Flood Insurance Was About to Get a Whole Lot More Expensive, but That’s Been Delayed – Miami Herald
Article Synopsis – FEMA has decided to delay its new flood insurance rate structure- that could drastically raise rates for those in flood prone areas- for another year after pressure from Congress. “The last time the National Flood Insurance Program (NFIP) changed its rate structure to reflect the real risk of flooding, rates in some areas increased tenfold”. It was so disastrous that the changes had to be reversed two years later. To read the actual article click here.