How Will The New Flood Insurance Reform Changes Affect You

Several changes to the previously government subsidized flood insurance program will affect you.  If you are staying in your home:

  • If your flood zone is in any A or V zone, including AE, AB, AH, your flood insurance premiums will be increasing 25% per year until the premiums come in line with the actual flood insurance rates
  • If your flood zone is in B, C, or X, your premiums will increase 20% per year until the premiums match the actual flood insurance rates

If you are buying a home, the new flood rates will affect how much of a mortgage you qualify for.

If you are selling your home, have your flood elevation certificate on hand to provide it to the new buyers.

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