FEMA flood insurance rates could spike for some, new study shows
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FEMA flood insurance rates could spike for some, new study shows
desmoinesregister.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from desmoinesregister.com Daily Mail and Mail on Sunday newspapers.
REDINGTON SHORES â A new law that could let homeowners do more repairs or renovations to their homes over a shorter period of time without having to meet expensive new home construction requirements was passed by the town commission on first reading at its Feb. 10 meeting.
The ordinance changes the townâs âfive-year cumulative substantial improvement rule,â which says repairs and remodeling expenses done over five years cannot exceed 49% of a homeâs total value prior to the first improvement. If so, Federal Emergency Management Agency rules relating to new home construction, such as elevating a house to protect against flooding, apply â and those can be expensive.
WBGZ Radio 2/20/2021 |
By Doug Jenkins - WBGZ Radio
You may want to prepare now for potential spring flooding, although there are no solid indications that we’re guaranteed to see it. Illinois largest disaster of 2019 was the flooding that hit more than 33 counties that spring.
While it could happen again WeatherSpotter Facilitator John Nell tells The Big Z current indicators show a more likely scenario has heavier precipitation this spring over the Ohio and Tennessee valley.
Click here for Nell s comments
Experts say it’s always a good idea to look into flood insurance, no matter where you live. Those living in communities participating in the National Flood Insurance Program can purchase federally backed flood insurance, or you can go to your private agent.