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In breaking news that will surprise no one in Houston, flood premiums under the National Flood Insurance Program (NFIP) have increased, effective January 1st, 2019. The table above shows the new rates in flood zone X; premiums in other zones will vary.
The increases are in fact remarkably small, considering the huge losses incurred by the NFIP after Hurricane Harvey; the top-level X-zone policy has gone up from $450 to $480, a rise of just $30 per year. Flood insurance premiums are set by the government and are the same no matter which agent you go to, or which flood carrier you use.
For more information about flood insurance, give your friendly agent at Memorial Insurance a call today!