There are major changes taking place in the National Flood Insurance Program (NFIP) effective October 1, 2012. We are publishing this in advance so you may be aware of the changes.
You will see an increase in premium on your flood policy renewal. The severity depends on the zone into which your policy falls. Higher deductibles, up to $5,000, area available & may be a way to offset the rate increase for some. Below we have outlined the various zones & the general expectations for each:
X Flood Zones:?Preferred Risks: 3% and Standard Risks: 5%
A Flood Zones: Post-FIRM (built after 1974) A1-A30 & AE Zones: 2%
Pre-FIRM (built before 1974) AE Zones: 9%
V Flood Zones: Post-FIRM (built after 1974) V Zones: 8%
Pre-FIRM (built before 1974) V Zones: 10%
The above percentages outlined apply to primary residences. One of NFIP?s objectives during these changes will be to stop subsidizing rates for ?non-primary? homes. It is possible that ?non-primary? homes will see higher rate increases than primary homes in the same flood zone & location.
The NFIP is a federal program serviced by private insurance companies. If rated correctly, all policies should have the same rates?whether written through our agency or another.?
Please call with any questions!
Charleston?843.763.7525
Pawleys Island?843.235.3383
Greenville?864.288.7010
?
Source: http://aiasc.com/2012/09/changes-in-the-national-flood-insurance-program/
bachelor pad bachelor pad FedEx Green Coffee Bean Extract the voice oakland raiders september 11
0 comments:
Post a Comment