Legislation may put a halt to rising flood insurance rates in the US

flood insurance rates

Flood insurance continues to be a worrisome issue Flood insurance has become a hot topic in the U.S. with rates on the rise and FEMA’s revising of flood maps, which could have a costly impact on homeowners throughout the country. As the cost of flood insurance continues to attract attention, finding ways to solve this problem are gaining momentum. New legislation is expected to reach the U.S. Senate next week concerning the state of the country’s flood insurance program and the Biggert-Waters Flood Insurance Reform Act of 2012. Federal law…

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Rising flood insurance rates draw ire of property owners

Flood insurance rates growing too quickly for many property owners to handle Property owners throughout the U.S. have begun banding together to oppose costly flood insurance rate hikes. Premiums on all flood insurance policies that were renewed after October 1 have grown by an average of 10%, putting more financial strain on property owners throughout the country. The majority of these policies are issued through the National Flood Insurance Program, which has been undergoing a significant overhaul over the past two years. Property owners are reaching out to the U.S.…

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