The Atlantic Hurricane Season is from June through November. The Town of Ocean City closely monitors all tropical storms and stays in touch with the National Weather Service during any pending storms. Hurricane Watches and Hurricane Warnings are issued by the National Hurricane Center in Miami. A WATCH is issued for an area that could…
As a homeowner, it’s essential to understand what types of hurricane damage are covered by your homeowners insurance policy and what additional endorsements or policies you should consider to ensure that you’re adequately protected. Types of Hurricane Damage Covered by Homeowners Insurance Policies Most homeowners insurance policies provide some financial protection against damage caused by…
According to the Federal Emergency Management Agency, floods are one of the most common natural disasters in the United States. Even small streams, gullies, creeks, culverts, dry stream beds or low-lying ground that appear harmless in dry weather can flood. What’s more, it only takes an inch or two of water to cause major damage…
New rates for all properties insured through the National Flood Insurance Program (NFIP) will go into effect nationwide on October 1, 2021. FEMA is pairing state-of-the-art technology with NFIP’s mapping data to establish a new risk-informed rating plan—Risk Rating 2.0, the largest change to the program in 50 years. Risk Rating 2.0 uses the latest…
The Federal Emergency Management Agency (FEMA) announced that it will be updating the National Flood Insurance Program (NFIP) pricing methodology through a new risk rating system. This system—which is being referred to as “Risk Rating 2.0”—will leverage additional information and variables to help communicate policyholders’ flood risks more clearly, as well as deliver more accurate…
No home or business is completely safe from potential flooding. Flood insurance can be the difference between recovering and being financially devastated. Whether you’re in an area that has a low or high risk of flooding, you should buy flood insurance if you own or rent property. The National Flood Insurance Program (NFIP) defines flooding…
Coastal communities in the U.S. continued to see record-setting high-tide flooding last year, forcing their residents and visitors to deal with flooded shorelines, streets and basements — a trend that is expected to continue into 2021. NOAA’s 2019 State of High-Tide Flooding and 2020 Outlook reports that evidence of a rapid increase in sea level…
Flood News The National Flood Insurance Program has been authorized through Sept. 30, 2020. At that time, we expect another short-term extension. As of April 1, 2020, the National Flood Insurance Program will have the following changes: Rate increases on average of 9.9% The Reserve Fund Assessment will increase from 15% to 18% per policy…
Congress must periodically renew the NFIP’s statutory authority to operate. On December 20, 2019, the President signed legislation passed by Congress that extends the National Flood Insurance Program’s (NFIP’s) authorization to September 30, 2020. Congress must now reauthorize the NFIP by no later than 11:59 pm on September 30, 2020. FEMA and Congress have never failed…
Changes Coming To The National Flood Insurance Program Will Increase Pricing For Our Region, But Acting Today Can Help Alleviate The Burden. Great news! You now have more time to review your flood insurance policies. Risk Rating 2.0 will not go into effect until 2021. Give us a call today! Living near water—enjoying the recreation…
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Deeley Insurance Group
You are about the leave our site and submit the information to pay your bill. A licensed agent from our team will need to process your payment to make it official – we cannot bind coverage via web request. Let us get to work for you. Want to talk? Call us. 410-213-5600
Client Support Team
SCD Intermediaries
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