Seventy-two percent of Tennesseans will end up paying more money in flood insurance prices starting October 1 when the Federal Emergency Management Agency (FEMA)’s new flood insurance rules begin.
This summer, FEMA rolled out its new rating methodology called “Risk Rating 2.0.” FEMA said this new methodology will deliver rates that are “actuarily sound, equitable, easier to understand and better reflect a property’s flood risk.”
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