Insurance Woes for North Carolina Couple Affected by Landslide
Insurance Woes for Boone Couple Affected by Landslide
In the aftermath of the devastating Hurricane Helene, a Boone couple is facing a disheartening ordeal. Their home, a cherished abode for 25 years, was reduced to rubble by a landslide triggered by the storm. To their dismay, their insurance company canceled their homeowner’s policy mere days after the disaster, leaving them without financial assistance for the exorbitant expenses they now face.
Policy Gap Exposes Vulnerabilities
The Richardsons’ homeowner’s insurance covered basic perils such as fire and theft but excluded coverage for landslides and floods. This glaring omission highlights a common pitfall for homeowners who may not fully comprehend the risks associated with their properties. According to the National Flood Insurance Program, less than one percent of homes in inland counties affected by the storm had flood insurance.
Calls for Enhanced Protection
In the wake of this unfortunate incident, Scott Richardson believes that flood insurance should be an integral part of every homeowner’s policy. He argues that the additional premium is a small price to pay for the peace of mind it offers. “For the rare one out of 10,000 who may need it, it would cover it,” he said.
North Carolina Insurance Regulator Speaks Out
North Carolina Department of Insurance Commissioner Mike Causey emphasizes the importance of flood insurance for residents in flood-prone areas. He cites the devastating impact of Hurricane Florence in 2018, where nearly 200,000 homeowners lost their homes and received no insurance compensation. Commissioner Causey is exploring comprehensive policies that would include flood coverage as a mandatory component.
Couple Faces Financial Burden
The Richardson’s home, once valued at $416,000, was insured for less than $70,000 due to their exclusion of landslide and flood coverage. The couple is now facing a daunting financial burden as they grapple with the cost of cleanup and the need to secure temporary housing.
Crowdfunding Efforts
To alleviate the financial strain, the Richardsons have launched a GoFundMe campaign to raise funds for home expenses and cleanup. They have expressed gratitude for the support they have received thus far, but still require approximately $65,000 to reach their goal.
Unbelievable Devastation
Meta Gatschenberger, Scott Richardson’s wife, is still reeling from the shock of witnessing the destruction of their home. “It’s unbelievable… Like it’s someone else’s house,” she said. The trauma of losing their cherished belongings and the uncertainty of their future casts a long shadow over their lives.