Monday, October 21, 2013

For some Sandy victims, insurance falls short

A warning sign is seen on the door of the Superstorm Sandy damaged home of Lee Ann Newland near the Shark River in Neptune, N.J., Sunday, Oct. 13, 2013. It's been a year since Superstorm Sandy flooded the neighborhood along with much of the Jersey Shore and many homeowners have learned a horrible lesson about federal flood insurance: Don’t count on the policy to cover the cost of repairs. Many have received an insurance check in the mail, only to discover it is nowhere near large enough to cover rebuilding expenses. (AP Photo/Mel Evans)NEW YORK (AP) — Many homeowners who got slammed by Superstorm Sandy are finding their flood insurance checks are nowhere near large enough to cover their repairs, and consumer advocates put some of the blame on errors by the multitude of adjusters who were hired in a hurry after the disaster.



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