Monday, October 14, 2024

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Tag: Flood Insurance

DANGER AHEAD? A police officer directs traffic away from River Street in West Warwick during widespread flooding in April 2010 while firefighters evacuate residents. Following flood insurance rate changes in October, about 10% of homeowners in the state have dropped their coverage. 
PBN FILE PHOTO

Homeowners urged to revisit flood insurance following new FEMA rate formula

A fully paid-off home may seem to be a symbol of financial stability. And in many ways, it’s undoubtedly a vital safety net. “It’s wealth...

Report: Some residents drop flood insurance after FEMA rate hikes

PROVIDENCE – About 1 in 10 Rhode Island residents have dropped their flood insurance since December due to the Federal Emergency Management Agency's new...
WORTH THE RISK? Even Mark A. Male, executive vice president of the Independent Insurance Agents of Rhode Island, sometimes finds himself wondering if he should pay for flood coverage on his South Kingstown house that isn’t in a high-risk area. / PBN PHOTO/ELIZABETH GRAHAM

Study: More R.I. properties face greater flood risk

Mark A. Male’s South Kingstown home is at minimal risk of flooding, at least according to the Federal Emergency Management Agency’s flood plain maps. Even...
FEMA WILL tie insurance premiums through the National Flood Insurance Program to the actual flood risk facing individual homes nationwide starting in October 2020. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT

Climate advocates cheer Trump policy shift on flood insurance

NEW YORK - Climate advocates say an overhaul of the nation’s flood insurance program being unveiled by the Trump administration will spur communities around...
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The Birdhouse
70 Beacon Hill Road
Newport 
Price: $9,000,000
Date sold: July 30, 2018
Buyers: Judith S. and Jerry Sheindlin
Seller: Dorrance H. Hamilton Revocable Trust
Broker: Gustave White Sotheby’s International Realty (buyers and seller)
Year built: 2012
Bathrooms: 6 full, 2 half
Bedrooms: 6
Living space: 14,912 square feet
Previous price: Originally listed for $10,900,000. 
HOLDING COURT: Judy Sheindlin, of the syndicated TV show “Judge Judy,” and her husband, Jerry, purchased The Birdhouse at 70 Beacon Hill Road in Newport for $9 million last July, making it the most expensive home sale in Rhode Island in 2018.
 / COURTESY MICHAEL OSEAN

Despite multi-factor challenges, high-end home sales continue to grow in Rhode...

Despite the up-and-mostly down nature of the stock market in 2018, Rhode Island’s luxury real estate market showed no signs of slowing down. And...
RIGHT FIT: Sarah Lassor and Howard Thorp, of Thorp & Trainer Insurance, are on a deck on Atlantic Avenue in the Misquamicut section of Westerly. Thorp says private flood insurance isn’t right for ­everyone.
 / PBN PHOTO/
BRIAN MCDONALD

Read the fine print on private flood insurance

The flood-insurance market for Rhode Island has opened up in recent years, with more private options now available. But before businesses and homeowners try...
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