We are well aware of the shocking price increases some properties are facing for flood insurance policies in 2014. Your HBA is working to get Congress to mitigate these changes, and we may have some windows of opportunity to raise the profile of this problem with Congress in the coming weeks.
What we need, however, are some specific examples of price increases. We are aware of plenty of anecdotal stories, as is Congress, but we lack pricing information linked to a specific property.
If you are running into problems with flood insurance, you may be able to help.
What we need: is documentation showing the current policy’s rate and the new rate. We don’t need the property owner’s name but must have the address.
Any information shared with us will be shared with congressional committee staff and, very likely, FEMA. We realize this may make some property owners uncomfortable, but there is always the possibility that FEMA will review and adjust it in light of a congressional inquiry!
It would be incredibly helpful to have some documented case examples to highlight the problem.