It’s too late to get flood insurance for Hurricane Irma
"People can sign up for flood insurance anytime, any day, but coverage doesn't begin for 30 days," said
After the damage caused by Hurricane Harvey, Shaw said his phone has been lighting up with customers wanting flood insurance.
"If we didn't have Harvey, we probably wouldn't have the interest we've got. ... Unfortunately it takes catastrophic loss or catastrophic events, like in
A few months ago, he recommended a homeowner living on the
Residents who don't already have homeowners or renters insurance are likely out of luck too.
"With the storm out there, now all insurance companies shut their doors," Shaw said. "They say, 'No more new business until these storms pass.'"
Often renters insurance doesn't include coverage for floods, so a separate policy would be needed, Shaw explained.
In most cases, property owners are in a flood plain, they are required to pay for flood insurance every year until their mortgage is paid off. Then it becomes the owner's choice.
"We offer flood insurance to everybody," Shaw said. "We have a lot of clients that they come to us and say, 'Well I was told by my Realtor, my mortgage company that I don't need it or that it's not required.' Our answer to that is all of
As Irma gained strength Tuesday, the trade group Florida Realtors called on state residents to urge
Nearly 40 percent of all the program's policies are in
If the program lapses, the program won't be able to issue new policies or renew existing ones. The last time this happened about 40,000 home sales a month were put on hold, according to the
"Without flood insurance, our communities are unprotected and at risk, with devastating consequences to people and their lives, homes and businesses," said Florida Realtors President
Here are a few tips for owners if their property is flooded:
* Call your insurance agent to file a claim. An adjuster will review the damage and submit an estimate to the insurance company for approval.
* Whether you have flood insurance or not, hire a water remediation company to dry out the home or business, which can help stop mold from growing and causing more damage.
If a federal emergency has been declared, property owners may be eligible to receive relief funds from the
"When there are thousands of homes damaged, like we have in
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