New Flood Insurance Timeline
Risk Rating 2.0 will be implemented in October 2021. This will cause a fundamental shift in ratings and cost. It is recommend that those who are not in the floodplain now get flood insurance before maps become effective as their rates will be honored once they are moved into the floodplain, assuming they don’t let their policy lapse.
Beginning Aug. 1, current National Flood Insurance Program policyholders can contact their insurance company or insurance agent to learn more about what Risk Rating 2.0-Equity in Action means to them.
PHASE I
New policies beginning Oct. 1, 2021, will be subject to the new rating methodology. Also beginning Oct. 1, existing policyholders eligible for renewal will be able to take advantage of immediate decreases in their premiums.
PHASE II
All remaining policies renewing on or after April 1, 2022, will be subject to the new rating methodology.