WHAT IS THE BIGGERT-WATERS FLOOD INSURANCE Reform Act of 2012
The Biggert-Waters Flood Ins act was passed in July 2012 by Congress. The act calls on FEMA (Federal Emergency Management Agency) and other agencies involved in insurance to make changes to the way the National Flood Insurance Programs works.
The most important factor of the act states that National Flood Insurance Program is to raise rates to reflect true flood risk, and figure out how to make the program more affordable. Once the changes are implemented, it will mean increase in insurance premium rates.
Its imperative that a prospective buyer and current home owner speak to an insurance agent to determine if a policy will be affected.
For more information go directly to FEMA's site reformhttp://www.fema.gov/flood-insurance-reform
or speak to a Home insurance agent...
Ainsley Daux
Florida Realty
(813)546-1954
The Short Sale Guy!!!
Tampa Bay Short Sale Guy!!!
No comments:
Post a Comment