Fishkind Conversations: Higher flood insurance rates heading for FL homeowners
Florida homeowners: if you live on the coast, brace yourselves for the possibility of higher flood insurance rates.
FEMA is revising its National Flood Insurance Program, which relied on often-outdated maps that kept rates too low and accidentally encouraged development in flood-prone areas.
And according to the cutting-edge technology FEMA’s using now, the biggest rate increases will be in the Sunshine State. Economic analyst Dr. Hank Fishkind tells WMFE’s Nicole Darden Creston how this affects Central Florida.