Hurricanes + Oil + Homeowner’s Insurance

If you live in the gulf, please check this link out regarding hurricanes and oil damage. FEMA is saying that the oil will most likely flood homes along with the water, but if you’ve got flood insurance you should be covered. I really wonder how that’s all going to shake out when it’s time to make the claims. Here’s the link: http://www.wjhg.com/home/headlines/98142719.html

Unfortunately, if this new storm does come ashore, it’s too late for those that haven’t purchased flood insurance, as FEMA has a 30 day waiting period. This is a good story from the Property Insurance Coverage law blog, even tho it was written a few weeks ago, it talks about property insurance and the threat of oil from a hurricane.

http://www.propertyinsurancecoveragelaw.com/2010/06/articles/insurance/oil-and-hurricanes-here-comes-the-one-two-punch/

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