A Big Mahalo to FEMA Region IX Flood Insurance Specialist, Edie Lohmann for taking time away from her busy schedule to lead a Flood Insurance Workshop here in Honolulu this past August for our local insurance agents, realtors, and lenders. Much Aloha also goes out to Hawaii Independent Insurance Agent Association (HIIA), Executive Director, Chenise... Continue Reading →
Don't let water damage rain on your parade. If you own or rent a home, here's what the Hawai'i DCCA Insurance Division says you need to know about flood risk. We’ve got plenty of both, but it’s not all sunshine and rainbows in the 50th State. There’s also rain, and flooding from a heavy downpour... Continue Reading →
According to a recent national survey sponsored by National Association of Insurance Commissioners (NAIC), 41% of Americans agree or strongly agree that flood insurance is a "good idea," yet only 17% say they have purchased flood insurance. (Federal Emergency Management Association (FEMA) estimates that only about 3% have flood protection.) One of the reasons NAIC... Continue Reading →
Only flood insurance covers flood damage. Without it, your recovery options are limited and costly. Your recovery will depend on your savings, your line of credit or the hope that a federal disaster declaration may make State/Federal disaster-related grants and/or U.S. Small Business Administration low-interest loans available.If you live in a Special Flood Hazard Area... Continue Reading →
The Community Rating System (CRS) is a voluntary incentive program that encourages communities (counties) to go above and beyond the minimum National Flood Insurance Program requirements for floodplain development and activities. Participation in the CRS is rewarded with flood insurance discounts for it’s policy holders. There are 10 CRS classes with class 10 being non... Continue Reading →
Congress must periodically renew the National Flood Insurance Program’s statutory authority to operate. On December 21, 2018, the President signed legislation passed by Congress that extends the National Flood Insurance Program’s (NFIP’s) authorization to May 31, 2019. NFIP re-authorization is an opportunity for Congress to take bold steps to reduce the complexity of the program... Continue Reading →
The answer is “YES”. Every property in Hawaii has a flood zone designation. It may not be in a high-risk flood zone (A or V zones) that would require mandatory flood insurance purchase as a condition of a federally regulated loan, but it doesn’t mean that flooding is not possible. In fact, 20% flood insurance... Continue Reading →
Oftentimes a potential buyer is looking for that certain something special when shopping for a new home or investment property. As a buyer, it is important to fully understand the financial obligation of such a huge commitment. Sometimes that commitment includes a buyer’s acceptance of the property’s increased risk from certain naturaldisasters such as being... Continue Reading →
Flood can happen anytime and anywhere. And they can happen fast. So whether you live near the water or not, you should always be ready. BE PREPARED BEFORE THE FLOOD Copy your most important documents (mortgage papers, deed, passport, bank information.) Keep copies in your home and store originals in a secure place outside the... Continue Reading →
