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

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“Potential homebuyers need to know if Congress is (also) rejecting the rates that have been put out there,” Dubov said, warning the specter of high flood rates will continue to put a chill on real.

Jeff Brandes, R-St. Petersburg. alarmed by the impact of a new federal law that is driving up flood premiums for many homeowners. The law took effect Oct. 1, prompting fears that it could hurt the.

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If you have a mortgage, your lender will require you to purchase flood insurance for your home when it is located in a high risk flood zone. Unlike low-risk areas, properties in high risk zones do not have standardized rates, and every property will have different cost.

Because of changes to the National Flood Insurance Program, the couple’s insurance bill will jump 614 percent, from $914 a year to $6,500 a year. "We knew living on the island comes with added.

Flood Insurance in Saint Petersburg on See reviews, photos, directions, phone numbers and more for the best Flood Insurance in Saint Petersburg, FL.

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Governor Rick Scott Demands Immediate Action from President Obama to Fix Unfair Flood Insurance Rate Hikes Flanked by local leaders, as well as Florida realtors and homeowners, Governor Rick Scott today called on President Obama to fix the unfair National Flood Insurance Program (NFIP) rate hike.

An Overview of the National Flood Insurance Program Last week, the U.S. Senate took action on a bill that would help coastal homeowners – especially those in Southwest Florida – combat high flood insurance premiums and passed the homeowner flood insurance Affordability Act of 2013.