Flood Insurance Changes in 2017
The House of Representatives has passed an extension to the Flood Insurance Policy which was tenuous at best. It is extended for 5 years now but with 
some telling changes. Really would like to read this bill in its entirety but the gist of it is, because FEMA (Federal Emergency Management Agency) is over $40 billion in debt from past disasters, to remove the government as much as possible from the insurance business.
What does this mean as the sea levels rise significantly? Costlier insurance for homeowners in a flood zone, those who are required to carry flood insurance with having a mortgage on their property, and some properties will be uninsurable. Is this the right way to go? It is the way we are going at the present time and I hope the National Association of Realtors is watching this one closely.
Living in a minor flood zone myself I take a keen interest in the changes but are quite aware of what climate is doing to our rise in sea levels. First hand, I have seen elevation certificates from 20 years ago compared to the base flood elevation currently on the same properties and see the rise in hard facts.
Read more here: https://www.housingwire.com/articles/41817-house-passes-long-term-reauthorization-of-national-flood-insurance-program?eid=311691869&bid=1926781
Flood Insurance Changes in 2017
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