02/22/2023
Flood Insurance Required - Citizens - new State Law requires all Citizens policy holders to have Flood Insurance (SB 2-A: Property Insurance) or face non renewal OR EVEN GET INSURED!. As many homes older than 2002 face a daunting task of finding ANY carrier outside Citizens, due largely to year of construction, this additional requirement (if you are not in Flood zones X B or C) constitutes millions of policies that will have to pay more to insure home, I applaud the claim reform aspects of this law, but instead of getting more carriers in this great State of ours, this law now imposes a heavier financial load on many and this means you. In example, you own a condo on the 10th floor and you are in Flood Zone AE or AO, you have to have flood insurance, the only foreseeable flood event would be a tidal wave of such magnitude that most of the SE USA would be gone, How does this impact your home or condo? How does one sell property and the insurance costs are too high stopping the sale? How does one meet financials to mortgage a home or condo? reach out to your professional organizations or elected officials and demand reform ! Jeff