Flood Insurance Rate Increases On LBI

Dated: 09/16/2013

Views: 3413

Understanding Flood Insurance Rate Increases on Long Beach Island and the LBI Real Estate Market


Understanding Flood Insurance in the LBI Real Estate Market on Long Beach Island NJ

Flood insurance is a federal program and therefore has to adhere to federal guidelines when seeking to increase flood insurance rates. Flood insurance rates will be increasing, however these increases were actually approved in September BEFORE Hurricane Sandy had even formed in the Atlantic. These approved changes call for a 25% increase in flood insurance based on the actual elevation of your property. The LBI real estate market and the Average Flood Insurance Increase on Long Beach Island NJ will be determined by several factors including:
  • Ground elevation
  • House elevation
  • Number of flood vents
It is undoubted that flood insurance rate increases on LBI will have an impact on the LBI real estate market which is why it is so important to understand the ins and outs of the national flood insurance program. Most will be surprised to learn that the flood insurance market on Long Beach Island will be very manageable. To learn more about flood insurance rate increases on LBI please visit the following link:
http://www.buylbi.com/lbirealestate/average-flood-insurance-increase-on-long-beach-island-nj/

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