Flood Insurance Reform – Rates and Refunds
(This Information is provided from FEMA.gov. This post is intended to better serve the Residents of Simonton with recent updates on Flood concerns in the local area. To research more on this topic please refer to Fema.gov website)
Recent legislation restored FEMA Grandfathering Rates (definition) and repealed certain rate increases so refunds may be issued to some policyholders. The law also applied an annual surcharge for all policyholders in the amount of
$25 per year for renters and owners of primary residences and $250 per year for owners of non-primary residences and non-residential buildings. To read more click here
The Biggert-Waters Flood Insurance Reform Act of 2012: An Overview
The Biggert-Waters Flood Insurance Reform Act of 2012: What Is a Subsidized Rate?
Homeowner Flood Insurance Affordability Act (6)
To Read more click here