There are people being somewhat ambushed with the release of the new flood maps. That said, people who thought they were ok now are finding out that they are either in or below elevation requirements. The kicker is that some people were told one thing and then the Federal Goverment came back and said it's now even higher!
The bright spot is that the Mass House has approved a bill where they would calculate flood premiums off of your remaining mortgage balance as opposed to the actual replacement costs. Its off to the House next and hopefully will be approved! For more information click here.
If you have questions about flood insurance or any insurance needs that you may have you can reach out to Keith O'Connell at OIG by clicking here.
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