Many homeowners who suffered losses because of flooding from
Hurricane Sandy are likely to find themselves out of luck. Standard
homeowners policies don’t cover flooding damage, and the vast majority
of homeowners don’t have flood insurance.
Yet it’s likely that many Northeasterners will purchase it in coming
months, hoping they’ll be covered the next time around, at a cost
averaging around $600 a year. Read more..
(ref: Insurance Journal, Oct 31, 2012)
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