Tag: national flood insurance program

Flood insurance costs could be stifled by new legislation

S.Vagus
flood homeowners insurance rates

Relief for rising flood insurance rates could come from Louisiana Homeowners in Louisiana may find some relief from rising flood insurance rates thanks to new legislation that has been introduced to the state. This legislation seeks to reform flood insurance in Louisiana, putting an end to the increasingly costly problem that this type of coverage has caused homeowners and businesses alike for several years. Rising rates are putting homeowners under inordinate financial strain and stifling the growth of the housing market. Federal program continues to grapple with financial problems State…

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Flood insurance hike delay strategy in the works by lawmakers

G. Turner
coastal flood homeowners insurance

A bipartisan effort to delay the rate increases by four years is trying to ensure that coverage will remain affordable. A bipartisan lawmaker group is now in the midst of an effort to delay the changes to the federal flood insurance program for another four years, as they are currently threatening to stick thousands of homeowners with hikes to their premiums that they will not be able to afford. This move has been made at a time in which the government is lining up to make a massive overhaul of…

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Flood insurance to be offered by Florida private insurers

H. Cutner
flood insurance news

Two providers in the state have decided to work to offer cheaper alternatives to residents. There are two private flood insurance companies that have appeared to offer residents of Florida some alternatives to the skyrocketing rates under the federal program that is currently the primary option in the state. These two insurers are hoping to be able to offer the coverage for less money than residents would otherwise pay. The rates that are currently offered under the National Flood Insurance Program (NFIP) are rising higher and two insurers – the…

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Flood insurance premiums spike has strangled home values

H. Cutner
flood insurance

The cost of the coverage has skyrocketed upward by seven times and is holding real estate hostage. Following the rewriting by U.S. Congress of the federal flood insurance program, the monthly premiums that are paid by over 1 million homeowners in the United States are now slated to rise considerably. The result of this increase in cost for covering the homes has had a large impact on the real estate market. Due to the higher cost of flood insurance coverage in certain large areas, which has meant that the price…

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Flood insurance rates are on the rise in the US

S.Vagus
flood insurance bill

Financial burdens increase as flood insurance costs grow Health insurance is not the only kind of coverage that is undergoing significant changes in the U.S. Flood insurance has long been a problematic issue for many homeowners throughout the country, but this type of coverage has begun to attract more attention as homeowners and businesses begin to bear a larger financial burden. Friendly Insurance of Texas suggests that flood insurance rates for homeowners will grow, regardless of whether their properties are located in flood-prone areas or not. Policies through federal program…

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