Bad news for homeowners with a flood insurance policy—for the majority of homeowners in flood zones, rates are more than likely going to go up when the policy renewal time comes around. Starting October 1, 2021, the Federal Emergency Management Agency (FEMA) switched to a new risk rating system colloquially known as “Risk Rating 2.0” which changes how risk is assessed to homeowners. Previously risk was dependent on …
The post Analyzing FEMA’s Flood Insurance Revisions appeared first on DSNews.
Source: DS News