This storm was the worst New England has seen in “seven decades.” This fact was not helped by the “relatively low participation in the federal flood insurance program” of all three states hit by the storm. Among the three states “Massachusetts had a total of 44,731 policies, New Hampshire (6,692) and Maine (7396) according to federal data.” One interesting fact is “flood insurance yields greater and faster reimbursement than aid programs which largely offer low-interest loans rather than grants.”
I can’t say enough about preparedness if you live in the path of floodwaters. Flood insurance in Massachusetts’s costs on average $800 a year according to a spokesperson from Massachusetts insurance department. That breaks down to about $67 a month in peace of mind and alleviation of the financial burden of paying for flood damages.
» FEMA Makes Federal Disaster Aid Available in Massachusetts, New Hampshire & Maine from TheInsurancePolicy
Earlier this month severe storms and flooding caused damage to residents and business owners in Massachusetts, New Hampshire and Maine. The acting director of the Federal Emergency Management Agency (FEMA) R. David Paulison made federal funding a... [Read More]
Tracked on: May 26, 2006 3:36 PM | Permalink to Trackback