Ginny's RI House Hunt Blog

House Passes an Extension to National Flood Insurance Policy

Flood Insurance Changes in 2017

 

The House of Representatives has passed an extension to the Flood Insurance Policy which was tenuous at best.  It is extended for 5 years now but with RI beaches flood zonessome telling changes.  Really would like to read this bill in its entirety but the gist of it is, because FEMA (Federal Emergency Management Agency) is over $40 billion in debt from past disasters, to remove the government as much as possible from the insurance business.

 

What does this mean as the sea levels rise significantly?  Costlier insurance for homeowners in a flood zone, those who are required to carry flood insurance with having a mortgage on their property, and some properties will be uninsurable.  Is this the right way to go?  It is the way we are going at the present time and I hope the National Association of Realtors is watching this one closely.

 

Living in a minor flood zone myself I take a keen interest in the changes but are quite aware of what climate is doing to our rise in sea levels.  First hand, I have seen elevation certificates from 20 years ago compared to the base flood elevation currently on the same properties and see the rise in hard facts.

 

Read more here:  https://www.housingwire.com/articles/41817-house-passes-long-term-reauthorization-of-national-flood-insurance-program?eid=311691869&bid=1926781

Flood Insurance Changes in 2017

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Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  When you are in need of a knowledgeable North Kingstown RI real estate specialist for your buying, selling or relocating needs and a savvy marketer who sells RI houses in this real estate market, call Ginny Gorman at 401.529.7849 or email her at RiByTheBay@gmail.com today

This blog © and its contents is original to Ginny Lacey Gorman

the RI waterfront Realtor of Choice

 

Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate   

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ...  I sell dreams!  Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.

 

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Comment balloon 6 commentsGinny Gorman • November 15 2017 09:38PM
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