This is a Florida news story, published by NBC News, that relates primarily to Helene news.
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flood insuranceNBC News
•73% Informative
The insurance industry is categorizing the storms as two separate events, meaning anyone who did not or could not document damage from Helene could face even greater odds that their claim will be denied.
Reforms enacted in Florida to encourage insurance companies to re-enter the state market have left victims with little legal recourse to challenge claims decisions.
For the vast majority of affected residents, the financial loss from the storms will be nearly total.
The National Flood Insurance Program only covers losses up to 50% of what it deems a property to be worth, not including the land that the property sits on.
Beyond that threshold, a home must be essentially rebuilt from scratch, almost entirely out of pocket, to comply with FEMA flood regulations.
Faced with denials, policyholders may be tempted to sue, but in Florida , homeowners must now essentially pay out ofpocket to initiate legal action against their insurers.
VR Score
76
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