NJ Property Fax Flood Video

Flood overview for New Jersey property owners and home buyers. Video answers the question 'who is in a flood zone and who is no't. Video can help you remove a property that was misidentified as being in a high risk zone.

Current Trends in the National Flood Insurance Program

Current Trends in the National Flood Insurance Program

Over the past several years the landscape of the National Flood Insurance Program (NFIP) has changed dramatically. After the 2005 hurricane season (Katrina, Rita, and Wilma in particular) the NFIP was in a position of financial insolvency, claims were exceeding funds and the program went into debt.

In an effort to address the financial woes congress passed legislation known as the Biggert-Waters Flood Insurance Reform Act of 2012 (BW 12).  Extending the NFIP for 5 years (through 9/30/2017), this law also changed several major components of the said program. Most notably it changed the way Pre-FIRM and Grandfathered structures were treated. After extended push back from the public and professionals alike a follow up legislation was passed to address BW 12’s shortcomings and overcompensations, this bill is known as the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA 14).

The following is a brief comparison of the two, with particular concentration on the changes to Pre-FIRM and Grandfather homes.