New Federal Flood Insurance Premiums

Took Effect 10/1/21

FBCLID 11 residents,

By now, you may or may not have noticed an increase in your Federal Flood Insurance Premium due to FEMA’s, the Federal Emergency Management Agency’s, implementation of a new method to calculate flood insurance premiums called Risk Rating 2.0. FEMA’s new Risk Rating 2.0 utilizes newer technology available to assess the flood risk of a property.

Historically, FEMA would determine the flood risk of property based on published Flood Insurance Rate Maps. The maps, or FIRMs, would show different flood factors and flood risk potential which they would use to set the rates of flood insurance. This methodology had not changed in over 50 years, but that change took effect October 1, 2021.

Your Federal Flood Insurance Premium may have increased due to FEMA’s new Risk Rating 2.0.

Stay informed! As Board members, we encourage you to contact your home insurance provider to obtain the amount of your premium for Federal Flood Insurance.

Additional information regarding Risk Rating 2.0 can be found at Risk Rating 2.0: Equity in Action |

We encourage you to visit the FEMA website and/or talk to your insurance agent as soon as possible.