HOBOKEN, N.J. (AP) — Irene Sobolov believes the first floor of her house is just that. The federal government and her insurance company say it’s a basement.The semantics, Sobolov has learned, are very expensive.Sobolov and others whose lower-level apartments or businesses sustained water damage during Superstorm Sandy say the property they own is being classified as a basement, severely limiting what is covered under the National Flood Insurance Program.
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