Florida plans to launch a program that will help homeowners secure grants and loans to elevate their homes above flood levels.
Florida plans to launch a program that will help homeowners in risk zones elevate their homes above flood levels.The initiative, called Elevate Florida, was announced at the Florida Chamber of Commerce Insurance Summit last week. While full details about the plan are yet to be released, it involves offering grants and low-interest loans to help homeowners protect their homes from flood damage.
'When we presented this, the mitigation and resiliency guys at FEMA said that no one has thought of that before.'Florida homeowners already pay the highest insurance premiums in the country, an average of $11,163 a year as of July, according to data previously shared with Newsweek by the virtual insurance company Insurify. The national average premium at the time was $2,435 per year.
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