Helping Lower Flood Insurance Premiums for South Floridians, Ros-Lehtinen Votes for the Homeowner Flood Insurance Affordability Act

Helping Lower Flood Insurance Premiums for South Floridians, Ros-Lehtinen Votes for the Homeowner Flood Insurance Affordability Act

“I’m proud to co-sponsor and vote for this legislation that will help make flood insurance more affordable.”

Miami, Florida – March 12, 2014 – (RealEstateRama) — Congresswoman Ileana Ros-Lehtinen voted for the Homeowner Flood Insurance Affordability Act. The bill, which Ros-Lehtinen co-sponsored, will work to make flood insurance more affordable for South Floridians and nationwide. Some of the bill’s notable provisions are:

a removal of a new policy rate increase, thus new homeowners are not penalized for purchasing a home;
a reinstatement of grandfathered flood insurance rates;
a refund for those who purchased a home without full transparency from FEMA regarding flood insurance rate structure; and
many options that would help provide relief such as monthly installment payment plans, high-deductible options, and others which would help expand flood insurance coverage.

Statement by Ros-Lehtinen:

“I’m proud to co-sponsor and vote for this legislation that will help make flood insurance more affordable. South Floridians should have the peace of mind that they are able to protect themselves against a flood as a result of rain or other natural catastrophe. This bill will help South Floridians pick plans that save them money and protect their homes. This is just a small step but one which will make the difference for many of our friends and neighbors.”