Earlier this week, the House Financial Services Committee heard testimony on the draft Flood Insurance Reform bills introduced last month.  It is clear from watching the proceedings, that many lawmakers don’t fully understand how the NFIP works, and many believe that it is simply a case of poorer people subsidizing the rich folks who live in coastal communities.  Many people who own property in Monroe County may have their legal residence in a non-coastal state.  Take the time to reach out to your lawmakers and explain how the cost of flood insurance affects you. Coastal properties are not the only ones that experience flooding.  Twenty percent of all flood claims come from outside the flood hazard zones; however, these “low risk area” properties represent only 6% of NFIP policies.

This article from the  gives a good objective summary of the issues being discussed.  Read article here: GOP leaders on flood insurance bill see bipartisan measure – CQ Roll Call

Pin It on Pinterest

Share This