How Will the New Flood Insurance Bill Impact You? – St. Petersburg, FL Real Estate Blog

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Flood Zones Tampa. All property owners in flood zones will be affected. The new premium rates are meant to reflect a property’s true flood risk, and the federal government will no longer subsidize flood insurance. businesses and homes purchased after the passage of the Biggert-Waters Act will see premiums increase immediately.

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At its peak in 2005, insurance covered 57% of new municipal bond issues. Over the 30-year period, municipalities saved $496 million on their interest bills by paying for insurance, since for much.

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Flood Insurance Changes Could Drown Housing Markets Share this post: A new federal law that is intended to overhaul the nation’s flood insurance system could have devastating effects on homeowners, homebuilders and others in the housing industry in coastal and flood-risk areas.

Homeowners face flood insurance crisis in Pinellas Co. Submitted by Kathryn. comes the need for flood insurance. New insurance rates are coming in October and the Elstons will go from paying $1,500 a year to more than $12,000.. WTSP-TV / WTSP, 11450 Gandy Blvd, St. Petersburg, FL 33702.

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