Homeowners in New Jersey won’t have to pay the state an extra fee to rebuild their houses after a fire or flood.
The state’s Council on Affordable Housing proposed an exemption. The council had come under fire for approving regulations in June that considered a burned-down home like a demolition that would require the fee.
The exemption is going to help one family right away.
The Ferraros of Franklin Borough in Sussex County lost their in March due an electrical fire. Under the rules approved in June, they or the town would have had to pay $17,500.
The Ferraros told the Star-Ledger of Newark that work is under way on their house and they hope to be moved back in by Thanksgiving.
___
Information from: The Star-Ledger, http://www.nj.com/starledger
Was this article valuable?
Here are more articles you may enjoy.
What Home Age Actually Tells Us About Claims — And What It Doesn’t 
Workers at Kentucky Candle Plant Not Limited to Comp Claims: Appellate Court 
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
CSU Lowers Atlantic Hurricane Forecast to ‘Well Below Normal’ 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.