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FEMA: Flood insurance premiums expected to rise this year

Posted: Updated:
MANASQUAN -

The extreme weather this year is causing some major headaches for homeowners around the state and the cost to protect homes is getting more expensive.

Homeowners will now pay more for FEMA flood insurance as premiums are expected to rise this year. 

According to FEMA, flood premiums will rise around 8 percent this year. 

The average policy will cost $935 annually, up from $866 last year.

With surcharges, homeowners will on average now pay $1,062.

Some homeowners will see increases of up to 25 percent for vacation homes, commercial properties and homes with repeated flood losses.

For more information, click here.

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