Overall, more than $3.69B in federal grants, disaster loans and flood insurance money has been provided to the state of Florida and its households so far.
WASHINGTON – According to the latest information released by the Federal Emergency Management Administration (FEMA), National Flood Insurance Program (NFIP) policyholders have received more than $1.2 billion so far for Hurricane Ian recovery. Since landfall, more than 46,000 policyholders have filed claims.
Including the NFIP insurance money, the state and its residents have received more than $3.69 billion in federal grants, disaster loans and flood insurance payments. FEMA says it provided $814 million to households and $401 million toward the state’s emergency response; the U.S. Small Business Administration provided $1.2 billion in disaster loans, and the National Flood Insurance Program has paid $1.25 billion in claims.
Under the flood insurance, more than $237 million was in the form of advance payments. Policyholders could receive up to $20,000 immediately after filing a claim, and over 10,000 policyholders did so.
FEMA latest estimated expected total for Hurricane Ian flood insurance claims is between $3.7 and $5.2 billion. Those losses include flood insurance claims received from five states, though the majority came from Florida.
“The $1.2 billion paid to NFIP policyholders represents our continued commitment to this critical mission and underscores the importance of purchasing flood insurance,” says FEMA Administrator Deanne Criswell. “That’s why we continue to encourage Floridians who may have let their flood insurance coverage lapse to take advantage of our extended grace period and renew their coverage today by contacting their insurance company or agent.”
In October, NFIP extended the grace period extended the grace period to renew NFIP policies from 30 days to 90 days for certain Florida policyholders in some counties. As of this week, homeowners with flood policies that expired between mid-September and October 23, 2002, can still extend their policy and receive reimbursement for flooding.
FEMA estimates that over 8,000 Florida NFIP policyholders are included in this renewal grace period but have not yet done so. Those who wish to take renew during the extended grace period for Hurricane Ian should contact their agent or insurance company. Policyholders who do not have their insurance agent or company’s contact information should call (877) 336-2627 for assistance.
To learn more about how to file a flood insurance claim visit floodsmart.gov.
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