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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
Are your flood insurance bills pretty high? There s a new program in Monmouth County that can help soften the burden.
The Monmouth County Board of County Commissioners are launching a floodplain management software for 17 towns who are currently participating in the National Flood Insurance Program Community Rating System.
We step back into 2020 for a second here as that s when Monmouth County was awarded a $125,000 New Jersey Department of Community Affairs LEAP Challenge Grant for CRS management software and the Commissioner’s used the grant money, along with $104,000 in CARES Act funding, to acquire the Forerunner’s Floodplain Management Platform, to manage the floodplain compliance and outreach in communities.
12/23/2020
Florida Division of Emergency Management Celebrates Accomplishments in 2020
Today, Governor Ron DeSantis and the Florida Division of Emergency Management (FDEM) highlight the state of Florida s response efforts to COVID-19 taken this year, in addition to the Division supporting Floridians recovering from hurricanes while preparing for future storms and other hazards.
Governor Ron DeSantis said, The Florida Division of Emergency Management has been asked to respond to countless events this year during a record-breaking hurricane season. Not only have they stepped up for every event, but they’ve also continued to break records for hurricane reimbursements. I applaud their dedication and commitment to the state of Florida.