have flood insurance, according to the Federal Emergency Management Agency. It's what experts call the flood insurance gap. Most homeowners…...