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Numerous Homeowners Dropped Flood Insurance

Hurricane Dorian has come and gone, yet some recent news reveals something potentially alarming. According to an analysis, over thirty percent of homeowners in the storm’s path had chosen to cancel their flood insurance policy. Had the storm continued on its original path, this may have resulted in tens of thousands of people along the southeastern coast being at risk.

Hurricane Dorian may not have caused much damage in Florida yet it wreaked major havoc in the Bahamas and lots of flooding in the Carolinas. Going without a flood policy means that homeowners would have had to find other means of paying for the repairs if Dorian had done more damage. This could have meant paying for repairs out of their pockets, seeking limited taxpayer-funded federal disaster relief, or applying for a low-interest disaster loan.

Remember that hurricane season remains in effect until the end of November. While we’re all hoping there won’t be another Hurricane Dorian on the horizon, remember that Mother Nature is incredibly unpredictable.

To read more, visit https://e360.yale.edu/digest/one-third-of-homeowners-in-hurricane-dorians-path-dropped-their-flood-insurance-in-recent-years.

This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys or an insurance lawyer Miami and receive a free consultation We look forward to working with you.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.