FEMA Rate Hike Socks 87% of Hawaii Flood Insurance Policyholders
3.8 Million Homeowners Will Pay More for Flood Insurance Under New NFIP Rules
Over 10,000 homeowners each in Florida, Texas, Louisiana, New Jersey and New York will face the highest price increases, ValuePenguin.com finds
NEW YORK, April 22, 2021 — The Federal Emergency Management Agency (FEMA) is taking steps to more effectively assess the flood risk that homeowners face. The agency’s National Flood Insurance Program (NFIP) recently released new flood insurance rating procedures that are meant to equitably distribute the cost of insurance for potential flood damage based on the risk a property faces.
