The aftermath of hurricane sandy is more money than any
individual could dream of having. The total price tag Gov Andrew Cuomo’s of New
York said has exceeded 42 billion. 33 to repair damaged housing and
infrastructure and 9 billion to help protect transit systems the power network
and sewage treatment facilities from future storms. This is just damage in the
state of new York. Rising costs in the state of New Jersey has reached 29
billion. This is what a strong storm can do to an area of high density. Financial
companies, insurance companies, families and the US budget will all suffer
because of the effects of sandy.
The effects of Sandy meant burden to Millions of Americans.
Hundreds of thousands of flood victims face high increase in their home
insurance costs or risk losing it all. Thousands in the New York area are told
by their insurance companies that they’re not covered for damages resulting
from Hurricane Sandy. Adding that because damage to their property was done by
flooding and not by “hurricane or tropical storm”. As many of a quarter million
homeowners in flood prone areas of the city of New York and Long Island may be
in the same situation.
Even though some insurance companies are denying claims since
Sandy hit shores the Obama administration has stepped in fast and been making
sure those who need emergency housing money get it from FEMA. The purpose of
FEMA’s emergency housing money is to allow people whose homes are uninhabitable
to temporarily rent new living quarters
while waiting for insurance companies to give money to make repairs. Since
insurance companies are failing to pay damage claims, homeowners say they have
to use some of the FEMA money to pay for repairs. This is very similar to what happened in the
Gulf with Hurricane Katrina. In the end people got more funding from government
agencies that didn’t have insurance then those who did because insurance
companies made excuses to not have to pay for damages. Slogans like “All in
good hands” is one by All State insurance, might make you question them when
families with their coverage suffer great financial loss even after paying the
premium to these insurance companies monthly.
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