FEMA changes flood insurance policy from October 1st | Arizona News

FLAGSTAFF, AZ (3TV / CBS 5) – In terms of flooding, it was a disastrous year for several parts of Arizona, including places like Flagstaff and the Globe-Miami area. Monsoon storms turned entire communities into rivers in a matter of minutes.

To make matters worse, the National Flood Insurance Program expires in a few days on October 1st. Experts say that starting next month, up to 75 percent of Arizona residents with FEMA flood insurance policies will have to pay more each month to protect their homes.

Tess McDaniel has lived in Flagstaff since 2002. McDaniel saw her neighborhood change from the quiet to the flood of the museum fire.

The cost of damage in this area did not meet the federal threshold required for the declaration.

“My friend was in that fire and texted me from the fire department saying he was taking out flood insurance,” said McDaniel. “Because you could see that the drainage was coming straight through the street.”

At that time, FEMA waived the waiting time to take out flood insurance. Tess and her boyfriend have since paid about $ 600 a year for this extra protection.

“I feel a little better with the insurance,” said McDaniel. “We put so much into our house, it’s our home. People keep telling us to move, but this is our home.” However, if you arrive in October for new insurance policies and in April for existing insurance policies, this insurance could come with additional costs.

“The big change is that flood insurance used to be dependent on where you live,” said Nick VinZant, senior research analyst at QuoteWizard. “Now it will be based on where you live and the individual risk to your home from flooding.”

VinZant, who has spent the past six months analyzing FEMA’s flood insurance data, says the risk depends on everything from historical flooding to the cost of replacing your home or the surrounding land. VinZant says the overwhelming majority of the 75 percent of Arizonans who will see a price hike will find it less than $ 20 a month.

But for many, these costs can add up quickly. “Especially with COVID layoffs, I am currently looking for a job,” said McDaniel. “So it’s hard to pay for all of this. It’s sure to have an impact.”

Here is a link to view all of QuoteWizard’s flood insurance results.

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