Updated about 12 years ago on . Most recent reply
Flood Insurance Reform Act -- will it affect you?
I'm trying to find out if the one property I have that is required to have flood insurance will see huge rate increases soon or not. Not exactly sure how to find out, but it looks like they are re-assessing the map November 2013 in Raleigh and the changes will take effect in 2015, so I have some time to figure it out. However, it looks like investment property will phase in faster than owner occupied, and full rate is immediate upon resale, owner occupied or not. This looks like it could be a huge issue depending on the map changes.