The Federal Emergency Management Agency (FEMA) is rolling out Phase II (RENEWALS) of their new method for determining premiums in the National Flood Insurance Program (NFIP). they claim will be more equitable regarding the property's actual flood risk, promising that 96 percent of current policyholders will see either an immediate decrease or no more than $20 increase in their monthly premiums.
The new system was applied to new policies beginning in October 2021 and will now be applied to renewals in April 2022.
SCROLL DOWN TO VIEW UPCOMING PHASE II WEBINARS
LEARN MORE ON FEMA.GOV
Download FEMA Risk Rating 2.0 info sheet
Download FEMA South Carolina Risk Rating 2.0 info sheet
Download FEMA Simple Guide for Single Family Homes
Gives easy access to Risk Rating 2.0 info needed when completing NFIP app
View Risk Rating 2.0 FAQs on Selective website
Risk Rating 2.0: Equity in Action Webinars
Phase II - Renewals
Presented by the National Flood Insurance Program
The free webinar will cover:
-
Necessary rating variables for renewal policies
-
Mitigation discounts available to a policyholder
-
Annual increase cap discount
- Provisional rates
- Changes to the lapse in coverage rule
REGISTER NOW:
Weds., May 11, 11 am - Noon Eastern
Thurs., May 19, 11 am - Noon Eastern
Thurs., May 26, 11 am - Noon Eastern