Big Changes to NFIP

Posted on: October 9th, 2013 by Leslie_Zucker

Big changes are afoot for the National Flood Insurance Program (NFIP). Starting on October 1 of this year, all new flood insurance policies and all policies that have lapsed and then reinstated will move to actuarial rates that fully reflect the risk of living in the flood zone. In addition, owners of these properties will be required to obtain an Elevation Certificate. Policies for primary residences that were established prior to July 6, 2012 (date the Biggert-Waters Flood Insurance Reform Act of 2012 was enacted) may continue to be renewed using the subsidized rate until the property is either sold to a new owner, or the policy lapses.

For specifics about how the Biggert-Waters Act might affect your property, please contact your insurance agent. For general questions related to the Biggert-Waters Act and flood insurance, visit the FEMA website at