Just wanted to give a heads up in case anyone is unaware. FEMA has implemented a new assessment model for homes in flood zones. In short, new considerations are made to flood risk and the new determinations come with an increase or decrease in NFIP costs. New policies started following this on 10/1, renewals will see the impact in April. I am not aware of any tool you can check your homes rating against at this time to prepare for changes. The increase cap annually is still set to 18% so that is the most you can expect an NFIP rate to increase first year. Contact your insurance agent for more information or the FEMA site has an explanation and breakdown which is fairly easy to understand.
Submitted October 26, 2021 at 11:50AM by Fukface_Von_Clwnstik https://ift.tt/3nsLgKJ
