Trixie Parkes’ 1976 wood-framed cottage was both her home and her primary source of income, as she rented out two units on the top floor to tourists. However, Hurricane Ian ripped through in late September, destroying most of the first floor and gouging a gaping hole in the walls of the second floor. She lacked… Continue reading Strong Hurricanes, Stricter Building Codes Changing Florida’s Coastal Communities
Tag: flood insurance
Hurricane Ian Exposes Flood Insurance Nightmare in Florida
Hurricane Ian’s storm surge flooded homes on Florida’s west coast, leaving mold, muck, mud, and a flood insurance nightmare for residents who want to rebuild. Many Floridians who experienced extensive flooding did not have a separate flood insurance policy to cover the storm’s damage. It has left homeowners — and even renters — with a… Continue reading Hurricane Ian Exposes Flood Insurance Nightmare in Florida
Are Historic Homes More Resilient Against Floods?
When historic homes flood, building contractors are frequently compelled by government regulations to remove the water-logged wood flooring, demolish the old plaster walls, and replace them with new, flood-resistant materials. It’s a hurried approach that’s likely to be seen throughout southwest Florida in the aftermath of Hurricane Ian. However, restorers Paige Pollard and Kerry Shackelford… Continue reading Are Historic Homes More Resilient Against Floods?
Hurricane Ian Will Significantly Impact Wind-Exposed States: MarketScout
Following Hurricane Ian, MarketScout CEO Richard Kerr stated that the storm loss event will have “significant” implications for property rates in Florida and other wind-prone states in the United States. According to MarketScout’s analysis of commercial insurance market rates during the third quarter of 2022, property rates in coastal areas are now expected to rise… Continue reading Hurricane Ian Will Significantly Impact Wind-Exposed States: MarketScout
FL Homeowners Reduced Flood Insurance Coverage Years Before Ian Hit
In the years leading up to Hurricane Ian inundating coastal and inland areas with up to 15 inches of rain, Florida homeowners had reduced their flood insurance coverage. Only a small percentage of homes in two of Florida’s hardest-hit inland counties have flood insurance. According to an analysis by Neptune Flood, a private-sector flood-insurance provider,… Continue reading FL Homeowners Reduced Flood Insurance Coverage Years Before Ian Hit
Flood Maps Are Out of Date Says FEMA
The Federal Emergency Management Agency’s flood maps are out of date and understate the risks to homes and businesses from flooding and extreme rain caused by climate change, according to FEMA Director Deanne Criswell. Flooding in Jackson, Mississippi, a week ago, overwhelmed the city’s main water treatment plant, leaving more than 150,000 state-capital region residents… Continue reading Flood Maps Are Out of Date Says FEMA
Real Estate Listings with Flood Scores Shift Home-Shopper Habits
Assume you want to sell your Cape Coral, Florida, home and believe you’ll get a good price because of its proximity to the water. Perhaps you’re considering purchasing a starter home in a newly developed Houston neighborhood. As you considered the home’s curb appeal, did you consider the property’s risk of flooding in the next… Continue reading Real Estate Listings with Flood Scores Shift Home-Shopper Habits
Floods, Other Water-Related Disasters Could Cost Global Economy $5.6 Trillion by 2050: Report
Droughts, storms, and torrential rain in some of the world’s largest economies could cost the global economy $5.6 trillion by 2050, according to a report released on Monday. Heavy rains have caused floods in China and South Korea, as well as disruptions in water and electricity supply in India, while drought has threatened farmers’ harvests… Continue reading Floods, Other Water-Related Disasters Could Cost Global Economy $5.6 Trillion by 2050: Report
Climate Change Has Increased Likelihood of a Megaflood in California
As California battles wildfires and severe drought, the threat of flooding may appear to be an unlikely cause for concern. A new study, however, warns that the state could be hit by a “megaflood” in the not-too-distant future, potentially putting millions at risk across the state. The study, published in Sciences Advances on Friday, discovered… Continue reading Climate Change Has Increased Likelihood of a Megaflood in California
Some Properties Are Getting Too Costly to Insure Amid Climate Change
As climate change threatens the United States with more natural disasters, it’s becoming more expensive for Americans to insure their homes — and the situation is only expected to worsen, according to experts. “These things are happening more frequently, and they’re causing more damage,” said Jeremy Porter, chief research officer at First Street Foundation, a… Continue reading Some Properties Are Getting Too Costly to Insure Amid Climate Change