Many Hurricane Sandy Victims Still Waiting for Homeowners Insurance Claims to be Paid

(USGovernment-News.Com, June 07, 2013 ) Crawley, UK -- While flood damage is not typically covered by homeowners insurance policies, The National Flood Insurance Program ran by the Federal Emergency Management Agency, or FEMA, handles the claims through their private insurers, who sell the policies and hire adjusters to assess damage when claims are filed.

Charles Fine, a New York City attorney, explained that banks and insurance carriers place an array of hoops homeowners must jump through in order to have claims paid, and while the Hurricane victims are trying to recover elsewhere in their lives, they are also busy dealing with insurance claims and making sure they jump through those hoops to get the money they need to start rebuilding their lives. Fine added that banks are the biggest cause of most problems for homeowners in claims process. In order to have funds released, homeowners need cooperation from their lender and those lenders aren’t always willing to help.

For starters, just the number of claims that have piled in since Hurricane Sandy hit is causing a slowdown of the system, as someone personally needs to look at the claim and an adjuster has to come look at the damage. When there are more claims than adjusters, it can take awhile. Homeowners have been complaining to Mr. Fine that their paperwork is getting lost in the mess and they are having to resubmit everything, all while receiving conflicting information from all parties involved.

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Source: EmailWire.Com

Source: EmailWire.com