Ballooning flood insurance premiums have caught many coastal homeowners off-guard as the cost of their escrowed mortgage payments are steadily increasing. Fortunately for Florida residents, there are now several alternatives.
NFIP vs. Private Flood Insurance
There have been a large number of inquiries recently regarding the differences between the National Flood Insurance Program (NFIP) and the various private flood Insurance options that have surfaced as of late. After the announcement of the Biggert-Waters Flood Insurance Reform Act of 2012, an assortment of different private insurance companies began to enter the…