2017 Flood Insurance Rates

 On April 1, 2017, National Flood Insurance Program rates are set to rise an average of 6 percent. This is less than the 2016 average andconsistent with the annual 5-10% increases prior to 2012 Biggert-Waters reforms.

Under 2014 Affordability amendments, individual property owners may see a rate increase up to 18% for newer properties and 25% for olderones. Rates for newly mapped properties begin at the lowest or preferred risk rate and gradually increase to full risk using a multiplier tablewhich is also updated as part of the April 1 changes.

Read FEMA'S Summary 

View FEMA flood maps


How can REALTORS® Help? 

REALTORS® can assist consumers in flood prone areas by participating in the National Flood insurance program's Community Rating System (CRS) program. Particulary 340 Hazard Disclosure activities. The CRS program is a voluntary component of NFIP which allows communities to receive discounts for all policy holders based on taking steps above and beyond simply being part of the NFIP. The CRS is a "win-win" program because it reduces a community's vulnerability to floods while reducing the cost of flood insurance premiums for all policy holders in that jurisdiction.The CRS uses a Class rating system that is similar to fire insurance rating to determine flood insurance premium reductions for residents. CRS Classes* are rated from 9 to 1. Today, most communities enter the program at a CRS Class 9 or Class 8 rating, which entitles residents in Special Flood Hazard Areas (SFHAs) to a 5 percent discount on their flood insurance premiums for a Class 9 or a 10 percent discount for Class 8. As a community engages in additional mitigation activities, its residents become eligible for increased NFIP policy premium discounts. Each CRS Class improvement produces a 5 percent greater discount on flood insurance premiums.

 View 340 Hazard Disclosure activities  

View a Hazard Disclosure Sample