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Hurricane Advice

Thursday, December 06, 2012 Experts: Wider Need For Flood Insurance
Long Island Newsday

Think you don't need flood insurance because you don't live near the ocean? Or because your mortgage company doesn't require it? Or because you're in a low to moderate hazard area according to the National Flood Insurance Program?

Wednesday, November 07, 2012 Insurance And Repair Issues After Sandy
Long Island Newsday



In the past, home buyers were concerned with common things like school reputations, local accommodations, home conditions and termites. Now following the devastating effects of Super Storm Sandy, lenders and buyers will need to be concerned with important issues like water damages and mold as well as flood areas and vulnerability to future storms. Perhaps instead of asking how are the schools and neighbors, prospective buyers will need to ask about the degree of damage caused by prior storms and ask to see insurance claims and adjusters’ reports following hurricanes Irene and Sandy and perhaps ask to see photographs of the home after the storms. Building elevations above sea levels and proper mold remediation and reconstruction should be paramount concerns to avoid buying a home likely to be damaged by another storm surge. Likewise, lenders may deny mortgage applications of required flood insurance and insist upon other precautions, thus making home buying even more uncertain. The devastating results of hurricanes and tropical storms will certainly have long lasting effects on the real estate market and values.