Just as homeowners are realizing the increased risks of going without flood coverage, the Federal Emergency Management Agency has released data showing that coverage costs are exploding for properties in coastal areas most vulnerable to flooding.
Tag: Florida flood insurance
The Cost of Insuring Expensive Waterfront Homes Is About to Skyrocket
Florida’s version of the American dream, which holds that even people of relatively modest means can aspire to live near the water, depends on a few crucial components: sugar white beaches, soft ocean breezes and federal flood insurance that is heavily subsidized. But starting Oct. 1, communities in Florida and elsewhere around the country will… Continue reading The Cost of Insuring Expensive Waterfront Homes Is About to Skyrocket
Study Finds that Floridians Are Underpaying for Flood Insurance
If you live in Florida, you should probably be paying more for flood insurance. And you likely will be soon. That first finding is the conclusion of a new analysis by First Street Foundation, a nonprofit research group focused on climate impacts on property value, which found that the majority of Floridians face a higher… Continue reading Study Finds that Floridians Are Underpaying for Flood Insurance
Florida’s Flood Disclosure Rules Leave Homebuyers in the Dark
There are few places to purchase a home in the U.S. that have a greater risk of flooding than on the coast of Florida. But sellers needn’t lose sleep over that. That’s because the Sunshine State doesn’t mandate disclosure of whether a property has previously flooded. Some 21 states have no rules requiring owners to… Continue reading Florida’s Flood Disclosure Rules Leave Homebuyers in the Dark