CBS News Money Watch Reports Harvey Scams

Scammers targeting Hurricane Harvey victims are making robocalls throughout the affected areas, warning victims that their flood insurance premiums are overdue and must be paid immediately to maintain coverage, the Federal Trade Commission is warning.

In reality, even if your premium payment was due at month’s end, the Federal Emergency Management Agency, which administers the National Flood Insurance Program, typically provides extended grace periods during natural disasters, said Loretta Worters, spokeswoman for the Insurance Information Institute. During flooding in Louisiana last year, for example, the agency extended its normal 30-day renewal grace period to 120 days for those in affected areas.  READ MORE >>>>