Emergency management officials are urging Oahu property owners to buy flood insurance at current rates before new flood maps — and resulting higher prices — kick in next month.
The Federal Emergency Management Agency says new National Flood Insurance Program rate maps are set to be implemented on Jan. 19.
Areas impacted by the map changes include Hawaii Kai, Ala Moana-Kakaako, Ewa Beach and Makaha.
The agency says property owners in special flood hazard areas who hold federally backed mortgages will be required to purchase flood insurance.
Homeowners and business owners who purchase a policy before Jan. 19 can take advantage of lower premiums that could save hundreds of dollars annually
Topics Mergers & Acquisitions Flood Property
Was this article valuable?
Here are more articles you may enjoy.
NAIC Says Data Taken in Hack Has Been Published Online 
Viewpoint: Boom in Hyperscale Data Centers Puts Re/Insurers to the Test 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
Why Are Property & Casualty Carriers So Profitable? 
