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Here's why Florida federal flood insurance policies are on the rise
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It's no secret, a lot of people in Florida have seen their flood insurance policies increase.
With a change at the federal level, Floridians are expected to see their federal flood insurance premiums continue to go up.
The good news, there is a cap for the rate increase. There are limits that most rate increases can't increase more than 18 percent per year. Insurance experts explained, that means those seeing increases shouldn't see an astronomical jump, but rather, increases over the next few years.
With a change at the federal level, Floridians are expected to see their federal flood insurance premiums continue to go up.
The good news, there is a cap for the rate increase. There are limits that most rate increases can't increase more than 18 percent per year. Insurance experts explained, that means those seeing increases shouldn't see an astronomical jump, but rather, increases over the next few years.
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