Flood Insurance Rates Have an Impact on Whether or Not Homeowners Purchase Insurance (U.S. News)

The cost of flood insurance premiums are on the rise due to more frequent catastrophic weather events like Hurricane Sandy, Harvey, and Maria. Homeowners will often forego paying for insurance due to these rising costs. Thankfully, municipalities like New York City are using resiliency and recovery programs to combat the effects of flooding through nonprofits like the Center for NYC Neighborhoods, which provides free elevation certifications to homeowners which helps to lower flood insurance rates.

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