Risk Rating 2.0 State Profiles
Description
FEMA has a statutory responsibility to clearly communicate flood risk. Risk Rating 2.0 allows FEMA to provide rnindividuals and communities with information to make more informed decisions on purchasing flood insurance, rninitiating, and informing appropriate mitigation options to help lower flood insurance rates. The current rating rnmethodology has not changed since the 1970s. Over the years, technology has evolved and so has FEMA’s rnunderstanding of flood risk. Risk Rating 2.0 allows FEMA to calculate premiums more equitably across all rnpolicyholders based on the value of their home and individual property’s flood risk.
Resources
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https://www.fema.gov/flood-insurance/risk-rating/profiles |