Quick Guide: April 2015 Changes to Flood Insurance Rates

How April 2015 Congressional Changes Will Affect Your Flood Premiums

Quick Guide: April 2015 Changes to Flood Insurance Rates

flood insurance rates

Flood Insurance rates are changing.


The National Flood Insurance Program is in the process of implementing Congressionally mandated reforms required by the Homeowner Flood Insurance Affordability Act of 2014.


The new law slows some of the increases in flood insurance rates and offers relief to some policyholders who experienced steep flood insurance premium increases in 2013 and early 2014.

Flood insurance rates and other charges will be revised for new or existing policies beginning on April 1, 2015. In addition to insurance rates, other changes resulting from Biggert-Waters and HFIAA will be implemented that will affect the total amount a policyholder pays for a flood insurance policy. Highlights of some of those changes follow in the link below.


The changes taking place in April include an increase in the Reserve Fund Assessment, the implementation of an annual surcharge on all new and renewed policies, an additional deductible option, an increase in the Federal Policy Fee, and rate increases for most policies.


For more information on how the April 2015 program changes will affect Flood Insurance Rates, please review this fact sheet provided by FEMA.gov.




Talk to your Wells Insurance agent for a review of your home to see how your property may be affected by the Congressionally-mandated reforms, and how you may be able to mitigate those changes. You can reach us at 800-849-1921 or by our Contact form on this website.

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  1. Tim O'Brien
    March 15, 2015 10:26 Reply

    This is a phenomenal blog and a great resource to those you serve!

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