Congress votes to reduce flood insurance increases

Posted on Monday, March 10th, 2014 at 8:47 pm    

A report on March 4 showed that politicians in the House approved legislation that will prevent some of the major increases in flood insurance rates that were to be set by the Biggert-Waters Flood Insurance Reform Act of 2012.

In a 306-91 vote, the Grimm-Waters bill was passed by the House of Representatives. This new bill seeks to provide refunds to people who have found themselves facing a large increase in flood insurance rates due to the bill passed by the Senate in January. It also will cap increases on insurance premiums to 15 to 18 percent and “subsidies for insurance rates that are based on current flood maps.”

At Smith Kendall, we know that many people in Dallas have been affected by insurance companies that act in bad faith when they seek to get the coverage they believe they were owed. If you pay a premium, you deserve to be treated fairly, and we may be able to ensure that this happens. Call us at 214-361-6124 today to discuss your situation.