Agencies Request Comment on Proposed Private Flood Insurance Rule marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
Study: Floridians in Flood Zones Underpaying for Flood Insurance by Average of 379%
If you live in Florida, you should probably be paying more for flood insurance. And you likely will be soon.
That first finding is the conclusion of a new analysis by First Street Foundation, a nonprofit research group focused on climate impacts on property value, which found that the majority of Floridians face a higher flood risk than their insurance costs would indicate.
The second prediction comes because the National Flood Insurance Program is rolling out a new way of pricing flood insurance later this year. Experts expect it will lead to higher rates for homeowners in flood-prone places like Florida. Potentially, a lot higher in some places.
Study finds that Floridans are underpaying for flood insurance tampabay.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tampabay.com Daily Mail and Mail on Sunday newspapers.
Study finds Floridians are underpaying for flood insurance Follow Us
Question of the Day A man smokes a cigarette and video chats with a friend on his porch, the only dry spot on his street after a King Tide-related flood in Miami Beach, Fla., on Oct. 19, 2020. A new analysis by First Street . more > By ALEX HARRIS and The Miami Herald - Associated Press - Saturday, March 13, 2021
MIAMI (AP) - If you live in Florida, you should probably be paying more for flood insurance. And you likely will be soon.
That first finding is the conclusion of a new analysis by First Street Foundation, a nonprofit research group focused on climate impacts on property value, which found that the majority of Floridians face a higher flood risk than their insurance costs would indicate.
Cape Cod property owners could see huge flood insurance price hike with Risk Rating 2.0
Cape Cod Times (Hyannis, MA)
Feb. 25 YARMOUTH Coastal property owners are accustomed to getting a jolt from nature. Nor easters, the occasional hurricane, even unexpectedly big tides can mean expensive repairs or replacement of an entire structure.
In recent years, changes to the insurance policies that cover those damages led to additional sticker shock with the threat of skyrocketing rate increases.
In 2013, it was the redrawing of
Federal Emergency Management Agency flood plain maps, used to calculate risk and determine premiums for the National Flood Insurance Program, that added thousands of Cape properties to flood zones. That meant the newly added property owners with federally backed mortgages were required to purchase flood insurance, with rate increases as high as