Blame Congress.  The HFIAA (Homeowner Flood Insurance Affordability Act) Surcharge started in 2015 as mandated by Congress.  The reason - Congress is capping the allowable annual rate increase for high risk properties.   So the HFIAA surcharge is designed to offset the possibly insufficient collected premium for these subsidized properties.

The Charge: 

-$25 for Primary Residential Properties (e.g. you live in the home)
-$250 for all other (e.g. rentals, commercial property, vacation homes)

Additionally there is an increase in the Federal Reserve fund assessment, which was established to cover claim costs when the collected annual premium was not sufficient.  Previously the rate was 0% or 5% now it is 10% to 15% (like above depending on the type of property). 

If you would like more information and you are a client, give us a call or email.  If you are not a client, Google it. 

posted by


Posted 9:47 AM

Tags: flood
Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014

View Mobile Version