Christie Administration Asks FEMA To Give New Jersey Residents And Businesses A 6-Month Extension To File Flood Claims Related To Superstorm Sandy

photo by Art Gallagher

TRENTON –The Christie Administration today urged the Federal Emergency Management Agency (FEMA) to grant New Jersey residents and businesses who suffered property damage or destruction in Superstorm Sandy an additional six-month extension to file a complete flood insurance claim, or proof of loss, in connection with the storm. The Administration is asking that the filing deadline be extended from April 28, 2014 to October 28, 2014.

“Superstorm Sandy was the worst natural disaster to strike New Jersey in a generation, and the process of rebuilding has been expensive and complicated. Homeowners and business owners simply need more time to file their final flood insurance claims,” said Governor Christie. “Many property owners have begun to rebuild only to find there was more damage than they originally thought. This extension would give New Jersey residents the vital extra time they need to successfully navigate the flood claims filing process and restore and rebuild their properties.”

A proof of loss is a form used by the policyholder to support the amount they are claiming under the policy, which must then be signed, sworn and submitted to the insurance company with proper supporting documentation. An extension of the filing deadline would give homeowners and business owners additional time to evaluate newly discovered damages and costs, obtain proper documentation, and submit detailed information in a supplemental proof of loss.

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Menendez calls for hearings into post-Sandy flood insurance ‘low-balling’

Menendez calls for hearings into post-Sandy flood insurance ‘low-balling’ (via NJ.com)

MIDDLETOWN – Constituents have told Sen. Robert Menendez that the National Flood Insurance Program is feast or famine – high premiums feast on Jersey Shore residents, while low payouts force tough decisions on homeowners affected by Hurricane Sandy…

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House Passes ‘Homeowner Flood Insurance Affordability Act’

Bill would reform National Flood Insurance Program, aims to protect homeowners from steep insurance hikes

Congressman Chris Smith and Monmouth County Shaun Golden prepare to survey Hurricane Sandy damage

WASHINGTON, D.C. – The House of Representatives voted last night to provide relief to hundreds of thousands of homeowners facing huge flood insurance premium rate increases, including many still recovering from the devastation caused by Superstorm Sandy. Congressman Chris Smith (NJ-04), who represents severely damaged areas in southern Monmouth and northern Ocean Counties, praised the vote.

“The bill makes targeted and necessary reforms and will prevent massive premium increases from hitting homeowners who simply cannot afford them—and cannot find a buyer to take them on, leaving them stranded and without a solution,” Smith said.  “Many cannot afford the recommended mitigation measures that may or may not reduce their premiums, creating a further environment of uncertainty. Accordingly, the Homeowner Flood Insurance Affordability Act slows the rate of increase that was included in the 2012 Biggert-Waters reform bill, allowing homeowners to remain in their homes and plan accordingly to continue flood insurance policies.”

The bill passed in a 309-91 vote. If enacted the bill will provide relief and stability to these homeowners and their communities while bringing reform to the National Flood Insurance Program (NFIP).  It also provides a mechanism for enhanced community participation in the flood mapping process and increases transparency by making information publicly available to impacted parties.

The Homeowner Flood Insurance Affordability Act (HR 3370), co-sponsored by Smith, remedies many of the unintended consequences of the so-called Biggert-Waters Act of 2012. It repeals certain rate increases on Pre-Flood Insurance Rate Map (Pre-FIRM) properties and restores Grandfathered Rates for Post-FIRM properties that were built to code at the time of construction. It prevents a property sale from triggering rate increases and refunds those who have already faced one.

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