Flood insurance refunds are on their way

flood insurance rates

FEMA is issuing $100 million in insurance refunds to homeowners throughout the US The U.S. Federal Emergency Management Agency (FEMA) is issuing some $100 million in flood insurance refunds to policyholders receiving coverage through the National Flood Insurance Program (NFIP). The agency is issuing refunds to those that have overpaid for their coverage due to the provisions of the Biggert-Waters Act, a legislation that caused a significant spike in insurance premiums over the past year. The initial wave of refunds should begin on October 1 and the last refunds are…

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Flood insurance bill is now in the President’s hands

flood insurance policies

After having cleared Congress last Thursday, Obama is now set to sign this bill to provide relief to homeowners. President Barack Obama now has the flood insurance bill in front of him, waiting to be signed, in order to provide homeowners within higher risk neighborhoods with some relief from what could have been massive increases to their coverage premiums. This legislation, when signed, will reverse a large portion of the 2012 NFIP overhaul. The changes to the National Flood Insurance Program (NFIP) had considerable support at the time that the…

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