Most of us never thought we’d have anything like Super Storm Sandy, but we did, or, Hurricane Isaias, but we had that one, too.
What’s next, no one knows, but one thing we do know is that there are changes in flood insurance that will go into effect on October 1st, 2021, for new business and Spring 2022 for renewals.
Risk Rating 2.0 represents an improvement in flood insurance for policyholders, and I’ve been busy educating myself on all of the changes so I can be a resource for Realtors and help them get up-to-speed with the changes that lie ahead. https://www.fema.gov/flood-insurance/work-with-nfip/risk-rating
Briefly, FEMA is establishing new rating methodology, and by using cutting edge technology, they will be able to establish more equitable and fair rates for policyholders. The new rates will be based on individual flood risk and home value.
Risk Rating 2.0 is a game-changer and I want to be your go-to resource so that you’ll be up-to-date and have the answers to all of the questions your buyers and sellers will ask.
Experts predict that there will be more floods as time goes on:
Realtors need to make certain that their clients are knowledgeable, and I’m looking forward to sharing information about Risk Rating 2.0 with you. Let’s schedule some time to speak.