In cases where multiple buildings exist on a property involving a mortgage from an FDIC-backed lender each building should be considered by the flood determination. Here’s how we provide that information.

If there’s one thing homeowners and real estate professionals need to understand about the new Risk Rating 2.0 pricing methodology for calculating flood insurance it’s that flood insurance requirements and flood insurance rates are two separate things, and RR2.0 affects rating, not requirement.

Get a clear breakdown of the different FEMA Flood Zones and how they are clearly designated on our Flood Zone Determination Reports.

Risk Rating 2.0 is set to go into effect on October 1, 2021 for new flood insurance policyholders and April 1, 2022, for renewal of existing policies, making a direct impact on flood insurance premiums and causing those involved in real estate transactions to have inevitable concerns and questions.

From our perspective, it’s important that real estate agents, buyers, sellers, and current homeowners understand the difference between requirement and rate, and know that RR2.0 is only a change to the…