July 23, 2013
Marshfield Citizen’s Coastal Coalition getting out the word that changes in the Federal Emergency Management Agency (FEMA) flood maps could impact everyone in current flood zones that carry flood insurance and even those that don’t – but who could now be included in the new expanded flood zone maps.
Coalition chair Joe Rossi said, “There are major changes coming to the FEMA flood maps and FEMA flood insurance that will impact every single person in the flood zone that has flood insurance, or that’s not in a flood zone that may now be in one. So anyone and everyone could and will be affected by this”.
And coalition member Doris Crary warns that those required to carry flood insurance could wind up paying hefty insurance rate increases – some, upwards of 25% more.
“Increases on the low side could be $1,000 a year and if you happen to have a house, that for some reason is an extreme anomaly, we’ve heard some horror stories that people were appraised at the $50,000 range for their flood insurance premium.”
The new FEMA policy is scheduled to go into effect in October.