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Flood Insurance Changes are on the horizon! 

Flood Insurance Changes are on the horizon!    March 2021 update 


The flood insurance market is undergoing a variety of changes.  We are watching this closely and will continue to keep you updated as we know more.  Below is a quick summary of current changes and trends. Ossipee Home, many homes lie in the flood zone

- Flood Insurance was historically only available through FEMA.  Private Flood Insurance Carriers have now emerged and can offer competitive quotes and options.  Mortgage companies are now required to accept Private Flood Insurance.  In the past they could require coverage be placed through FEMA which was often more expensive.

- FEMA is planning to review zoning, flood maps, and premiums.  FEMA feels that flood insurance is underpriced and this review could result in changes that require flood insurance in areas not previously required and overall increased flood premiums. They are targeting October 2021 for this change.

- NH has accepted the most recent update to the FEMA flood maps on January 29, 2021.  This is resulting in immediate changes to NH real estate and many properties are either being required to carrier flood insurance for the first time or being moved into a higher rated zone.

Below are a few articles that go into these topics in more detail. 

Let me know if you have questions or want to discuss any of this in more detail.
Flood Insurance Myths    

Fema Flood Map Portal 

Nick Aube, CIC | Director of Risk Management
Avery Insurance
Office: 603-766-3733

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