Flood insurance rates are going up

Translate this page
A flooded neighborhood seen from above

04/13/2016 | Author: Editorial Staff

Property owners who have flood insurance through the National Flood Insurance Program will see their insurance premium rates increase due to changes that took effect April 1, 2016.

The NFIP, which is administered by the Federal Emergency Management Agency, works with private insurance companies to offer flood insurance at rates that are set nationally.

Here are a few highlights of the changes:

  • Premiums, surcharges, and fees will increase.
  • Premium rates will increase an average of 9%; however, some premiums will increase as much as 25%.
  • Premium rates will vary according to where the property is located. Flood maps are being revised, so a property may be located in different NFIP zone now. Use FEMA’s Flood Map Service Center to find flood maps by address.

Read more about the April 1, 2016 changes in these documents from the NFIP, check out the National Flood Insurance Program’s website, floodsmart.gov, for a sampling of updated policy rates and other resources, and visit realtor.org to see how the National Association of REALTORS® has been following this issue. 

Categories: Governmental Affairs, Buyers, Sellers, Homeowners
Tags: governmental affairs, flood insurance, insurance, fema, nfip


Laxus on 04/15/2016

Hey man! Great post but I really wanted to just drop a comment on your blog. Your blog has a super cool design. Is this wordpress by chance?

Mira Leibwitz on 04/15/2016

So weird. I was just searching for information about this stuff and you popped up. You must be doing something right. Thanks by the way, this really answered some questions I was throwing around in the back of my mind.

Leave a Comment

Read our commenting policy

advertise with us

Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

Advice for REALTORS®

Do you know the basics of air-conditioning systems?

When and how to disclose agency

How Texas REALTORS® are preparing to lead in 2017

What you need to know about advertising rules


More advice for REALTORS®