Coastal News Today | USA - A Breakdown of FEMA's New Flood Insurance Rating Procedures
Now the agency is rallying to more effectively assess homeowners' risks. FEMA's National Flood Insurance Program (NFIP) recently rolled out new flood insurance rating procedures, set to go into effect in October and meant to "equitably distribute the cost of insurance for potential flood damage based on the risk a property faces," according to a report from LendingTree and Value Penguin's data writer Andrew Hurst. Under new rules released last week, hundreds of thousands of Americans in coastal areas and other flood zones will pay much more to insure their homes. According to Hurst, before Ri...