Flood Insurace Creeping Up (insurance, house, law)

[Pragmaticus]

So, I got my renewal the other day and my flood insurance went up a whooping 33% to $800/year. For us still manageable but I wonder the broader impact.

The letter also mentioned a host of reasons including the law that passed two or so year ago even though that law was suspended from fully implemented.

Anyone getting renewal notice that is up?

[dothetwist]

Ours went up just under 13%

[ilikepizza]

It's your primary home?

[dothetwist]

In my case, yes it's primary home.

[Restrain]

Premium fee if second home, rates are being pushed up. The revisions to the law just did away with sticker shock, didn't stop hikes. Also having to pay for Sandy claims so the rates reflect recovery.

[Pragmaticus]

Originally Posted by Pragmaticus

So, I got my renewal the other day and my flood insurance went up a whooping 33% to $800/year. For us still manageable but I wonder the broader impact.

The letter also mentioned a host of reasons including the law that passed two or so year ago even though that law was suspended from fully implemented.

Anyone getting renewal notice that is up?

I renewed my flood insurance and was pleasantly surprised to get a refund of 15% decrease in premium. They said it is because of FEMA update. Anybody else's flood insurance going down?

[dothetwist]

Mine went away! Well, it went from $1200 a year, to the minimum of $400 (450 with fees I think).

We challenged FEMA and got a LOMA, Letter Of Map Amendment.

It is FREE to do and you can do it online.

Our property was 90% in X (non flood) and 10% in AE. But their rules are, any part of property in AE you pay that higher rate.

But if you challenge them, they'll move you to X zone rates.

Frankly it's another example of a government scam....they could have easily seen where my house is compared to THEIR arbitrary flood line. But they won't, unless YOU make an appeal.

They also refunded the past 2 years' premiums, less the $400 minimum for X zone.

[071402]

Originally Posted by dothetwist

Mine went away! Well, it went from $1200 a year, to the minimum of $400 (450 with fees I think).

We challenged FEMA and got a LOMA, Letter Of Map Amendment.

It is FREE to do and you can do it online.

Our property was 90% in X (non flood) and 10% in AE. But their rules are, any part of property in AE you pay that higher rate.

But if you challenge them, they'll move you to X zone rates.

Frankly it's another example of a government scam....they could have easily seen where my house is compared to THEIR arbitrary flood line. But they won't, unless YOU make an appeal.

They also refunded the past 2 years' premiums, less the $400 minimum for X zone.

Are you doing that on line on the Fema site? Kudos, good 4 you btw.

[dothetwist]

Yes online. But I had a lot of back-and-forth over the phone with them. And my insurance company locally who IMO screwed it up to begin with (though they won't admit that and were absolutely NO help in resolving it).

https://www.fema.gov/letter-map-amen...d-fill-process