Will higher risk for flooding mean a higher pricetag?
Clip: 09/28/2021 | 4m 28s | Video has closed captioning.
Changes are coming for New Jersey flood insurance policyholders. Most notably, the cost. Starting this Friday, Oct. 1, FEMA is rolling out an update to the National Flood Insurance Program it calls Risk Rating 2.0. The plan changes the way flood insurance rates are calculated and proponents say it better reflects the real cost of flooding. But it’s also expected to come with a higher price tag.
Problems Playing Video? | Closed Captioning