Flood Nerd Blog

  1. FEMA Risk Rating 2.0 & Fees for Flood Insurance Policies

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    If you have a flood insurance policy through the National Flood Insurance Program (NFIP), you are used to paying all sorts of fees in addition to your premium. FEMA is making sweeping changes to the NFIP, but they aren’t sweeping away fees and surcharges. Fees for Flood Insurance Each policy issued by the NFIP comes with a serious case of the fees. The Federal Policy Fee is set by FEMA and can c…Read More

  2. Risk Rating 2.0 Changes to Coverage Limits

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    Big changes are coming to the National Flood Insurance Program (NFIP) with the implementation of FEMA Risk Rating 2.0. Will there be changes to the coverage limits? The answer is No and Yes. That’s because nothing is ever simple when it comes to flood insurance or government programs. And when you combine the two? Yowzah!  Here’s how FEMA 2.0 affects coverage limits.  New Maximum Limits The …Read More

  3. What Policies And Programs Does FEMA 2.0 Wash Away?

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    Like floodwaters crashing down the hillside or turning a dry creek bed into a raging river, FEMA 2.0 will completely wipe away certain flood policies and programs that are a part of the National Flood Insurance Program. What does this mean for you? Well, if you aren’t affected, it means nothing (except as a taxpayer your money might be used a little more wisely). You’re like the homeowner that…Read More

  4. FEMA Risk Rating 2.0 – What’s Changing with National Flood Insurance and Why You Should Care

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    It’s been a long time coming, but reform to the National Flood Insurance Program (NFIP) is on the way. It looks like the government is following the lead of private flood insurers and making some changes to the way they rate flood policies. That’s a good thing. The existing NFIP is broken and broke. It consistently pays out more for losses than it takes in as premiums. The Congressional Budget…Read More

  5. One Question Every Homebuyer Should Ask But Never Does

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    Buyers have so many questions about prospective homes. What school do the kids attend? How many bedrooms and what’s the square footage? When were mechanical systems like heating and air conditioning last updated? Sellers and seller’s agents provide answers. And federal and state laws require sellers to answer some questions that might not be asked.  For example, federal law requires sellers t…Read More

  6. How much should flood insurance cost?

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    Wondering About the Average Cost of Insurance? As flood experts, everyone asks us “how much should flood insurance cost?” The Flood Nerds at Better Flood  think you should pay as little as possible for good coverage. But calculating the cost of flood insurance isn’t easy. Two identical homes with identical contents can have two different premiums. That’s because flood insurance costs vary…Read More

  7. Is Lloyds of London pulling out of markets like Kentucky or Ilinois? August 13, 2020

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    The following is a call I got from two of the most fantastic FEMA representatives asking if Lloyds was pulling out of the Flood insurance markets. Spoiler Alert (they are here to stay sorry FEMA). | Lloyds of London Flood insurance  | Private Flood insurance | Alternative to FEMA flood insurance. | Alternative to NFIP Hi FLOOD NERD - Robert I trust you are well, I was reading this article in th…Read More

  8. How do I get a LOMA?

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    Shawn Ziegaus Rental Property Investor from Lake City, FL Just getting into my first rental. However the flood insurance we are having to pay is a pretty hefty payment each month. I have been looking into petitioning for removal of the requirement just solely to be able to increase monthly cash flow. If anyone has any tips on how to go go through this process or the best way to increase your o…Read More

  9. Do I need to buy flood insurance on a ground unit condo?

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    This post is from a post on bigger pockets a real estate investment site.  I worte on anwering a question about flood insruance. Flood Nerd responce to question on buying flood insurance @Aaron K. and @Claire Rosenberg all properties are in a flood zone the only differentiator with the flood zones is the "high-risk" flood zones is your lender will require flood insurance in order to get the funds…Read More