Post-Sandy threat: Big insurance cost surge

Written by

Katie Zezima and Meghan Barr

TOMS RIVER, N.J. — George Kasimos has almost finished repairing flood damage to his waterfront home, but his Superstorm Sandy nightmare is far from over.

Like thousands of others in the hardest-hit coastal stretches of New Jersey and New York, his life is in limbo as he waits to see if tough new coastal rebuilding rules make it just too expensive for him to stay…

The process of house-raising is laborious and prohibitively expensive, especially for working-class people who are already saddled with storm repair costs. Even a small cottage can cost $60,000 to elevate, while a sprawling multilevel home could run upwards of $250,000.

 

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http://www.delawareonline.com/viewart/20130616/BUSINESS10/306160005/Post-Sandy-threat-Big-insurance-cost-surge