Since last November, I’ve been trying the new program to see if rates would be better. However, in every case the rates are much higher. One of my customers has had flood insurance for over 20 years, no claims, only three feet of their property is in a zone A but, with the new Equity 2.0 their premium will more than triple. Nobody at NFIP tell me why. Their data is flawed. It is as though it ignores that the creek behind their home had major flood prevention drainage work done to it about 15 years ago.
Since last November, I’ve been trying the new program to see if rates would be better. However, in every case the rates are much higher. One of my customers has had flood insurance for over 20 years, no claims, only three feet of their property is in a zone A but, with the new Equity 2.0 their premium will more than triple. Nobody at NFIP tell me why. Their data is flawed. It is as though it ignores that the creek behind their home had major flood prevention drainage work done to it about 15 years ago.