09/14/2021
The National Flood Insurance Program (NFIP) estimates 77% of their policyholders will see a premium increase when Risk Rating 2.0 goes into effect this October 1st. The average increase will be nearly $100 per year, with many increases, especially in coastal areas, increasing over $1,000. Insurance agents should expect a record number of calls from insureds seeking advice due to the number of policyholders that will see an increase.
80% of Florida NFIP policyholders will see an increase
85% of Texas NFIP policyholders will see an increase
80% of New Jersey NFIP policyholders will see an increase
Yep Insurance provides access to instant flood quotes and more than 18 different alternatives depending on what part of the country you are in.