Flood Insurance

By now I know you have heard more than you thought you ever wanted to know about flood insurance.

FI.1

There is good news: Congresswoman Waters,  ranking member of the House Financial Services Committee, has come up with a solution, bipartisan, to fix NFIP and affordably.  Basically, there is a four year delay to the program and requires that FEMA study the affordability aspect and address those issues.

NFIP        Screen shot 2013-11-04 at 5.24.15 AM

This is the best news we have had in the last few weeks – what with insurance premiums skyrocketing for many homeowners.  This solution is far-reaching and Congresswoman Waters is urging the Legislature move on this as soon as possible.

So hopefully, our representatives in Congress will look to afford some relief to the unintended consequences of the Biggert-Waters Act.

More updates as they are released.

Until Next Monday…

Monday Mornings With Matey

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This entry was posted in 2013 Treasurer, 2014 Vice President, Flood Insurance and tagged , , , , . Bookmark the permalink.

2 Responses to Flood Insurance

  1. David H. Brewer says:

    Good Morning Matey,

    Thank you for this notice.

    Many of us who do not live on the coast are not very sympathetic and have believed for a long time that those who choose to live close to the water should be paying their own way instead of expecting those of us who live in the interior to subsidize their lifestyle. This applies to all insurance, not just flood insurance.

    My regards,

    David

    David H. Brewer, Realtor

    Brewer, Sahm & Webb, Inc.

    Realtors & Appraisers

    1620 Wallace Avenue

    Bartow, Florida 33830

    O# 863-534-1774

    C# 863-944-7197

    F#…866-713-3005

    David.BrewerSahmWebb@verizon.net

    • Matey Veissi says:

      As always thanks for your comments. From what I learned Florida pays almost half of the premiums for flood and only get back 4%. Most of the flood problems are not in the states bordering water or occur from hurricanes but in land locked states and the flooding in man made for example levees, or waters diverted via army corps of engineers. Etc. So our state is paying a big portion of the dollars for insurance claims…seems a little unfair. As my sons say…oh well…not a good answer. Matey

      Sent from my iPad, Matey H. Veissi,CRS,CIPS 2013 Florida Realtors Treasurer Veissi & Associates,Inc.Realtors ofc 305-665-9299

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