Kauai Real Estate - New Flood Insurance Act for Hawaii

Reblogger Julie A. Black
Real Estate Broker/Owner with KAUAI DREAMS REALTY Kauai Real Property Specialist RB-14203

This is not just for Hawaii but the entire nation.  

Search all Kauai Homes, Search the Kauai MLS , Search Kauai Property, Search Kauai real estate at www.kauaidreams.com

All available properties with Kauai MLS numbers can be plugged into my website at www.kauaidreams.com for more info and pictures. Or feel free to call 808 652-6174 or email me at julie@hisemail.net with any questions you might have or an appointment to see these properties. Aloha Julie.

Original content by Kela Caspillo RS-75011

Biggert-Waters Flood Insurance Reform Act 2012

Buyers and home owners beware of rising flood insurance rates. The US has experienced a lot of costal damage from Hurricane Katrina, Rita & Super storm Sandy and now the National Flood Insurance Program (NFIP) is in debt. Changes are being made through the Biggert-Waters Flood Insurance Act 2012 (BW-12) and these changes include flood insurance, flood hazard mapping, grants and management of flood plains.

What this means for Kauai properties

Premium changes & map changes. In other words premiums are going up and guidelines are getting stricter. There is so much information on this act that its difficult to summarize. The Federal Emergency Management Agency (FEMA) did not come out with their map changes for all Pre-FIRM buildings. Pre-FIRM meaning a structure built before 11/4/1981.

To get an idea of how serious this topic is view this story >>> Haleiwa Oahu, Hawaii News Now

- This young couple on Oahu bought a home for the first time. When they made the purchase their annual flood insurance rate was $2,700. Now their annual flood insurance rate is $23,000 !!%#*^&*^%#$! That is why I’m posting this blog I hope this doesn’t happen again to another first time home buyer in Hawaii.

 alimanu1 aliomanu 2

Homes on Aliomanu beach that I got to see yesterday.

 This new reform act can be confusing it’s important to get informed if you are living near water. If you already own a home on Kauai or if you plan to build a home on Kauai be sure your Realtor is aware of this act.

Helpful Links:

Biggert-Waters Flood Insurance Reform Act

FEMA BW-12 Informational webpage - www.fema.gov/bw12

Official website of the NFIP - www.floodsmart.gov

Flood Insurance Rate Maps

FEMA Map Service Center - www.msc.fema.gov

Hawaii Flood Hazard Assessment Tool - www.hawaiinfip.org

 

 

Kela Caspillo (s) Realtor Sales Person with Kauai Dreams Realty

 

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Location:
Hawaii Kauai County
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kauai real estate
hawaii flood insurance
kauai flood zones

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Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I've seen these numbers. Many community try to fight this increase. I hope, they will be successful in keeping their old rates. Otherwise, a lot of people will need to move out.

Jan 12, 2014 04:37 PM #1
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Rainmaker
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Julie A. Black

CLHMS, CRS, GRI, Realtor, Broker
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