Tag: Federal Emergency Management Agency

Flood Insurance Limits and How to Get Around Them

There are a number of things most people don’t know about flooding of flood insurance, such as flooding is the top natural disaster in the US, and that flash floods are the top weather related killer, or that 20% of all flood claims are from low and moderate risk flood zone areas (see https://wiseinsurancegroup.com/texas-floods-and-flood-insurance/). There is one other thing most people don’t know about flood insurance, and that is there are limits on how much a policy will pay on a claim.

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Flood Insurance Reform Act of 2012

In case you missed it, the Biggert-Waters Flood Reform Act of 2012 (BW-12) was passed by the U.S. Congress in July of last year. The goal of BW-12 is for the Federal Emergency Management Agency, or FEMA, and other agencies to make changes in how the National Flood Insurance Program (NFIP) is administered.

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