U.S. lawmakers recently voted overwhelmingly to roll back flood insurance rates that have devastated many homeowners in coastal communities across the Nation. All Risk Insurance Group, Inc. offers affordable flood coverage to Florida residents.
March 7, 2014 (Newswire.com) - In a rare moment of bipartisanship, the House recently voted overwhelmingly to roll back flood insurance rate increases that have devastated many homeowners in coastal communities across the United States. The deal, brokered by Rep. Maxine Waters (D-Los Angeles) with a bipartisan coalition of coastal state lawmakers, sailed through the House, 306 to 91.
Florida is one of the coastal states that has been effected the most, Rep. Vern Buchanan (R-Fla.), who told horror stories of his constituents facing massive insurance rate increases on their homes, said, "It is nice, once in a while, where we can come together and get something done." The legislation faces an uncertain future in the Senate, which passed a bipartisan bill this year that was essentially dead on arrival in the House. That measure added $2.1 billion to the deficit over the decade and was rejected by GOP leaders.
Flood insurance rates started skyrocketing last year after new provisions went into effect as part of an earlier overhaul of the National Flood Insurance Program that was signed into law in 2012. That earlier effort sought to push up flood insurance rates to more accurately reflect risk and cover a deficit in the flood insurance program.
But homeowners saw enormous rate increases as their properties were suddenly included in federal flood insurance maps. Others complained they could not sell their homes because buyers could not afford the higher rates. The Senate bill simply delayed the increases for four years while the Federal Emergency Management Agency studied the issue.
The House compromise would roll back some rates and allow more modest rate increases of 5% a year on others, with a cap of 18% a year on primary residences. To avoid raising the deficit, the House bill would impose a $25 fee on each household, $250 on businesses and second homes.
All Risk Insurance Group Inc. is a leading independent insurance agency in the U.S. offering Florida residents quality and affordable flood insurance. Flood insurance provides protection for destruction and financial devastation caused by floods. Purchasing flood insurance through All Risk Insurance Group Inc. can protect you.
Although it may not seem as necessary as homeowners insurance, flood insurance is important if you plan on keeping your home safe and your possessions secure. Flood coverage offers protection against losses that result from heavy and lengthy rain falls, storm surges, blocked storm drainage systems, and a variety of other water related damage. Randy Schleger the head of All Risk Insurance Group Inc. said this is why it is imperative that all homeowners review their policies as soon as possible so that they are not blindsided by onerous increases.
"It's important for them to evaluate their policies and have as many options as possible", said Schleger. It's this kind of honest, frank talk that has earned Randy Schleger the reputation as MrInsurance911@aol.com from New York to Miami. All of his customers appreciate his honest advice, always putting their needs above his bottom line. Randy has over 25 years of experience in the insurance industry and his company, All Risk Insurance Group, Inc. has rapidly become the 'go-to' company in Florida from the moment it opened its doors only 10 years ago.
All Risk Insurance Group, Inc. is located at 123 NW 13th Street, Suite #202 in Boca Raton, Florida 33432. Don't wait until it's too late. Contact All Risk Insurance Group, Inc. at (561)395-5220 or fill out an online form for a Flood Insurance Quote, for more information visit http://www.allriskinsurancegroup.com/