Flood Insurance Costs Vastly Underrated by FEMA, New Report Says
At a Glance A new report takes into account the cost of damage.FEMA doesn't currently factor that in to flood insurance premiums.The fee structure for the federal flood insurance program is set to change this year. Hundreds of thousands of homeowners across the U.S. would pay considerably more in federal subsidized flood insurance if rates accurately reflected the risk, according to a new report from research group First Street Foundation. The report comes at the same time the Federal Emergency...