NFIP Gives Short Notice To Prove Your Home Is Your Primary Residence
By Ryan McCarthy, Florida Keys Keynoter, (Marathon, Fla.) | |
McClatchy-Tribune Information Services |
But it's too much too fast, according Fair Insurance Rates in Monroe President
The Affordability Act is aimed at providing relief from crippling NFIP rate hikes that occurred due to the 2012 Biggert-Waters Flood Insurance Act. But the
In what Carruthers called "intimidating" letters (how many were sent out isn't known), the NFIP tells Keys homeowners they have 30 days to prove their homes are their primary residences, not second homes.
"It's not enough time. The one I saw, the letter was dated on
According to the Flood Insurance Affordability Act, owners of "pre-firm" houses -- those built prior to
That could be capped at
But the owners of second homes and commercial properties are subject to 25 percent annual increases, with no cap until they reach whatever actuarial rate NFIP uses.
In addition to there apparently being a problem with the 30-day response window, many primary Keys residents still spend several months at another residence and could be out of town when their notice comes in.
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Monroe County Legislative Affairs and Grants Acquisition Director
"I didn't make too much of it. I followed the instructions and went over and dropped my license off to my broker," Tennyson said.
The only problem was when her bill came in, it had risen by 28 percent, from $$2,610 to
Tennyson knows the bill inside and out, so she called her NFIP subcontractor,
"That's what I worry about, too, is people are going to think, 'I gave my license, this must be my rate,' " she said.
Once the problem was fixed, Tennyson's new rate was
"To me, that's really problematic because I would have assumed that was my new rate. I think it's important that people be extremely vigilant," Tennyson said.
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