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Insurance problems and cures

Archive for March 2010

What claims have you seen from Northeast storms?

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GBW Insurance topped out with about 2% of our clients reporting claims on Flood Insurance, Homeowners Insurance for wind/falling branches damage, or Homeowners Insurance for backup of sewers and drains (water up through the sump pump for example). What have you seen?

Written by gbwinsurance

March 31, 2010 at 11:25 am

Flood Insurance – Feds let it lapse again – You can’t get it

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Congress let the National Flood Program lapse, again. But this time they went on break and did not fix the problem. So the servicing insurance companies can not issue new policies. Good luck until April 14, which is the earliest that Congress can act. If you want advice, give us a call at 1-800-548-2329.

USGS Flood Gauges

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If you want to watch the rising waters, because here we go again, here’s the site for New Jersey rivers.  Our agency has seen about 2% of our clients with claims from the last storm (actually more wind damage than flood or back-up of sewers and drains).

Written by gbwinsurance

March 22, 2010 at 7:37 pm

Will FEMA help homeowners with water in the basement?

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Someone searched that question. Basic answer, no. If you are in a Federal disaster area, you may qualify for loans (Note LOANS) to deal with damage. But you need flood insurance or backup of sewers & drains insurance (depending on the circumstances) to be paid for the damage. And start with a pump, which is very unlikely to come from FEMA.

A flood, according to the NFIP, is surface water affecting two or more acres or two or more contiguous properties.  At the moment, most of the Northeast qualifies.

Here’s the direct quote from FEMA/NFIP:


  • A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder’s property) from:
    –Overflow of inland or tidal waters; or
    –Unusual and rapid accumulation or runoff of surface waters from any source; or
  • Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.

For questions call GBW Insurance at 1-800-548-2329

Written by gbwinsurance

March 18, 2010 at 7:50 pm

Claims starting to come in from bad weather weekend

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Well, the mighty Rockaway River seems to have crested at a few feet above flood stage so it’s off to work. The automated systems say three client claims were reported Sunday, which means many more today. Insurance carriers have been notified and we’ll be there.

Written by gbwinsurance

March 15, 2010 at 6:02 am

Flood watching – USGS Data Gauges

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For you flood watchers, here’s the United States Geological Survey web site for real-time water gauges in New Jersey.
Click on a dot to find the data for that location. As an example, the Passaic River near Chatham, NJ jumped from 12 feet on March 12th, to 16 feet on March 13th.

Written by gbwinsurance

March 14, 2010 at 9:42 am

Flood Insurance takes 30 days to go into effect

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With heavy rain coming for the Northeast, landing on saturated or snow covered ground, it is too late to buy a National Flood Insurance Program policy for this month if you don’t have one now.  If you’d like to buy one, it takes 30 days to go into effect (unless you have a closing date to meet). 

For homes and commercial buildings, you may be able to buy coverage for back-up of sewers and drains, which can provide coverage for some forms of ground water coming into your building.

Give us a call with any questions.  And good luck out there.  1-800-548-2329