FEMA'S RISK RATING 2.0 Flood Insurance

Real Estate Agent with Coldwell Banker Schmitt Real Estate

FEMA'S RISK RATING 2.0 Flood Insurance 

Ashkarian/Ardis Team



The flood insurance rates are changing as of October 1 this year. We had an article about this in our last newsletter, but we got a little bit more information about it. I wanted to bring that to you right away and keep you updated.

FEMA is changing its pricing method to something they call Risk Rating 2.0. It uses new modeling and data to better assess property risk nationwide. They expect some people to see a decrease in their monthly bill, around 68% of people to see a $0 to $10 increase, 8% to see $10 to $20, and 4% on average to see more than a $20 increase.

“FEMA is changing its pricing method nationwide on October 1.”

If you close on October 1 or after, your flood policy will be based on this new system. Be sure to talk to your insurance agent for more details about this.

Another option is that if the current owner has a flood insurance policy, it might be possible to take up that policy. Usually, this just involves a little bit of paperwork, but flood insurance has always been one of the few insurance policies you could actually pick up from the previous owner. 

Again, make sure you speak with your insurance agent to get more details on all of this. If you’re looking to buy, sell, or even if you just have some questions, give us a call or check out our home search. We’d love to help. 

Ashkarian/Ardis Team

Coldwell Banker Schmitt


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Lela Ashkarian, PA, CRS, GRI, e-PRO

Coldwell Banker Schmitt Real Estate

International President's Circle

11050 Overseas Highway

Marathon, Fl 33050



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