Are You Prepared to Evacuate in an Emergency?

If there comes a time when you have to abandon your house, an emergency probably won’t give you enough time to gather essentials and take steps to limit property damage. Getting all of your ducks in a row before disaster strikes is the best course of action.

How to Get Ready Now

Evacuations in the U.S. are more common than most people realize, according to FEMA. Natural disasters aside, people are forced to leave their homes hundreds of time a year because of transportation and industrial accidents.

Here’s a list of things you can prepare now in case your home is ever in harm’s way:

• Have a grab-and-go kit. Include essential supplies, such as water, food, and first-aid supplies.
• Have copies of important papers. Keep these in a plastic, waterproof case. FYI, this stuff is priceless, because you may need to prove who you are and that you own your house. Include:

• Your driver’s license.
• The deed to your house.
• Proof of insurance.
• Medical records.
• Passports.
• Social security cards.
• A list of personal contacts.
• Safeguard pets. Make sure they’re micro-chipped and have I.D. collars. Create pet grab-and-go kits that include leashes, medications, meal bowls, and three days worth of food and water.
• Prep your yard. Maintain your trees and shrubs so diseased or weakened branches won’t fall down and damage your property.
• Know your utility shutoffs. Learn now how to safely shut off all utility services in your home. FEMA has tips for shutting off electricity, water, and gas. Note: To turn off gas you may need a special wrench.
• Stockpile sandbag materials. If you live in a flood prone area, keep sandbags on hand or the materials to make them. It takes 100 sandbags to create a 1-foot-tall wall that’s 20 feet long. If you’re filling bags on the fly, two adults can create the wall in about an hour.
• Protect windows. If you live in an area susceptible to hurricanes, install shutters that are rated to provide protection from windblown debris.

When It’s Time to Evacuate
Before you pick up and go (and if you have enough time) follow these steps — they’re designed to protect your pets and help prevent property damage:

• Clear your yard. Remove any objects hanging on trees or your home’s exterior, such as birdhouses and wind chimes — they can break off in high winds and cause serious damage. Bring inside anything that’s not nailed down including lawn furniture, trashcans, toys, and garden equipment.

• Shut off utilities. Turn off electricity, water, and gas. Doing so will help prevent additional dangers including flooding, fire, and explosions. Keep in mind, you’re going to need the utility company to turn your gas back on when you return home.

• Windproof windows and doors. If you don’t have storm-proof shutters, fit plywood coverings over all windows. (FYI, using just tape on windows is not recommended because it will not stop windows from breaking, just shattering.)

• Protect indoor stuff. Move valuables to higher levels in your home to prevent water damage. As an extra measure, wrap electronics and furniture in sheets, blankets, or plastic drop cloths.

• Gather up pets. If it’s not safe for you to stay, it’s not safe for Fido. Make plans to stay with friends or at a pet-friendly hotel — most emergency shelters will only accept service animals that assist people with disabilities.

• Lock your house. Because crooks and looters take advantage of evacuations, lock all doors and windows and don’t leave house keys in an obvious place, such as a mailbox.

Important Stuff to Remember
Whether the order is voluntary or mandatory, if officials in your area tell you to evacuate, you should do so before things get worse. Although laws vary from area to area, you may receive a hefty fine or face a jail sentence if you don’t follow a mandatory evacuation order.
Failure to follow an evacuation order can place your life in danger by leaving you stranded in an area with no basic services or food and water.
When you return home after an emergency, don’t use matches, lighters, or any sources of flame or spark until you’re 100% certain that you don’t have a natural gas leak inside your home — you’ll need a gas company service technician to confirm that it’s safe.

Stay Informed with Emergency Alerts
Smartphone technology has made it easier to receive disaster alerts free of charge. You’ll automatically receive alerts if you have a phone capable of receiving Wireless Emergency Alerts (WEA) and your wireless carrier participates in the program. To find out if your mobile device is capable of receiving WEA alerts, contact your mobile device carrier or visit CTIA - The Wireless Association

Source: HouseLogic.com - Are You Prepared to Evacuate in an Emergency? by Deirde Sullivan
Read more: http://www.houselogic.com/home-advice/emergency-preparedness/home-evacuation-checklist/#ixzz2ng2QKVia

Flood Insurance Rate Uncertainty

Realtors® and homeowners across the country have been reporting significant increases in annual premium rates before NFIP rate changes took effect on October 1; this is raising concerns among consumers and Realtors® about decreased property values and a stalled housing market recovery.

Ed Connor, FEMA deputy associate administrator, Insurance, Federal Insurance and Mitigation Administration, said Congress took action to reform the NFIP and make it financially sound following several devastating storms.

“The last two major storms, Hurricane Katrina in 2005 and Hurricane Sandy in 2012 were the costliest storms in U.S. history,” Connor said. “Last year, the NFIP was forced to borrow money from Treasury; program debt is now $24 billion dollars.”

Flood insurance rates are dependent on risk levels, property type and location. Under the Biggert-Waters Flood Insurance Reform Act, rate increases for older primary residences go into effect when the policy lapses, the property is sold or a new policy is purchased.

Rates for commercial properties and non-primary residences are increasing by 25 percent per year until premiums reach the full actuarial cost. Changes to flood insurance rate maps in some communities may also affect the timing of increases, and some could go into effect immediately.

“This isn’t going to affect property owners in every state to the same degree,” said Thomas Hayes, FEMA chief actuary, Federal Insurance and Mitigation Administration. “There are going to be some counties that are harder hit than others; it’s going to depend on the location of the property and several other factors.”

Panelists told attendees that under the Biggert-Waters Flood Insurance Reform Act of 2012, homeowners could save $75,000 or more over 10 years if they build three feet above base flood elevation. Panelists also encouraged policy holders to talk to an insurance agent about their options and to obtain an elevation certificate.

NAR is a strong supporter of the NFIP and believes it is critically important to Americans and the nation’s economy since it increases the number of self-insured properties and reduces the cost of post-flood disaster governmental assistance. However, due to the unprecedented scope of premium increases, NAR recommends that FEMA take interim measures to ensure that the NFIP continues on a path towards financial solvency and actuarial responsibility without damaging the real estate recovery.
                             
In addition to delaying future premium increases until FEMA submits its affordability study, NAR recommends that FEMA issue proposed regulations for installment payments and appeals reimbursement; and that FEMA work to improve and publicize the Community Rating System program, which encourages community floodplain management activities that exceed NFIP’s minimum requirements, and rewards participating communities with lower premiums.

Other NAR recommendations include streamlining and improving the process for obtaining property elevation certificates, and improving and publicizing information and education resources for consumers, real estate agents, lenders, and insurers, among others.

NAR also calls on FEMA to convene a summit about the impact of premium increases on property owners. At the summit, industry experts could develop valuable recommendations for how FEMA could minimize the impact of future premium increases, strategize ways to help property owners and communities lower their rates, and discuss ways the real estate industry can partner with FEMA on those efforts.

Source:The National Association of Realtors®

Update on the National Flood Insurance Program

Changes are coming to the critically important National Flood Insurance Program that could impact real estate transactions and property owners across the country. That’s according to experts from the Federal Emergency Management Agency (FEMA), which manages the government’s flood insurance program, who spoke to REALTORS® at the Flood Insurance 101 session during the REALTORS® Midyear Legislative Meetings & Trade Expo.

Kristin Robinson, senior advisor, summarized last year’s Biggert-Waters Flood Insurance Reform Act, which reauthorized the critically important NFIP through 2017 so property owners would have access flood to insurance.

The National Association of REALTORS® strongly supported the legislation and believes the government’s insurance program saves taxpayers property and money because it increases the number of self-insured properties and reduces the cost of post-flood disaster governmental assistance.
The NFIP is responsible for writing and renewing flood insurance policies for more than 5.6 million home and business owners in more than 21,000 communities nationwide where flood insurance is required for a mortgage.

Before Congress passed the legislation, the program operated under short-term extensions. In the past five years, there were 18 extensions and several lapses in program coverage, delaying or cancelling thousands of real estate transactions daily according to NAR’s own research, wreaking havoc on real estate markets. Robinson said the NFIP is $24 billion in debt following several disastrous storms in recent years since the costs and consequences of flooding continue to increase. “For decades the program has made flood insurance available at subsidized rates that did not reflect the true risk of flooding; artificially low rates and discounts are no longer sustainable,” she said.

Andy Neal, actuary, addressed the gradual phase-out of subsidized rates, which was included in last year’s legislation to preserve the flood insurance program and critically important property insurance coverage for the nation’s homeowners. Neal said rate subsidies are being phased out over the next several years to help increase the NFIP’s soundness and financial stability.

The majority of policyholders, more than 80 percent, are not subsidized and won’t be impacted by subsidized rate changes since they are already paying full actuarial rates, he said. However, these owners could see routine annual rate increases.

“Only about 20 percent of NFIP policies receive subsidies, mostly older structures built before the community’s first flood insurance rate map was issued, which are known as pre-FIRM properties. Some of these policyholders will be impacted by the gradual phase-out of subsidized rates; an even smaller number will see immediate changes to their insurance policy rates,” said Neal.

Rate changes are likely to affect owners of subsidized pre-FIRM non-primary residences, business properties, and properties that have experienced severe repetitive flood losses. Owners of some pre-FIRM condos and multi-family units will also see their rates gradually increase. Owners of pre-FIRM primary residences will retain their subsidies unless the policy lapses; it suffers a severe, repeated flood loss; or it’s sold to a new owner, which is retroactive to July 6, 2012, when the legislation was enacted. Some grandfathered principal residences will also lose their subsidies over a several year period, but not until the communities’ flood map is revised.

Neal recommended that home and property owners talk to their insurance agent to determine if their property is currently being subsidized. He said flood insurance rates vary based on a property’s location, elevation and flood risk and can be as low as a few hundred dollars up to $10,000 or more if the property is well below flood level and had severe repeated flood losses.

While higher rates may place a greater burden on families, there are investments homeowners can make to either reduce or better access their flood risk so they can continue to protect their families and possessions from damaging floods. According to Neal, homeowners can lower their risk by elevating their property and potentially reduce their flood insurance rates by having an elevation certificate completed to determine the property’s elevation relative to the base flood elevation. Elevation certificates can cost several hundred dollars to complete but could potentially lower homeowners’ flood insurance premiums.

Some homeowners with flood insurance policies have already received quotes for higher rates, which may be caused by several other factors such as improvements to mapping. As FEMA improves its mapping technology and draws more accurate flood maps, some homes may now be located in a flood zone, or a higher risk zone, where flood insurance is more expensive. Also, some insurance agents may adjust rates to correct previous mistakes made about the home’s features when they are re-evaluating an insurance policy at renewal.

Source:Realtor.org