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How Will the New Flood Insurance Bill Impact You? – St. Petersburg, FL Real Estate Blog

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Homeowners face flood insurance crisis in Pinellas Co. Submitted by Kathryn. comes the need for flood insurance. New insurance rates are coming in October and the Elstons will go from paying $1,500 a year to more than $12,000.. WTSP-TV / WTSP, 11450 Gandy Blvd, St. Petersburg, FL 33702.

Flood Zones Tampa. All property owners in flood zones will be affected. The new premium rates are meant to reflect a property’s true flood risk, and the federal government will no longer subsidize flood insurance. Businesses and homes purchased after the passage of the Biggert-Waters Act will see premiums increase immediately.

Real estate agents are in an ideal position to inform buyers about a property’s flood risk and if flood insurance is required. The Pinellas County Real Estate Flood Disclosure Program is a joint effort between the County and its real estate professionals, through the Pinellas Realtor Organization (PRO), which covers the entire County.

FEMA official talks flood insurance, resources available Those who’re still running into trouble with their claims can dial up the Insurance Consumer Helpline at 1-877-MY-FL-CFO to get some free help. this week praised DeSantis for signing a bill adding.

Realtors in the St. Petersburg area, which has more than 50,000 subsidized policies, have taken up a marketing pitch for homes that don’t lie in flood zones: "No flood insurance required!"

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Real estate agents warned the market could collapse.. of a 21 percent increase for her beachfront home in St. Pete Beach's Belle Vista neighborhood.. "How would you raise (flood-susceptible) Shore Acres?. and forced back into the NFIP, they may have to pay for a new, unsubsidized flood policy.

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